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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First Citizens Bank announced that its Healthcare Finance division has provided more than $30 million in financing to Stockdale Capital Partners for its acquisition of medical outpatient buildings in California and Texas.Headquartered in Los Angeles, Stockdale Capital Partners, is a leading private equity real estate investment firm with over 30 years of experience and $2.8 billion in assets under management. The firm specializes in healthcare, office, retail, and mixed-use properties, focusing
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January 10, 2025 @ 07:00 AM
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Andover Lending, a platform that seeks to originate non-recourse financing for self storage sponsors nationally, provided a $21 million construction loan to a joint venture between LaTerra Development and Platinum Storage. The loan will fund the redevelopment of a former retail location in Irving, Texas, into a Class-A self storage facility. Located at 2488 Market Place Blvd. – a prime location immediately adjacent to a Home Depot and a to-be-developed H-E-B supermarket – the195,000-square-foot
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January 10, 2025 @ 07:00 AM
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Optimism about the dealmaking environment has reached a five-year high, according to Citizens’ 2025 M&A Outlook. The 14th annual survey of 400 leaders at U.S. middle-market companies and private equity firms revealed that 54% of decision-makers believe the current M&A environment is strong.Economic growth and easing inflation are among the most-cited factors fueling middle-market businesses’ M&A plans in 2025. Fifty-seven percent of all respondents expect the U.S. economy to improve in the year
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January 09, 2025 @ 08:20 AM
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MidCap Business Credit completed a $6 million asset based credit facility with a manufacturer and distributor of air purifying respirators located in the Northeast. The ABL credit facility is supported by a working capital revolver and a machinery and equipment term loan.The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, SVP / National Sales Manager said, “We were able to structure a credit facility to repay the incumbent bank and provide the
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January 09, 2025 @ 08:15 AM
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Horizon Technology Finance, an affiliate of Monroe Capital, provided a $35 million venture loan facility to Onkos Surgical, of which $30 million has been initially funded.Onkos intends to use the proceeds of the loan facility to accelerate manufacturing and commercialization of NanoCept™, a groundbreaking, antibacterial coating technology that is used on FDA-granted orthopaedic implants to reduce bacterial contamination at the time of implantation. Bacterial contamination of implants is a
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January 09, 2025 @ 08:12 AM
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Huntington National Bank's commercial banking segment continues to expand its corporate, specialty and government banking business with the addition of two industry verticals: the Financial Institutions Group and the Aerospace & Defense Group.The new verticals are part of Huntington Commercial Bank's recent geographic and vertical expansion. The bank recently expanded its middle market banking presence in North Carolina, South Carolina and Texas, in addition to launching a diverse range of new
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January 09, 2025 @ 08:11 AM
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Middle market private companies in the Golub Capital Altman Index grew earnings by 9% during the first two months of the fourth quarter of 2024. Revenue grew 6% during the same period.Lawrence E. Golub, CEO of Golub Capital, said, “Revenue and earnings growth remained strong for companies in the Golub Capital Altman Index for the ninth consecutive quarter. The Consumer sector of the Index stands out for posting higher revenue and earnings growth rates in Q4 than in any other quarter of 2024. The
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January 09, 2025 @ 08:10 AM
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P10, a leading private markets solutions provider, announced that its strategy, Bonaccord Capital Partners, a private equity business focused on providing growth capital and strategic support to middle-market private markets sponsors, closed on its second GP Stakes fund, Bonaccord Capital Partners II (“BCP II” or the “Fund”), with $1.6 billion in total commitments.The Fund closed at its revised hard cap and above its target of $1.25 billion, having grown by 117% compared to its predecessor fund
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January 09, 2025 @ 08:05 AM
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BankFinancial announced the appointment of Forrester Faia as Vice President and Regional Commercial Financial Leader for the Illinois market. This strategic addition reflects the bank’s ongoing commitment to delivering unparalleled financial solutions to middle-market businesses.In his new role, Faia will spearhead efforts to connect companies in the greater Chicago area with BankFinancial’s full suite of commercial banking services. With over 25 years of expertise in commercial finance
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January 09, 2025 @ 07:34 AM
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