Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, announced that Kevin McGuire, previously the Chief Information Officer (CIO), has been appointed as the new Chief Operating Officer (COO), effective immediately. McGuire succeeds Michael Gilles, who is retiring after a distinguished career with the bank. In his new role, McGuire will assume responsibility for driving the bank's operational efficiency and aligning its
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First Citizens Bank announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $40 million revolving credit facility to B&W Fiber Glass Inc., a distributor of fiber glass and manufacturer of technical textile fiberglass and reinforcement materials. B&W Fiber Glass was founded in 1998 and remains a family owned and operated business headquartered in Shelby, North Carolina. Their fiberglass is used by a wide range of industries in such
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Gordon Brothers has expanded the firm’s leasing and lending teams.As part of this expansion, Elijah Kaplan, Managing Director, Lending, and Steve Sanders, Managing Director, Equipment Finance, Eastern Region, have recently joined Gordon Brothers to continue to support the firm’s growth.Kaplan works closely with the North America Lending team to accelerate the firm’s lending initiatives, taking on all aspects of deals from origination to execution to provide holistic solutions to lenders and
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Utica Equipment Finance announced the completion of a transaction totaling $4,900,000 in the second week of July.
A $4,900,000 capital lease for a customer from California, focused on the development and manufacturing of electric vehicles. This equipment finance transaction will provide the company with additional working capital and is primarily secured by manufacturing equipment and robotics.
Utica Equipment Finance provides companies in a wide array of industries with collateral and
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Client: Texas-based Lone Star Pipe Services, LLC, is a family-owned and operated business specializing in industrial coatings. They offer a wide range of services, including a range of coatings, pipe restoration, repairs and storage. A start-up company, the principal had worked for a pipe coating company that was a previous nFusion Capital client. Situation: As a brand-new company, Lone Star needed working capital to purchase equipment and inventory, recruit skilled workers, meet payroll
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About the Company: Founded in 1978, this client is a Texas-based mechanical contracting firm that offers equipment and services to bulk liquid storage terminals and the pipeline industry. The firm has also expanded its offerings to include products and services for midstream and downstream oil and gas sectors such as: fabrication of oil measurement units, construction for all types of terminal operations, parts and equipment sales, and general meter maintenance, calibration and repairs. The
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Plante Moran promoted the following 25 new partners and two affiliated entity members:
Matthew Bohdan, risk and accounting advisory services, Southfield
Eric Bowers, Plante Moran Financial Advisors, East Lansing
Amanda Carrigan, risk and accounting advisory services, Denver Tech Center
Alicia Cole, wealth management, Detroit
Ben Cote, tax, Denver Tax Center
Adam Counts, assurance, Southfield
Ryan Defer, tax, Chicago
Stephen Eckert, tax, Chicago
Ryan Fedricks, Plante Moran Financial
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Alvarez & Marsal (A&M) announced the appointment of Managing Director Harry Kim within its rapidly growing Life Sciences (LS) group. Kim’s appointment follows on A&M's Life Science offering investments demonstrated by recent Managing Director hires James Guyton, Frank Orlowski and Rena Rosenberg. With more than a quarter century of life sciences and healthcare experience, Kim specializes in meshing cutting-edge technology into the highly regulated life science and healthcare ecosystem to access
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Blue Owl Capital entered into a definitive agreement to acquire the business of alternative credit manager Atalaya Capital Management LP for $450 million. The acquisition is expected to close in the second half of 2024, subject to customary closing conditions, and is expected to be modestly accretive to Blue Owl in 2025.Atalaya focuses primarily on asset-based credit investments across consumer and commercial finance, corporate and real estate assets, and managed over $10 billion of AUM as of
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BHI, the U.S division of Bank Hapoalim entered into an agreement with Lendbuzz—an AI-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle—to upsize the existing $20 million facility announced in March 2023 to now encompass a $50 million revolving line of credit. This $50 million line will provide Lendbuzz with additional working capital for general corporate purposes.BHI has enjoyed a long-standing relationship with Lendbuzz, having served as the
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Trinity Capital announced the commitment of $15 million in growth capital to Velentium, a professional engineering firm that specializes in the design and manufacture of innovative medical devices.Based in Houston, Velentium designs, develops, manufactures, and provides post-market support for medical devices, particularly active implantable and wearable devices. With expertise in systems engineering, software, cybersecurity, mobile/cloud solutions, and automated test systems, Velentium
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Webster Financial Corporation, the holding company for Webster Bank, announced its Board of Directors approved both the appointment of William (Neal) Holland, as Executive Vice President, Finance of both the Company and the Bank, and the election of William (Bill) Haas, as a new non-management member of the Board of Directors of the Company and the Bank.In addition, the Board of Directors also appointed Holland as the Chief Financial Officer (CFO) for the Company and the Bank to be effective
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eCapital appointed Peter Dahill as Chief Financial Officer (CFO). This strategic move demonstrates eCapital’s commitment to bolstering its executive team and advancing its fintech roadmap while ensuring seamless leadership succession. Current CFO Cris Neely will transition to Strategic Advisor, providing expertise and guidance to eCapital's CEO on key initiatives and future growth plans.Assuming the CFO position at eCapital, Peter will leverage his extensive experience as Executive Vice
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Based on a referral from a well-known California CPA firm, a rapidly expanding apparel manufacturer chose Republic Business Credit as its preferred factoring partner. Facing imminent deadlines for spring shipments, the LA-based clothing manufacturer sought a dynamic financing solution capable of scaling with its accelerated growth. Specializing in full-package garments for major national retailers, the apparel manufacturer's executive team boasts extensive experience in the apparel and textile
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Grant Thornton named Lawrence Griff to lead the firm’s Retail industry practice and Kelly Schindler to head up its Manufacturing industry practice. In their roles, Griff and Schindler will oversee the growth and operations of their respective industries, which encompass a full range of audit, assurance, tax, and advisory services. “The ever-evolving landscape of the manufacturing and retail industries demands agility and a growth-focused mentality,” said Alasdair Trotter, chief revenue officer
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