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Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of several non-recourse factoring deals with multiple furniture companies in Texas and North Carolina.

After a former Rosenthal client sold its furniture business to a well-known furniture brand in 2019, they reached out to Rosenthal to discuss funding for a new company. The client was seeking financing for several of its furniture businesses, both start-ups and established brands, all of which were experiencing cash flow issues as well as credit coverage concerns. Rosenthal was able to offer a non-recourse factoring solution to cover both. 

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.

Franklin Capital’s Sue Duckett has seen a lot in her 25-plus-year career in the commercial finance industry. Her career has spanned several positions and two countries, but she has never seen anything such as the current crisis. It has been overwhelming at times, with constant changes and an unprecedented number of new inquiries relating to personal protection equipment (PPE). She pushed aside the mounting emails in her new home office to reflect on what she has seen over these past several weeks and where she thinks this might be going.

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. 

MidCap Business Credit announced today they have closed on a $14,000,000 asset-based revolving line of credit for Allied Dairy Products, Inc. and subsidiaries, headquartered in Chatham, New Jersey.  

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.

CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC.

Europa Sports Products is an industry-leading distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers, sporting goods stores and many other outlets. Proceeds from the credit facility will be used for general corporate purposes and business development.

The $10 billion unsecured revolving credit facility consists of a five-year, $8 billion revolving credit facility, and a one-year, $2 billion facility. Each facility includes two one-year extension options at the discretion of each lender. Bank of America and Barclays Bank acted as joint coordinators for the facility.

PNC Bank, N.A. announced the appointment of two new regional presidents in California, further expanding its local leadership and decision-making model in the state.

Jarrod Ingle joins PNC as the regional president and head of Corporate Banking for the Orange County-Inland Empire market and Todd Wilson assumes responsibilities as regional president for the Greater Los Angeles Metropolitan Area. 

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over $52 billion of capital under management, is pleased to announce that Daniel Rosenthal Ayash, Bernice Berschader and Micael Hagelin have joined the firm’s Capital Formation Group, based in H.I.G.’s London office.

Daniel joins as a Managing Director and is responsible for managing H.I.G.’s European client partnerships for the firm’s global private equity platform. Prior to H.I.G., Daniel was a Managing Director in Eaton Partners’ Europe, Middle East, and Africa (EMEA) private funds group. Prior to joining Eaton, he was Head of European Fundraising for Patria Investimentos, where he was responsible for all European fundraising.

SG Credit Partners provides situational capital ranging from $1-$10 million for the lower middle market with a focus on non-sponsored businesses. Headquartered in Southern California with offices in Atlanta, Boston, Chicago and Portland, the SG Credit Partners team has provided in excess of $250 million to 150-plus borrowers across a variety of industries and continues to expand its national footprint. Here, Marc discusses SG Credit’s efforts in going from a niche lender to a broader platform in order to better work with asset-based lenders and banks and why they are broadening their scope.

Gerber has established this new division alongside its parent company, eCapital Corp., ("eCapital"), a leading alternative finance provider, to help companies grow and achieve their mission by accelerating their access to capital. The new division will be led by Senior Vice President Entela Semini, who will serve as Northeast director of Gerber+.

Refinitiv’s director of analytics shares with readers the latest data surrounding the syndicated market.