Mesirow, an independent, employee-owned financial services firm, has acquired Bastion Management, an asset-backed specialty finance lender. The acquisition closed on December 31, 2024.Founded in 2013 and based in Stamford, CT, Bastion is a private credit manager that focuses on the asset-backed specialty finance space, lending to the lower middle market across sectors and geographies and creating bespoke financing solutions that seek compelling returns with robust downside protection. The firm
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January 07, 2025 @ 08:15 AM
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Solifi, a global fintech software partner for secured finance, announced the appointment of Dan Corazzi as its new Chief Executive Officer, effective on 13th January 2025. Solifi’s current CEO David Hamilton will transition into the role of Chairman. Corazzi joins from JAGGAER, a leading global provider of procurement software, where he held the position of Chief Revenue Officer and was responsible for all customer facing activity. During his 25-year career in enterprise software, Corazzi has
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January 07, 2025 @ 08:12 AM
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Siena Lending Group announced an increase and extension to its senior credit facility with Wells Fargo Capital Finance to $850 million. The amendment also includes an accordion of $100 million. Siena is a leading independent asset-based lending business, supporting middle market companies with credit facility requirements of $10-$100MM. Siena operates nationwide throughout the U.S. and Canada.“We greatly appreciate the continued support from Wells Fargo and the 14-bank syndicate,” said Scott
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January 07, 2025 @ 08:10 AM
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Ares Commercial Finance provided a $25 million senior secured revolving line of credit to Herschel Supply Co., a Vancouver-based distributor and retailer of bags and accessories. Proceeds from the financing will provide the Company additional liquidity for working capital.The Company is based in Vancouver, British Columbia, and is a leading supplier of bags and accessories. It offers backpacks, duffels, totes, cross-bodies, hip packs, hard- and soft-shell luggage, travel kits, casual apparel and
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January 07, 2025 @ 08:05 AM
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Asset Compliant Solutions (ACS), announced the appointment of Leslie Skwara as Vice President of Finance. The appointment reflects ACS's commitment to building a strong operational foundation for continued innovation and growth.Skwara joins ACS with a proven track record of driving organizational transformation and sustainable growth in innovation-focused companies. Most recently as VP of Operations and Finance at Mongoose Research Inc., she partnered with the executive team to achieve a 20%
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January 07, 2025 @ 08:00 AM
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Rosenthal & Rosenthal completed a $4 million purchase ordering financing facility to support a U.S.-based global manufacturing company with a multi-faceted government contract. The company, a global manufacturer and supplier of aerospace and defense gear, wanted to take advantage of larger contracts with the U.S. government. Facing cash flow constraints that made it challenging to pursue new sales opportunities, the client’s third-party lender managing their account receivables referred them to
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January 07, 2025 @ 07:58 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 NationsBenefits’ acquisition of General Vision Services, an existing portfolio company of General Atlantic, The Pritzker Organization, and Denali Growth Partners.Based in New York, NY, General Vision Services is a premier managed vision care and revenue cycle management company. General Vision Services provides eyecare benefits and administration to millions of members across
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January 07, 2025 @ 07:28 AM
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Moritt Hock & Hamroff announced that Brian Adelman and Jodi B. Zimmerman have been elevated to Partner, while Allison Arotsky, Julie R. DeLe?n and Ronald P. Perry, have all been elevated to Counsel, effective January 1, 2025.The firm further announced that David S. Fitzhenry, a Partner of the firm, has been elected to serve as the Partner-in-Charge of its New York City office for which he will manage its day-to-day operations. Additionally, Brian Adelman, a Partner of the firm, has been
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January 07, 2025 @ 07:00 AM
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Legacy Corporate Lending closed a $19.4 million asset-based revolving line of credit for Olli Salumeria (“Olli”). The facility will be used to support the company’s growing operations and working capital needs. The deal, which is backed by accounts receivable, inventory, machinery and equipment, and intellectual property, was finalized in December 2024. Based in Oceanside, California, Olli is a leading supplier of salumi products. For over 170 years, Olli has used the skills passed down over
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January 06, 2025 @ 08:15 AM
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Gordon Brothers has sold the Laura Ashley® brand, archives and related intellectual property to Marquee Brands, the global brand accelerator.“This sale is a cornerstone moment for Gordon Brothers,” said Tobias Nanda, Head of Brands at Gordon Brothers. “We are thrilled with the huge success Laura Ashley experienced under our leadership and our work over the last four years to relaunch, reposition and expand the iconic British heritage brand globally.”After Gordon Brothers acquired the brand
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January 06, 2025 @ 08:12 AM
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Commercial chapter 11 filings increased 20 percent in calendar year 2024 to 7,879 from 6,583 filings the previous year, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings increased 17 percent to 30,009 from the 25,731 registered the previous year. Small business subchapter V elections within chapter 11 also experienced a substantial increase in calendar year 2024, as the 2,381 filings represented a 32 percent increase from
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January 06, 2025 @ 08:05 AM
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Eclipse Business Capital provided a $265 million senior secured credit facility to a consumer products distributor. The credit facility is secured by accounts receivable and inventory. The transaction will refinance the Company’s existing credit facilities and provide additional liquidity to support ongoing working capital and letter of credit needs.
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January 06, 2025 @ 08:03 AM
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A&G Real Estate Partners, real estate advisor to Party City Holdco Inc., announced plans to auction 695 Party City store leases as the nearly 40-year-old celebrations retailer begins to wind down its operations. Going-out-of-business sales are now underway at those retail locations. The bid deadline and auction likely will be in early February. “This is a large and diverse store portfolio, with good real estate and a great many stores located in high-traffic shopping centers,” said Emilio
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January 06, 2025 @ 08:00 AM
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Clarus Capital closed a $30 million equipment lease facility for a sponsor-backed packaging company. Financing proceeds facilitated the acquisition of new injection molding and production assets acquired as part of a new, long-term contract with a large global retailer.Clarus CEO Steve O’Leary said, “Clarus is pleased to serve as a financial partner for this company and support a strategic opportunity for one of its longest tenured customers. These assets will provide the company with
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January 06, 2025 @ 07:55 AM
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Piper Sandler announced the addition of Paul Leece, Jeremi Martin and Daniel Allmomen to its energy, power & infrastructure investment banking group. These three strategic hires, along with additional junior bankers, highlight a further expansion into the infrastructure sector, which includes not only traditional and renewable energy but also extends into the tech and transportation sectors.“This is an exciting chapter for our global energy, power & infrastructure investment banking team. The
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January 06, 2025 @ 07:00 AM
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