B. Riley Financial announced that a formerly wholly-owned subsidiary of the Company has merged with Cascadia Investments, Inc., a shell entity, as a result of which certain investors in Cascadia became minority stockholders of BRF's investment banking subsidiary, B. Riley Securities ("BRS").As part of the tax-free transaction, BRS is implementing its own operating and governance structure, and its common stock will now be quoted on the OTC Pink market under the ticker symbol "BRLY." BRS will
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March 12, 2025 @ 08:15 AM
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Andalusian Credit Partners, a leading middle market direct lending platform focused on diversified senior secured leveraged lending to non-sponsored and sponsor-backed companies, has strengthened its team with senior talent as ACP continues to strategically scale its business. Moses Awe, former Senior Director of Finance at Hercules Capital, Inc., the world’s largest business development company focused on venture lending, and Sandy Climan, CEO of Entertainment Media Ventures, have joined the
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March 12, 2025 @ 08:12 AM
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Trinity Capital, a leading international alternative asset manager, announced the appointment of Zach Taffet as Director of Capital Formation & Investor Relations. Taffet will help drive the strategic direction for the Company's private fund strategies and management of institutional capital through its RIA platform.Taffet brings nearly a decade of experience in capital raising and investor relations, most recently as a member of BlackRock's Infrastructure Capital Formation Team for their
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March 12, 2025 @ 08:10 AM
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Mountain Ridge Capital (“MRC”) and Accord Financial, Inc. provided a senior secured credit facility totaling $45 million to a plastic moldings manufacturer. As an existing borrower, the Company has seen significant growth over the past year, prompting MRC to increase the facility size to better support its continued expansion.Michael Carlson, Director of Originations for the Rockies and West Coast stated, “MRC always hopes to support our high growth borrowers through the next phase of their
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March 12, 2025 @ 08:05 AM
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First Citizens Bank's Energy Finance business served as lead arranger on approximately $133 million in financing on behalf of Cypress Creek Renewables to support the development of the Destiny Storage project, a utility-scale, standalone battery energy storage system in Texas.Cypress Creek Renewables is a leading renewable energy developer and independent power producer. It develops, finances, operates and owns solar and energy storage projects across the United States, bolstering the country’s
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March 12, 2025 @ 07:58 AM
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Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, agented a $45 million senior secured revolving credit facility.
The financing, in partnership with Wingspire Capital, will support an industry-leading provider of bed and bath softline products. The new facility will fund the company’s working capital needs, fueling its growth and operational efforts.
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March 12, 2025 @ 07:51 AM
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SLR Business Credit funded a $15 million asset-based revolving line of credit to a transportation and logistics company. The credit facility was used to pay down the previous lender and to provide working capital to support the company's continuous growth and expansion.The company provides transportation solutions through asset-based dry, refrigerated, and specialized full truckload, less-than-truckload, and brokerage services, with operations based in the Midwest, and a nationwide reach through
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March 12, 2025 @ 07:43 AM
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Clifford Chance hired partner Bryan Luchs, expanding its Corporate M&A practice and capability in the health and life sciences sector. Joining from White & Case, Luchs brings more than 28 years of experience representing acquirers, targets, boards of directors, special committees, investors and investment banks in complex domestic and cross-border deals including negotiated, unsolicited and in public and private transactions. Luchs has advised across a range of industries and has deep experience
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March 12, 2025 @ 07:30 AM
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Quarles & Brady announced that Michael Fehser has rejoined the firm’s Phoenix Office as a partner in the Business Law Practice Group.Fehser handles complex transactions and operational matters for corporate clients, including private equity funds and their portfolio companies, and other privately held businesses, focusing on mergers and acquisitions (M&A), growth equity investments, debt financings and general corporate matters. Fehser also serves as outside general counsel to early-stage
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March 12, 2025 @ 07:00 AM
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Blackstone announced that the Blackstone Private Multi-Asset Credit and Income Fund (BMACX) has been declared effective by the U.S. Securities and Exchange Commission.This marks a significant milestone for BMACX, which will aim to provide individual investors a one-stop, private multi-asset credit solution designed to access strategies across Blackstone’s $453 billion credit platform through an interval fund structure. BMACX will invest across private corporate credit, asset based and real
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March 11, 2025 @ 08:15 AM
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Silver Point Capital announced that its Direct Lending business has led the financing supporting the previously announced acquisition of Brightcove Inc., a U.S.-based streaming technology company, by Bending Spoons, the Italy-based technology company.In connection with its $233 million acquisition of Brightcove, which has closed, Bending Spoons has raised a $600 million secured term loan to fund the transaction and to add cash to the balance sheet primarily to support future acquisitions and
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March 11, 2025 @ 08:00 AM
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First Citizens Bank announced that its CIT Commercial Services subsidiary provided a $45 million non-recourse factoring facility to a sponsor-owned, technology-driven logistics services company in the Mountain States region.The transaction was referred by Silicon Valley Bank, a division of First Citizens Bank, which provided an additional asset-based credit facility supported by non-factored accounts and other assets.By leveraging First Citizens Bank’s collective expertise in structured lending
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March 11, 2025 @ 07:59 AM
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Client: An established Arizona contractor provides commercial and residential glass as well as commercial wood and metal doors. Clients include large hotels, hospitals, office buildings and retail locations as well as residential clients requiring specialty applications in custom glass, mirrors and shower surrounds.Situation: In the midst of an acquisition, the buyer required additional capital to complete the deal, however their existing bank does not lend in the construction industry. They
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March 11, 2025 @ 07:56 AM
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the growth of a360inc (“a360”) and ProVest, LLC (“ProVest”, together, the “Company”) by funds sponsored by Morgan Stanley Investment Management, Knox Capital, and Nonantum Capital Partners.Founded in 1991 and headquartered in Tampa, FL, ProVest is a legal support services firm, offering specialized expertise in managing service of process and other creditors’ rights for major
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March 11, 2025 @ 07:47 AM
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Flatbay's client is a seasoned entrepreneur and national commercial real estate developer. They have overseen the development of more than 50 projects, including multifamily, office, retail, and industrial spaces.The Situation: The entrepreneur qualified for traditional bank financing, but chose an alternative funding approach to secure flexible funding and shorter repayment terms. The entrepreneur was introduced to Lili Tafilaj, BDO of Flatbay Capital.The Solution: Flatbay Capital secured a
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March 11, 2025 @ 07:11 AM
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