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
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January 13, 2025 @ 08:15 AM
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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
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January 13, 2025 @ 08:10 AM
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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
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January 13, 2025 @ 08:05 AM
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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
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January 13, 2025 @ 08:00 AM
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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
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January 13, 2025 @ 07:53 AM
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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
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January 13, 2025 @ 07:34 AM
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BizCap successfully delivered a customized financing solution for its client, Flavor Insights. A flavor development business founded in 2016, the company partners with top food and beverage brands to provide ingredients for existing brands and collaborates with R&D teams to develop and deliver new products. “Working with BizCap® was a truly positive experience from start to finish, their responsiveness and transparency were top-notch, said Michael Pickett, Co-Founder and President of Flavor
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January 13, 2025 @ 07:04 AM
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MidOcean Partners, an alternative asset manager specializing in middle-market private equity, alternative credit, and structured capital, led a $197.5 million structured equity investment in OWN Equipment Fund I LLC, a newly formed special-purpose vehicle. The equity investment supported a $797.5 million sale-leaseback transaction (the “Transaction”) with EquipmentShare.com Inc., a leading construction equipment rental company.As part of the Transaction, OWN Equipment Fund I LLC acquired a
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January 13, 2025 @ 07:00 AM
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TPG Twin Brook recently served as administrative agent on debt financings supporting:
EagleTree Capital’s refinancing of Nasco Holdings, which includes two separate companies, Nasco Healthcare and Nasco Education, that focus on the healthcare training and educational end markets.
Carlson Private Capital Partners’ refinancing of Lakeshirts, a customized apparel and accessories manufacturer and merchandising partner to over 3,000 resort town retailers and 2,000 college and campus
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January 13, 2025 @ 06:00 AM
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CIBC US announced the promotions of Ron Kerdasha, Ramsey Naber and Susan Lanz within its Asset-based Lending (ABL) team. These promotions recognize their significant contributions and leadership abilities, reinforcing the bank’s commitment to helping clients reach ambitious possibilities.Kerdasha, who has over 35 years of ABL industry experience, has been promoted to Regional Originations Manager, covering the Great Lakes to the Atlantic Coast. In this role, he leads the Eastern Region team
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January 10, 2025 @ 08:15 AM
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ACON Investments and its affiliates (“ACON”) announced the acquisition of a controlling stake in True Religion, a lifestyle, apparel and accessories brand known for its quality craftsmanship, unique designs and premium stitching. Financial terms of the transaction were not disclosed.Founded in 2002, True Religion has been a staple in the global denim and apparel industry for more than two decades. The brand has always been embraced by athletes, musicians, artists and loyal customers globally.
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January 10, 2025 @ 08:12 AM
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Gordon Brothers has completed the purchase of Big Lots Inc. and facilitated the U.S. closeout retailer’s going concern sale, preserving the brand, keeping hundreds of stores in operation and preventing thousands of layoffs.The purchase enables the transfer of Big Lots’ assets, including its stores, distribution centers and intellectual property, to other retailers and companies, including Variety Wholesalers, Inc.Gordon Brothers had previously agented a $200 million delayed draw term loan
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January 10, 2025 @ 08:11 AM
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MONTICELLOAM, LLC (“MonticelloAM”), announced the closing of a $22 million senior secured working capital facility, complementing the firm’s recent $400 million bridge financing for 29 Southeastern skilled nursing facilities. The working capital facility has a three-year initial term and will cover the day-to-day operating expenses of over 2,900 skilled nursing beds across Kentucky and Tennessee. “We are thrilled to provide this financing solution to a returning client and exceptional
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January 10, 2025 @ 08:10 AM
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SSG Capital Advisors served as the investment banker to Fluid Market, Inc., and its affiliates d/b/a Fluid Truck Inc. in the sale of substantially all assets to Kingbee Rentals, LLC (“Kingbee”). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware and closed in December 2024.Fluid is an on-demand commercial vehicle sharing platform that allows businesses and individuals to rent cargo vans, box trucks, and pick-up trucks. The
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January 10, 2025 @ 08:00 AM
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Runway Growth Capital and BC Partners Credit, announced a $131 million financing commitment to VertexOne. BC Partners Credit is the $8 billion credit arm of BC Partners, an alternative investment firm with approximately $40 billion AUM. VertexOne has been a Runway portfolio company since December 2021 and is a leading provider of vertical market software solutions for electric, gas, and water utilities.The capital will enable VertexOne to refinance existing obligations, acquire Accelerated
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January 10, 2025 @ 07:48 AM
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