U.S. Bancorp announced that President Gunjan Kedia will become the company’s chief executive officer at the conclusion of the organization’s annual meeting of shareholders on April 15. Kedia also was elected to the company’s Board of Directors. Current Chairman and CEO Andy Cecere will serve as executive chairman, continuing to lead the Board of Directors and supporting Kedia as she assumes her new role.“One of the hallmarks of U.S. Bancorp is its thorough and measured approach to succession
Read Story
January 29, 2025 @ 08:15 AM
|
Hilco Real Estate (HRE) has expanded New York City office with the addition of four seasoned real estate professionals, enhancing the firm's established presence in the Northeast region. Jeff Hubbard and Katie DeCoste join as senior managing directors and Christian Koulichkov as managing director, all focusing on asset disposition services. Additionally, Todd Eyler joins as senior vice president specializing in lease advisory services.Each new team member brings over two decades of experience in
Read Story
January 29, 2025 @ 08:08 AM
|
Republic Business Credit announced the promotion of Bruce Sarver to Senior Vice President, Portfolio Manager of its Asset-Based Lending (ABL) Team. This promotion underscores Republic’s commitment to expanding its ABL portfolio and strengthening its position as a market leader in the middle and lower middle-market sectors.Bruce Sarver will report directly to Republic’s Chief Operating Officer, Matthew Begley. Sarver began his career in the secured finance and lending field in 2013 as an
Read Story
January 29, 2025 @ 08:03 AM
|
On.Energy, one of North America’s fastest growing power asset owners and proven end-to-end integrator of battery energy storage projects, has closed construction credit facilities provided by Pathward and BridgePeak Energy Capital to build its 160 MWh Palo de Agua battery storage portfolio across the state of Texas. This new financing will allow On.Energy to accelerate its U.S. business growth, which already includes 80 MWh of operational assets in Houston and a combined 2 GWh+ of battery energy
Read Story
January 29, 2025 @ 08:01 AM
|
Versana announced the addition of Bain Capital Credit as a subscriber to its centralized, digital data platform. Bain Capital is one of the world’s leading private investment firms specializing in corporate credit and has become the 13th top-tier financial institution to join Versana’s innovative platform.Bain Capital will directly benefit from Versana’s high-quality data offering, which will increase operational efficiencies and reduce costs. The firm is also an early adopter of the recently
Read Story
January 29, 2025 @ 08:00 AM
|
Ameresco, a leading cleantech integrator specializing in energy efficiency and renewable energy, successfully refinanced and expanded its term loan and revolving credit facility. The Company entered into a sixth amended and restated senior secured credit agreement with a syndicate of lenders, including Bank of America, Keybank, Cooperative Rabobank, New York Branch, Webster Bank and HSBC Bank USA.The new credit agreement replaces and extends Ameresco’s existing credit agreement and provides up
Read Story
January 29, 2025 @ 07:55 AM
|
Cloud Capital Funding has continued it’s plan on closing a deal per week with the latest being the successful funding of a $750,000 accounts receivable factoring facility to a Florida based parking lot paving and striping company. With 8 years of expertise in the industry, the company specializes in parking lot asphalting, repair and striping for Prime Contractors, shopping mall and commercial building owners.The funding from Cloud Capital Funding will play a pivotal role in allowing their cash
Read Story
January 29, 2025 @ 07:00 AM
|
Coral Capital Solutions announced a $42 million annual factoring facility with a long standing business that manufactures and distributes a broad range of medical devices that was in the process of an M&A transaction. During the acquisition of the company, the new management team reached out to Coral Capital to structure a working capital facility that the company would need in order to ramp up its operations following the closing of the M&A transaction. “With the completion of its acquisition
Read Story
January 29, 2025 @ 06:00 AM
|
The RMR Group entered into a new $100 million senior secured revolving credit facility. The initial maturity date of the new credit facility is January 22, 2028, and it includes a one-year extension at RMR’s option, subject to payment of extension fees and satisfaction of other customary conditions. Amounts drawn under the new credit facility bear interest at a variable rate based on SOFR plus a margin of 2.25% per annum. Undrawn amounts under the new credit facility incur a fee of 0.50% per
Read Story
January 28, 2025 @ 08:17 AM
|
Party City Holdco Inc. (PCHI) has entered into a stalking horse agreement to sell substantially all of its intellectual property and related wholesale operating intangible assets to New Amscan PC, LLC, an affiliate of Ad Populum, LLC, as part of the Company's Chapter 11 process. This pivotal agreement marks a significant step toward ensuring continuity in the multibillion dollar party supply industry. The sale agreement is subject to higher or otherwise better offers and Bankruptcy Court
Read Story
January 28, 2025 @ 08:16 AM
|
Oaktree Capital Management announced the addition of several senior investment professionals to its growing Asset-Backed Finance (“ABF”) strategy. Rana Mitra joined as a Managing Director in Oaktree’s New York office after spending over 15 years at Atalaya Capital Management. Stephanie Masters joined as a Senior Vice President in Oaktree’s Los Angeles office after stints at Waterfall Asset Management and Allen & Overy. Matthew Scheer joined as a Vice President in Oaktree’s New York office
Read Story
January 28, 2025 @ 08:13 AM
|
Trinity Capital announced the commitment of $30 million in growth capital to Elucent Medical ("Elucent"), a pioneering medical technology company transforming the field of guided surgical technologies.Elucent amplifies the field of surgical guidance, transforming standard instruments into smart tools with In-Body Spatial Intelligence™, giving physicians true 3D surgical awareness for unmatched precision. Based in Eden Prairie, Minnesota, Elucent developed the EnVisio® System, which uses a
Read Story
January 28, 2025 @ 08:12 AM
|
Houlihan Lokey announced that Bill Scheuerer has joined as a Managing Director in its Capital Markets Group. Based in New York, Scheuerer will support the firm’s private capital financing efforts across all industry verticals. Scheuerer joins following eight years at Lazard, where he most recently was a Managing Director in its Capital Solutions Group, focused on advising private-equity-owned, family-owned, and public companies on debt and equity financing transactions. Prior to Lazard, he was
Read Story
January 28, 2025 @ 08:10 AM
|
Holland & Knight has further strengthened its Financial Services Team with the addition of Evan Kelson as a partner in New York. He was previously a partner at Mayer Brown. The addition of Mr. Kelson follows the recent recruitment of Dimitri Nionakis, a financial services partner in Boston."Evan brings to our Firm more than 20 years of experience and a wealth of knowledge in finance, structured finance, private credit, receivables sale financings and trade finance,” said Matthew Fontane
Read Story
January 28, 2025 @ 08:00 AM
|
Client: Founded in 1984 in Anaheim, California, this employee-owned construction company specializes in interior and exterior wall systems, metal framed panels and partitions for commercial, institutional, and industrial clients, and constructing themed facades for the entertainment and gaming industries. Their customer base comprises a wide range of general contractors, and the Company has a solid foundation for consistent growth. Situation: The Company needed additional working capital, but
Read Story
January 28, 2025 @ 07:52 AM
|