Leading global professional services firm Alvarez & Marsal (A&M) has appointed New York-based Luigi “Lou” Peluso a Managing Director in its Private Equity Performance Improvement group. Mr. Peluso, who has extensive experience in the aerospace and defense industries, will serve in the firm’s global Aerospace, Defense & Aviation practice. His appointment reflects A&M’s commitment to meet the aerospace and defense industries’ growing demand for advisory services in the face of unprecedented operational challenges.

GOVCON Asset Management Services, a division of GOVCON Funding Corporation has launched the Distressed Asset Redeployment Program (DARP), to assist global financial institutions in their ability to recapture investments within their Non-Performing Loans (NPL). Through the DARP program, GovCon Funding Corporation will provide strategic guidance, funding solutions, and asset management services to lending institutions. The DARP program focuses on financial institutions who have credit exposure to companies operating in the aerospace, defense, and government service markets.

Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. We are proud to provide this overview of the financing solutions that Siena delivered in Q3 2020. In firm news, we’ve expanded into additional office space to support our ongoing growth, and our commitment to ensuring the safest possible work environment for our team members.

Gerber Finance, a leading finance partner for companies experiencing accelerated growth, announced the closing of a line of credit to Cerebelly, maker of organic, brain-supporting baby food. Cerebelly joins Gerber’s baby care product specialty under its recently launched Naturally Gerber Finance division, helping fast-growing companies in the natural products industry.

Asset coverage is expected to be pressured for business development companies (BDCs) heading into 2021, prompting Fitch Ratings to revise its Rating Outlook for the sector to Negative, as detailed in the agency's special report. Credit performance across BDC portfolios is expected to deteriorate in 2021 given the impact that the coronavirus pandemic will continue to have on the U.S. economy.

Truist Financial Corporation (NYSE: TFC) today announces the expansion of the Truist Commercial Community Banking Industry Consulting team, adding the beverage sector to its growing list of industry specialties. Joseph Goode has joined Truist as a beverage industry consultant. In this role he will partner with local bankers across the Truist footprint to deliver industry-specific knowledge, bespoke content and customized solutions to manufacturers, bottlers, distributors and related businesses throughout the beverage supply chain.

Crestmark secured a total of $30,557,358 in ABL financial solutions for 13 new clients; Crestmark Equipment Finance provided $2,309,779 in two new lease transactions; Crestmark Vendor Finance provided $8,572,042 in 117 new transactions; the Government Guaranteed Lending group provided $9,396,250 in financing for three new clients in the first half of October.

Gordon Brothers, the global advisory, restructuring and investment firm, announced today it has agreed to purchase the Machinery & Equipment (the “M&E”) of the four plants of Jose Sanchez Peñate (“JSP”) in the Canary Islands. The M&E will be leased back to the company.

Caltius Structured Capital (“Caltius”) is pleased to announce the closing of a growth capital investment in Santa Ana, Calif.-based Salas O’Brien. The investment will support Salas O’Brien’s continued national expansion via strategic mergers and organic growth initiatives.

Hilco Redevelopment Partners (HRP) announced that the company will invest hundreds of millions of dollars to decommission, demolish and remediate the former PES Refinery site, a site that has been a source of pollution for more than 150 years. HRP, the real estate development unit of Hilco Global, remediates and redevelops complex and obsolete industrial properties in cities nationwide.

A&G Real Estate Partners today announced that it has completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, Texas distribution center and two other properties to two buyers. The Melville, N.Y.-based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which operated 738 conventional department stores and off-price stores under multiple brands at the time it filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020. The company has since liquidated all stores.

Kainos Capital, a private equity firm focused exclusively on the food and consumer industry, today announced that it has agreed to acquire Nutrisystem, the preeminent direct-to-consumer nutrition and weight management brand, from Tivity Health (Nasdaq: TVTY) for $575 million. Rabobank is providing debt financing for the transaction and is acting as financial advisor to Kainos (through Rabo Securities USA, Inc.). Winston & Strawn is serving as legal counsel to Kainos.

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a $11.5 million senior credit facility drawn at closing to support the acquisition of Green Remedies Waste and Recycling Inc. (“Green Remedies”) by Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest”). In addition, Quest potentially has access to more than $50 million in additional term debt financing to support Quest’s growth plans.

Simplifying access to capital for small and medium businesses across the U.S. and Canada is the foundation of the new Accord Financial Corp. brand ("Accord") (TSX: ACD) that launches today. Accord, one of North America’s leading independent finance companies, is introducing a streamlined organizational structure bringing all commercial lending businesses under the Accord umbrella brand, with systems that seamlessly integrate both clients and financial partners resulting in fast and flexible financing.

CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending and Sponsor Finance businesses, both part of the Commercial Finance division, collaborated to serve as joint lead arranger on $175 million financing for MSTS, a B2B payment and credit solutions provider. Headquartered in Overland Park, Kansas, MSTS, a global leader in B2B payment and credit solutions, facilitates $6 billion in transactions per year in 17 currencies for customers in over 190 countries.

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $750,000 to DH Environmental, Inc. (“DH” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected growth.

PAE (NASDAQ: PAE, PAEWW) today announced it has closed new senior secured credit facilities. The joint lead arrangers and joint bookrunners under the senior secured credit facilities are BofA Securities, Inc., Citizens Bank, National Association, Morgan Stanley Senior Funding, Inc., Stifel Nicolaus and Company, Incorporated and Truist Securities, Inc.

Headquartered in Texas, Gabriel’s Liquor is the largest packaged store retailer in the greater San Antonio area. Established more than 60 years ago, Gabriel’s operated 33 stores under the names Gabriel’s Liquor and Don’s & Ben’s Liquor. On October 5, 2020, the sale of the business was successfully completed to Omega Capital Group.

nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Fifth Third Bank, National Association, has selected the nCino Bank Operating System as a foundational technology platform to help the Bank accelerate its digital transformation, streamline its commercial banking business and provide greater transparency, efficiency and convenience to its employees and clients.

Fifth Third Business Capital provided a $6.5 million revolving line of credit and term loan to Image Options in Foothill Ranch, CA. With a uniquely proactive, partnership-based approach to designing high-impact visuals, Image Options envisions, designs, fabricates and installs creative solutions for retail, corporate and event environments.