Huntington Business Credit closed $21,000,000 in new credit facilities with JG Kern Enterprises on November 27, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.JG Kern Enterprises, Inc., headquartered in Sterling Heights, Michigan, is a manufacturer of close tolerance components for drivetrain and powertrain assemblies, transmission flange assemblies and other components, primarily for the automotive industry.
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December 30, 2024 @ 08:15 AM
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KeyCorp announced that The Bank of Nova Scotia ("Scotiabank") has completed its purchase of KeyCorp's common stock with an investment of approximately $2.0 billion, as expected. With this investment, Scotiabank now owns approximately 14.9% of KeyCorp's common stock. The parties received Federal Reserve approval for the transaction on December 12, 2024.This purchase completes Scotiabank's strategic minority investment in KeyCorp pursuant to the agreement announced on August 12, 2024.
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December 30, 2024 @ 08:10 AM
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Chicago Atlantic and Lineage Merchant Partners announced the execution of definitive merger agreements entered into by Vireo Growth, in which Chicago Atlantic is the largest stockholder, with three leading single-state operators: Proper Cannabis (Missouri), Deep Roots Harvest (Nevada), and WholesomeCo Cannabis (Utah). The merger agreements with Wholesome and Proper include the acquisition of Arches, a cutting-edge analytics and distribution technology platform joint venture between Wholesome and
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December 30, 2024 @ 08:03 AM
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TriplePoint Venture Growth BDC Corp., a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, announced the appointment of Mike L. Wilhelms as Chief Financial Officer (CFO) of the Company, effective as of January 6, 2025. Wilhelms will also serve as CFO of TriplePoint Capital LLC (TPC), TPVG’s sponsor, and as CFO of TriplePoint Private Venture Credit Inc., TriplePoint Venture Lending Fund
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December 30, 2024 @ 07:51 AM
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MultiPlan Corporation, a leading provider of technology and data solutions focused on cost management, improving quality and transparency in healthcare, today announced a comprehensive refinancing to extend the maturities of its entire debt capital structure.MultiPlan has entered into an agreement (the “Transaction Support Agreement”) with certain ad hoc groups of noteholders and lenders collectively beneficially owning approximately 78% of MultiPlan’s outstanding debt.“Our top priority is
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December 30, 2024 @ 07:32 AM
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RBB Bancorp announced that effective Jan. 1, 2025, Johnny Lee, currently President and Chief Banking Officer of Royal Business Bank, will be appointed as President of the Company, President and CEO of the Bank and a director of the Company and Bank. In addition, effective as of May 22, 2025, Lee will be appointed as CEO of the Company. Lee brings a wealth of knowledge and experience to the Company from various financial institutions, and the Company will continue to benefit and grow with his
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December 30, 2024 @ 05:00 AM
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PennantPark Floating Rate Capital Ltd. (“PFLT”) upsized its credit facility, led by Truist Bank to $736 million from $636 million. Pricing on this facility remained unchanged at SOFR plus 225 basis points. The Credit Facility is secured by all of the assets held by PennantPark Floating Rate Funding I, LLC, a wholly-owned subsidiary of the Company, and includes customary covenants, including minimum asset coverage and minimum equity requirements.“We are appreciative of the support from all of our
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December 27, 2024 @ 08:10 AM
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TPG Twin Brook announced the following recently closed transactions:
Dunes Point Capital’s leveraged buyout of Star Dental Partners, the industry leader in to-the-trade home furnishings, distributing fabric, furniture, wall coverings, trimmings, and carpet under the Kravet, Lee Jofa, GP & J Baker, Brunschwig & Fils and Donghia brands.
Heritage Group’s leveraged buyout of Nationwide Medical, a national provider of home medical equipment and clinical services for patients with chronic
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December 27, 2024 @ 08:05 AM
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Biz2Credit unveiled its Small Business Earnings Report, a new monthly report examining the financial health of small businesses in America. The study looks at the performance of small to midsized firms in the U.S. – from early stage to established companies — that applied for financing via Biz2Credit’s online funding platform during the past month.The report provides one of the most precise and timely sources of small business financial health currently available. It tracks earnings, revenues
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December 27, 2024 @ 08:00 AM
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Growth in new business volume suggests a 0.12% increase in new durable goods orders in November. Based on the latest data from the Equipment Leasing and Finance Association’s (ELFA) CapEx Finance Index (CFI), durable goods orders are expected to grow by 0.12% in the upcoming November advanced report on durable goods. That would be the fastest growth rate since July and a sign that demand for manufacturing goods has momentum heading into 2025.“The November CapEx Finance Index shows that the
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December 27, 2024 @ 07:56 AM
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United Community Banks and ANB Holdings announced the execution of a definitive merger agreement in which United will acquire ANB, and its wholly-owned subsidiary, American National Bank (“ANB Bank”), in an all-stock transaction with an aggregate value of roughly $80 million.ANB Bank is headquartered in Oakland Park, Florida, a northern and fast-growing part of the Miami metropolitan area. Founded in 1985, ANB Bank primarily services Miami Dade, Broward and Palm Beach Counties. It is a premier
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December 27, 2024 @ 07:55 AM
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The Hedaya Capital Group provided a $2.5 Million factoring facility to a New Jersey-based high-end golf apparel brand that prioritizes the consumers’ athletic nature but can be worn for many engagements: athletic, personal, and professional. Launched by a trio of brothers and cousins, the founders crisscrossed the country, visiting country clubs to bootstrap a fashion-forward brand that would nurture consumers’ athletic nature, honor their core commitment to sports and high-level performance
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December 27, 2024 @ 06:00 AM
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S&W Seed Company closed a new $25 million revolving credit agreement with ABL OPCO LLC ("Mountain Ridge") which replaces an existing facility with CIBC Bank USA.In connection with the Company's entry into the Mountain Ridge credit agreement, MFP Partners L.P. ("MFP"), S&W Seed Company's largest shareholder, provided a letter of credit with a face amount equal to $13 million. The MFP letter of credit is being used as collateral to support S&W's obligations under the Mountain Ridge credit
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December 24, 2024 @ 08:15 AM
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Gordon Brothers in a joint venture with Hilco Consumer - Retail and Tiger Capital Group, began store closing sales at all 869 Big Lots locations.The U.S. closeout retailer is offering up to 25% off original prices on all merchandise and 50% off a great selection of Christmas and harvest offerings. Stores are fully stocked with an outstanding variety of toys, home décor, furniture, apparel and more.“New arrivals in seasonal merchandise are on sale just in time for customers to buy gifts that are
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December 24, 2024 @ 08:10 AM
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Lafayette Square was named by the U.S. Small Business Administration ("SBA") as one of four new Small Business Lending Company (SBLC) licensees. SBLCs are granted to SBA 7(a) lenders focused on historically underserved markets to support SBA's ongoing efforts to increase access to affordable capital for business owners in underserved markets across America.The SBLC designation will allow Lafayette Square to expand into 7(a) lending and increase its support for entrepreneurs in working-class
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December 24, 2024 @ 08:04 AM
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