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Global Merchant Fund Corp. (GMF), a leading North American provider of financial solutions for middle-market companies, is pleased to announce the acquisition of Bibby Financial Services (Holdings) Inc. (Bibby NAM). Bibby NAM is the North American operation of Bibby Financial Services (BFS), a U.K.-based independent SME funder with operations in 14 countries.

Northpoint will offer senior secured revolving credit lines and term loans ranging in size from $2 million to $20 million to borrowers across a wide range of industries. Industry veteran Robert Wagner, Northpoint General Manager and Head of Asset-Based Lending, will lead a team of seasoned ABL professionals.

Monroe Capital LLC (“Monroe”) today announced the closing of a $454.35 million term debt securitization known as Monroe Capital MML CLO IX, LTD. The term financing was Monroe’s fourth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.

Capital One executives discuss how innovation in the food & beverage sector are making it an industry lenders don’t want to ignore.

Gordon Brothers, the global advisory, restructuring and investment firm, has named Joe Massaroni as Director, Business Development as Conrad Lauten retires.

Based in Atlanta, Massaroni will lead efforts to develop and maintain strong client relationships across the Southeast. Massaroni joins Gordon Brothers with decades of experience in secured finance. He’s worked at several lending institutions throughout his career and previously served as director and team leader responsible for managing key relationships and more than $4 billion of account commitments.

On November 5, Callodine Group, an asset management firm focused on yield-oriented investment strategies, announced it had entered into a definitive agreement to acquire the loan portfolio and assume the employees and operating costs of Gordon Brothers Finance Company, LLC (GBFC). In connection with the closing of the transaction, GBFC has changed its name to Callodine Commercial Finance (CCF). Led by CEO Gene Martin, and the current investment team, CCF will be the successor firm to Gordon Brothers Finance Company, LLC. Callodine’s acquisition represents approximately $400 million in assets and is being funded in part by new strategic financing from KKR, East Asset Management and Axar Capital Management. BlackRock Capital Investment Corporation (“BCIC”), the most recent majority owner of the business, will also remain a financial partner to CCF. TSL Express' senior editor spoke with Gene Martin and Mark Forti at Callodine Commercial Finance about opportunities in the asset-based lending space and what lies ahead.

- Led by CEO, Gene Martin, and the current investment team, Callodine Commercial Finance will be the successor firm to Gordon Brothers Finance Company, LLC

- Investment strategy is consistent with Callodine’s focus on yield-oriented investment opportunities across the capital markets

Clear Thinking Group LLC announced today that Gennady Spivak has joined the firm as a Managing Director.  Mr. Spivak is an accomplished professional with a proven record in bankruptcy and insolvency, financial analysis, forensic accounting, fraud investigation, litigation support and wind down management.

Prior to joining Clear Thinking Group, Mr. Spivak was a Senior Manager in the Corporate Recovery & Litigation Services practice of a major accounting firm where he specialized in the fields of bankruptcy and insolvency, creditors’ rights and litigation support.

(Editor's Note: A member of SFNet’s Advocacy Committee, Brett Garver of Moritt Hock & Hamroff LLP, has provided this alert pertaining to CFPB Section 1071, which could prove to be unduly burdensome to the vast majority of small and mid-sized finance companies that provide credit to small businesses. If you have any questions or comments, please contact Michele Ocejo at mocejo@sfnet.com.)

Gen Merritt-Parikh is the president of Haversine Funding, a leading financing provider to specialty finance companies, including asset-based lenders, factors, purchase order, equipment and inventory lenders. With more than 25 years of experience in commercial finance, she joined Haversine Funding in August 2020, responsible for origination, underwriting, investment analysis and management and asset allocation strategy for Haversine Funding.

In 2018, as president of Allied Affiliated Funding, she led the company to a successful sale through a nationally chartered bank where she continued to manage that line of business for the bank. Merritt-Parikh holds a bachelor of arts degree in business and economics from the University of Texas at Dallas.

TAB Bank is pleased to announce it has finalized the acquisition of BAMFi’s $46 million BAM Capital Division.  This is TAB Bank’s fourth successful completed acquisition of a working capital loan portfolio.  As part of the acquisition TAB will retain the operations and staff at BAM’s office in Dallas, TX. BAMFi, a leading provider of software for the secured lending industry, will continue to own FactorCloud™, its proprietary, all-in-one, cloud-based secured lending software solution.

Fifth Third Bank's Asset Based Lending Group, acting as sole lender, provided a $100MM asset based revolving credit facility for a West Coast based e-commerce retailer.

The company will use the facility to support growth and for ongoing working capital needs. 

SFNet will host a webinar this Friday, May 14, from 12:00 p.m. – 1:00 p.m., titled "The Data You Need to Plan Ahead." This webinar is open to employees of SFNet member organizations and SFNet Chapter members only and will provide analysis behind the numbers for the Secured Finance Foundation (SFFound) Market Pulse Report, the Foundation’s Annual ABL and Factoring Surveys as well as Refinitiv’s Capital Markets League Table for Q1.

Panelists will include Barry Bobrow, managing director, Wells Fargo Securities; Miin Chen, COO, Siena Lending Group; Lawrence Chua, managing director, Ares Management LLC; Maria Dikeos, global head of Loans Contributions, Refinitiv; Terry Keating, president of Accord Financial’s US Asset Based Finance unit and Robert Wescott, president, Keybridge Research.

LBC Credit Partners ("LBC") provided senior secured credit facilities to support the refinancing of Sciens Building Solutions and the add-on acquisition of SmartWatch Security & Sound ("SmartWatch"). Sciens Building Solutions, a portfolio company of Huron Capital, was formed in 2016 to pursue a buy-and-build investment strategy in the fire detection and integrated solutions sector.

Bobbi Acord Noland is a partner at Parker Hudson Rainer & Dobbs LLP in Atlanta, Georgia. As head of the Commercial Finance practice, Bobbi guides global banks, regional banks and finance companies through domestic and cross-border transactions ranging from $5 million to more than $1 billion. She has handled practically every aspect of commercial lending, from single-lender deals to syndicated facilities involving multiple lenders, borrowers, creditors and multi-tiered debt tranches. In addition, Bobbi frequently advises her clients on workouts and restructurings.