First Foundation announced the appointment of Thomas C. Shafer as its Chief Executive Officer. Shafer’s appointment follows the retirement of Scott F. Kavanaugh, who has served the Company as CEO since 2009 and as a member of the Board of Directors since 2007.Shafer will also serve as First Foundation Bank’s Chief Executive Officer and has joined the Boards of Directors of First Foundation Inc. and First Foundation Bank.“I am honored to be First Foundation’s next Chief Executive Officer and I
Read Story
November 25, 2024 @ 08:15 AM
|
H-Food Holdings and certain of its affiliates (Hearthside), a leading food contract manufacturer, has entered into a global Restructuring Support Agreement (“RSA”) with its key stakeholders that will right size the balance sheet, infuse the business with significant equity capital, and position the Company for significant long-term growth. To consummate the transactions contemplated under the RSA, the Company has filed voluntary petitions for prearranged Chapter 11 cases in the United States
Read Story
November 25, 2024 @ 08:10 AM
|
TD Bank Group appointed Michelle Myers as Global Chief Auditor effective December 9, 2024. Ms. Myers succeeds Anita O'Dell, Senior Vice President and Global Chief Auditor and Interim U.S. Chief Auditor, who has informed the Bank of her intention to retire. Ms. O'Dell will continue to serve in an advisory role until May 31, 2025.Ms. O'Dell joined the Bank in 2010 and has served in a number of roles, including Global Chief Auditor, U.S. Chief Auditor and Deputy U.S. Chief Auditor. Throughout her
Read Story
November 25, 2024 @ 08:05 AM
|
eCapital secured a $45 million asset-based lending (ABL) facility for a privately held energy services company based in Texas.The client, a leader in specialized well services, provides technology-focused products across the energy sector. After six months with a previous lender that could not meet their growing requirements, the client transitioned to eCapital on the recommendation of a trusted private equity partner. Despite the costs associated with exiting their prior agreement, the client
Read Story
November 25, 2024 @ 08:03 AM
|
J.S. Held acquired substantially all of the assets of Luttrell Wegis, a highly specialized forensic accounting and business valuation firm serving clients throughout California and surrounding states.With 30+ years of experience, primarily in family law, the team of approximately 40 individuals with highly specialized backgrounds works with high-net-worth individuals and their legal counsel in a difficult chapter of life. The expertise of the team includes asset tracing, valuation & division of
Read Story
November 25, 2024 @ 07:53 AM
|
Women We Admire announced The Rising Star Women Leaders of Banking for 2024. The banking sector, an ever-evolving industry with significant influence on the global economy, relies on adaptable, strategic leaders to navigate its complexities. As the industry adapts to technological advancements, regulatory changes, and shifting consumer needs, success requires not just resilience but also a keen ability to drive innovation and lead through transformation.As determined leaders, this year's
Read Story
November 25, 2024 @ 07:52 AM
|
Gordon Brothers is offering for sale by private treaty two commercial vessels, the A.M.S. Swissco and A.M.S. 1806, presenting a unique opportunity for buyers seeking versatile, robust assets suitable for a range of maritime applications. Built in 2012 by Jiangsu Suyang Marine Co. Ltd., A.M.S. Swissco is a shallow draft, high-performance workboat flagged in Australia and located in Singapore. The 28-meter vessel, powered by two CAT 3412C DITA engines and supported by two CAT 3406C DITA generators
Read Story
November 25, 2024 @ 07:00 AM
|
S&P Global Market Intelligence has released an analysis examining the key strategic trends and opportunities that are expected to drive the M&A narrative through 2025. The newly published report, M&A Outlook: Bright spots, shadows on dealmaking horizon, is part of S&P Global Market Intelligence's Big Picture 2025 Outlook Report Series. M&A announcements have showed signs of increasing in 2024 but remain below pre-pandemic levels and are far off 2021's record levels. Achieving new peaks will
Read Story
November 25, 2024 @ 07:00 AM
|
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
Read Story
November 22, 2024 @ 08:15 AM
|
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
Read Story
November 22, 2024 @ 08:10 AM
|
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
Read Story
November 22, 2024 @ 08:05 AM
|
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
Read Story
November 22, 2024 @ 08:00 AM
|
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
Read Story
November 22, 2024 @ 07:56 AM
|
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
Read Story
November 22, 2024 @ 07:18 AM
|
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
Read Story
November 22, 2024 @ 07:04 AM
|