Sallyport, an operationally focused lower to middle-market private equity firm, announced the closing of its first fund, Sallyport Partners Fund. The fund exceeded its target of $150 million, closing with $160 million in total capital commitments. The Houston-based firm is led by Chairman Doug Foshee and Managing Partners Kyle Bethancourt and Ryan Howard. After achieving top decile returns at Foshee's family office for over a decade, Foshee, Bethancourt, and Howard established Sallyport Partners
Read Story
January 14, 2025 @ 08:30 AM
|
Encina Private Credit (“EPC”) served as Administrative Agent on a Senior Secured Credit Facility supporting Quadriga Capital portfolio company Ipsen International Holdings, GmbH (“Ipsen”). Ipsen is a global manufacturer of mission-critical, highly engineered material transformation and treatment technology and related aftermarket parts and services. The transaction supported the refinancing of existing credit facilities and provided capital to support the company’s growth. Encina provided a
Read Story
January 14, 2025 @ 08:25 AM
|
Inhibrx Biosciences, a biopharmaceutical company with two programs in ongoing clinical trials, entered into a loan and security agreement with Oxford Finance LLC ("Oxford", together with certain of its affiliates party thereto, the "Lenders"), pursuant to which the Lenders provided a five-year term loan facility for up to $150 million.The Credit Facility closed on January 13, 2025. Pursuant to the LSA, the Company received an initial Term Loan of $100 million funded on the Closing Date. An
Read Story
January 14, 2025 @ 08:15 AM
|
Gordon Brothers has provided Peavey Industries LP (Peavey) a financing package of up to C$155 million, consisting of a C$105 million first-lien revolving credit facility, a C$30 million first-in, last-out term loan, and a C$20 million consignment program, to support Peavey’s go-forward strategy.Additionally, Gordon Brothers will provide store and inventory rationalization, vendor support, portfolio evaluation and lease renegotiations to holistically support the continued operations of the
Read Story
January 14, 2025 @ 08:10 AM
|
Client: Headquartered in Texas, this private equity-owned and well-established print house specializes in custom labels and printing. The Company has built a strong reputation for delivering innovative, customized solutions that meet the unique needs of customers across multiple industries, offering over 80 different types of custom print labels, custom branded apparel and uniforms and promotional products, as well as individual customer service attention. Situation: In a rapid growth and
Read Story
January 14, 2025 @ 08:03 AM
|
Brex, the modern corporate card and spend management platform for startups and enterprises, closed a two-year, $235 million revolving credit facility. Citi serves as senior lender for the credit facility, joined by TPG Angelo Gordon as a participating lender.This credit facility, combined with Brex's existing warehouse facilities and master securitization trust—through which the company has closed three securitization issuances to date— will act to further support Brex's recent growth
Read Story
January 14, 2025 @ 08:01 AM
|
Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Rita’s Italian Ice & Frozen Custard (“Rita’s”) by Maple Park Capital Partners. Founded in 1984 and based in Trevose, Pennsylvania, Rita’s is a franchisor of Italian ice and custard shops. The company has over 575 locations across 30 states primarily in the mid-Atlantic region including Pennsylvania, New Jersey, and Maryland.
Read Story
January 14, 2025 @ 08:00 AM
|
BizCap announced that Michael Hengl has joined the team as Managing Director, based in San Francisco. With over 34 years of leadership experience in commercial and asset-based lending, Hengl will be instrumental in driving BizCap®’s growth and expanding its strategic offerings to new markets.Hengl joins BizCap® after an extensive career at Western Alliance/Bridge Bank, where he held leadership roles in capital finance and corporate banking. As Senior Director of the Capital Finance Group, he
Read Story
January 14, 2025 @ 07:46 AM
|
Republic Business Credit continues its commitment to the natural products industry by providing a $1.5 million asset-based loan credit facility to a leading manufacturer of bath, shower and all-natural aromatherapy solutions. The company was seeking a trusted financial partner to support the expansion of its e-commerce and online consumer sales strategy. The company CEO shares that, “Republic’s natural product experience was clear to us from the beginning,” adding that, “Republic provided a loan
Read Story
January 14, 2025 @ 07:00 AM
|
Ares Management Corporation announced that Kevin Alexander, Partner in Ares’ Alternative Credit strategy, has been promoted to Co-Head of Alternative Credit alongside current Co-Heads Keith Ashton and Joel Holsinger, effective immediately.Alexander joined Ares in 2019 and has been a key leader and contributor to the Alternative Credit team’s growth and success, playing an instrumental role in the strategy’s investment origination and structuring efforts. Currently, Alexander serves as a member
Read Story
January 13, 2025 @ 08:15 AM
|
BMO and Canal Road Group ("CRG") are entering into a strategic partnership. As part of the arrangement, BMO's commitment to CRG will enable CRG to invest up to $1 billion in capital in support of their direct lending strategy. CRG is an alternative asset manager specializing in originating, underwriting, and managing portfolios of senior secured corporate debt investments for companies in North America sourced largely from sponsors. CRG will benefit from BMO's network of banking relationships
Read Story
January 13, 2025 @ 08:10 AM
|
Legacy Corporate Lending provided a $25 million asset-based credit facility to American Technologies, LLC (doing business as “888VoIP”). Founded in 2006 and headquartered in Orchard Park, New York, 888VoIP is a leading value-added reseller (VAR) and distributor of telecommunications products and services, including VoIP phones, headsets, video conferencing systems, networking equipment, and related accessories. “While the needs of businesses evolve, 888VoIP has established itself as a
Read Story
January 13, 2025 @ 08:05 AM
|
Huntington Business Credit closed $23,000,000 in new credit facilities with HCI-TSM Holding Corporation on December 23, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing capital expenditure and working capital financing.HCI-TSM Holding Corporation, headquartered in Auburn Hills, Michigan, is a Tier 1 manufacturer of customized automotive components for powertrain, driveline, and chassis applications. Huntington Business Credit provides working
Read Story
January 13, 2025 @ 08:00 AM
|
WhiteHawk Capital Partners entered into an agreement with Nephron Pharmaceuticals to provide a $350 million asset-based credit facility. Nephron will use proceeds of the Financing to support a recapitalization and liquidity for continued growth.Nephron, founded in 1997 by Lou and Bill Kennedy, is a leading provider of generic respiratory and 503B outsourcing medications with significant expertise in sterile dose medications and compounded solutions. The Company develops, tests, produces, and
Read Story
January 13, 2025 @ 07:53 AM
|
AIP Capital, an alternative investment manager focused on opportunities in asset-based finance has expanded its leadership team with several new hires, including Chris O'Scannlain, Chief Risk Officer based in AIP's Stamford, CT office and Omar Mian, Managing Director, EMEA based in AIP's Dublin, Ireland office. AIP is also announcing the promotion of Sinead O'Donnell to Chief Financial Officer."We are pleased and honored to welcome both Chris and Omar as members of our growing team," said Jared
Read Story
January 13, 2025 @ 07:34 AM
|