U.S. Bank announced a realignment of its asset-based finance organization to best serve its current clients and meet the growing demand for asset-based financing products. John Freeman was named Head of Sales & Originations for U.S. Bank Asset Based Finance. He most recently led coverage for ABF clients across the Western U.S. and various industry verticals.Freeman is an industry veteran who joined the bank in 2020 from JPMorgan and has more than 30 years of banking experience. The team has been
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November 22, 2024 @ 08:15 AM
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EverBank has expanded its commercial banking portfolio with the launch of its Public Finance division. Industry expert Trevor Mael, a proven leader in the public finance space, has been appointed as director to lead the division.The Public Finance division will focus on providing customized financial solutions to municipalities and local government agencies, including offerings such as loans and funding for infrastructure improvements and development projects. The division focuses on the
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November 22, 2024 @ 08:10 AM
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Marathon Asset Management and Webster Bank closed a senior-secured financing agreement for Sunbelt Modular, Inc. to support its acquisition by funds advised by Littlejohn & Co., LLC. Sunbelt is a leading designer and manufacturer of modular building solutions.Founded over 45 years ago, Sunbelt provides a robust suite of highly engineered structures for custom and fleet applications that serve a diverse set of commercial end markets. The Company will continue to be led by CEO Ron Procunier, an
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November 22, 2024 @ 08:05 AM
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Pivot Energy ("Pivot"), a leading, national renewable energy provider and independent power producer, announced two transformational financing arrangements, marking a critical step toward establishing innovative and scalable financing facilities. Pivot has successfully secured a $450 million debt warehouse facility, led by long-time partner, First Citizens Bank, which includes new strategic partner ATLAS SP Partners ("ATLAS"), the warehouse finance and securitized products business majority
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November 22, 2024 @ 08:00 AM
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Pathward announced its expanded strategic partnership with BridgePeak Energy Capital (BridgePeak) to implement a digital-first renewables loan platform. Together, the partnership between Pathward and BridgePeak will facilitate industry innovation and the continued growth of clean energy and rural economic development.Focused on both project-level and corporate capital, the partnership allows Pathward to offer comprehensive solutions to solar and storage projects by leveraging BridgePeak’s
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November 22, 2024 @ 07:56 AM
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Alvarez & Marsal (A&M) announced the hiring of Gaurav Malhotra within its North American Commercial Restructuring practice as a Managing Director and Executive Committee member. Mr. Malhotra’s appointment builds on the recent addition of Managing Director Elan Ben-Avi and underscores the practice’s continued strategic plan for continuously expanding its talent and leadership ranks to best serve clients navigating turnaround complexities amidst market volatility. Malhotra helps clients solve for
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November 22, 2024 @ 07:18 AM
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Late-model and low-hour gear surplus to the ongoing operations of Greater Than Entertainment (GTE), a full-service audio, video and lighting provider, goes to auction on December 5 in the final Tiger Group AV auction of 2024. The gear from GTE, which boasts more than 20 years of experience in Denver and serves clients nationwide, includes moving lights, static lights, lighting consoles, LED video walls, projectors, speakers, audio consoles, power distribution and more. Bidding for the timed
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November 22, 2024 @ 07:04 AM
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Finding the right financial partner is critical for every company but especially for start-ups, which is why an East Coast temporary staffing firm sought out an industry expert in Republic Business Credit. By partnering with Republic, the temporary staffing company was able to unlock the necessary working capital to meet all its payroll needs so it could focus on growing the business. The founder said, “It felt great to match our funding needs with staffing experts who could help us achieve our
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November 22, 2024 @ 06:00 AM
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First Citizens Bank announced that its Healthcare Finance division has closed a $125 million senior credit facility for New Day Healthcare, a market-leading provider of home-based services. The funding will refinance New Day’s existing debt, facilitate four acquisitions under letters of intent, and support future acquisition pipelines. First Citizens Bank acted as the lead arranger and administrative agent for the transaction.Founded in 2020, New Day Healthcare is a diversified provider of
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November 21, 2024 @ 08:15 AM
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Bank of America named Ed Siaje President of Bank of America Detroit. As president and head of the market, he will connect clients, teammates and communities to the full power of the franchise and drive integration across the bank’s eight lines of business. He succeeds Matt Elliott, who recently retired from the company.Siaje will also oversee the bank’s efforts to grow market share and lead the effort to deploy the bank's resources to help advance economic mobility and build strong communities.
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November 21, 2024 @ 08:07 AM
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Fifth Third Bank announced Matt Nipper as Northern Ohio RegionPpresident. Nipper succeeds Tom Partridge, who is serving as group regional president.As Region President, Nipper is responsible for the growth and strategic alignment of the Bank’s commercial, wealth & asset management and treasury management businesses throughout Northern Ohio. He joined Fifth Third in April as Cleveland market president.“I look forward to working with our talented team to continue driving growth and delivering
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November 21, 2024 @ 08:06 AM
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Cadence Bank announced that Brad Silcox has joined the organization as Executive Vice President and President of Asset Management and Trust. Silcox has spent the past 20 years at Wilmington Trust, a subsidiary of M&T Bank, in various executive leadership roles including president of the Southeast region and chief administrative officer of wealth markets. He is a strategic leader with a proven track record of developing high-performing teams, building client relationships and leading
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November 21, 2024 @ 08:00 AM
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SSG Capital Advisors (“SSG”) served as the investment banker to Anada Inc., OvaInnovations, LLC, and Crimson Holdings, LLC in the sale of substantially all its assets to Veos USA Inc. (“Veos”). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Western District of Wisconsin. The transaction closed in November 2024. Founded in 2020, OvaInnovations produces high-quality dried egg products primarily for the pet food industry. The eggs are
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November 21, 2024 @ 08:00 AM
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eCapital appointed Chris Huntington as SVP, Business Development Officer within its ABL Group. Based in Boston, Massachusetts, Huntington will enhance the company’s presence on the East Coast, bringing a wealth of specialty finance experience to the role.Huntington is a seasoned professional with an extensive background in commercial and corporate banking, specializing in asset-based lending and trade finance. He has held key roles at Sallyport Commercial Finance, Virgin, Aldermore Bank PLC, and
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November 21, 2024 @ 07:58 AM
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Gateway Trade Funding, a PO and Stretch Financing company, recently completed the following stretch finance transactions:
A $300,000 facility to a US oil and gas equipment company selling to US corporations.
A $750,000 facility to a US supplier of laboratory solutions selling to US corporations.
A $140,000 facility to a US supplier of Jello shots to US Distributors.
A $300,000 facility to a US supplier of swimsuits selling to US retailers.
A $350,000 line of credit facility to a US
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November 21, 2024 @ 07:49 AM
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