Second Avenue Capital Partners (SACP), a Schottenstein affiliate, closed a USD $20 million senior secured credit facility for Bouclair, a leading Canadian home brand and omnichannel retailer specializing in stylish and affordable home décor and furnishings. This new credit facility will enhance Bouclair’s liquidity and flexibility, supporting its continued growth and expanding wholesale opportunities. In addition to SACP’s credit facility, Bouclair also secured an additional financing commitment
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March 18, 2025 @ 08:15 AM
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BMO announced the appointment of Tony Sciarrino as Head, U.S. Commercial Bank. Sciarrino will report to both Nadim Hirji, Group Head, BMO Commercial Bank and Darrel Hackett, U.S. CEO, BMO. He will join BMO's U.S. Management Committee and the BMO Commercial Bank Executive Committee.Sciarrino brings over 30 years of financial services experience, with a track record of expanding commercial businesses and delivering exceptional client service. Most recently, he led commercial banking operations
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March 18, 2025 @ 08:10 AM
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FGI Worldwide announced the promotions of Nikki Rangra, Chris Fulman and David Ding to Senior Managing Director, expanding the firm’s leadership team. As Senior Managing Directors, Rangra, Fulman and Ding will be responsible for shaping the continued growth of FGI’s multi-jurisdictional asset-based lending product and partnering with current leadership to advance the firm’s broader operations, lending and risk objectives. Nikki Rangra leverages over 20 years of unique expertise in risk
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March 18, 2025 @ 08:05 AM
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Utica closed a $7,500,000 Capital Lease to support a leading precision manufacturing firm in its strategic acquisition of two complementary businesses specializing in high-quality machining and advanced tooling solutions. Secured by manufacturing and tooling equipment, this transaction provides essential acquisition financing and working capital to drive the consolidation of operations and facilitate growth. The lease supports the firm’s plan to integrate an ISO-certified precision machining
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March 18, 2025 @ 08:02 AM
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Global consulting firm J.S. Held announces that Chief Executive Officer (CEO) Jonathon (Jon) Held intends to step down as Chief Executive Officer. J.S. Held President and Chief Operating Officer (COO) Lee Spirer will succeed Jon Held as President and CEO. Jon Held will become Executive Chairman of the Board of Directors. As part of a planned succession, the leadership transition will take effect at the start of the second quarter of 2025. In his new role as Executive Chairman, Jon Held will
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March 18, 2025 @ 08:00 AM
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CIBC U.S. Asset Based Lending closed a senior credit facility to support New Water Capital Partners II, L.P.’s acquisition of Dutch Gold Honey, Inc., as well as provide working capital to fuel the continuing growth of the business and a comprehensive suite of banking services.Founded in 1946 in Lancaster, PA, Dutch Gold Honey, Inc. is a leading producer of ethically sourced honey in the U.S. The Company is well-known for its innovation, including the creation of the iconic plastic honey bear
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March 18, 2025 @ 07:43 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 the acquisition of Construction Specifications, Inc. (“CSI”) by Milrose Consultants, LLC, an existing portfolio company of Southfield Capital.Founded in 1974 and based in Morganville, NJ, CSI provides construction specifications and related services to architecture firms. CSI has contributed to both public and private renovation and construction projects worldwide, by
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March 18, 2025 @ 07:00 AM
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Wingspire Capital provided a $30 million revolver to Digital Media Solutions, Inc. The transaction was made in conjunction with Digital Media Solutions’ emergence from Chapter 11 bankruptcy reorganization and the completion of a court-supervised sale of substantially all of its assets to an investor group led by funds and accounts managed by BlackRock in addition to Bain Capital, Blackstone, and Abry Partners.Proceeds from the senior secured financing provide additional liquidity and flexibility
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March 17, 2025 @ 08:00 AM
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Heritage Global Capital (“HGC”), a subsidiary of Heritage Global Inc., specializing in flexible funding structures for the Accounts Receivable Management “ARM” industry, appointed Anastasia Suda as Executive Managing Director, to lead the Company’s specialty lending division.Anastasia Suda joined HGC in 2021 as Finance Manager and has over 22 years of experience in financial market research, corporate governance, and strategic decision-making. A seasoned leader, she has a strong track record of
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March 17, 2025 @ 07:56 AM
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SoFi Technologies finalized an up to $5 billion Loan Platform Business agreement for personal loans with funds managed by Blue Owl Capital, a leading asset manager with over $250 billion in assets under management. This move marks SoFi’s largest Loan Platform Business agreement to date.SoFi’s Loan Platform Business refers pre-qualified borrowers to loan origination partners as well as originates loans on behalf of third parties. The two-year deal with Blue Owl Capital managed funds reflects the
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March 17, 2025 @ 07:49 AM
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FTR’s Trucking Conditions Index (TCI) for January fell to -2.56, reversing December’s +2.67 reading. Higher diesel prices, weak freight rates and low freight volume contributed to the decline. The only positive factor was cost of capital, while volume and utilization had minor negative effects."January proved to be tough for carriers as we anticipated. Although we still forecast an improving market for trucking companies in the months ahead, we remain very concerned that the great uncertainty
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March 17, 2025 @ 07:47 AM
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Sterling Bancorp, the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System of the Company’s sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation (“EverBank”), which is the final regulatory approval needed to complete the sale transaction. The Company announced earlier today that EverBank had received
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March 17, 2025 @ 07:45 AM
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Post Road Equipment Finance ("PREF") successfully closed a $40 million sale-leaseback transaction with a leading global manufacturer of complex engine components for the aerospace and power generation industries. The manufacturer, a key player in several critical supply chains that span an array of end markets, will use this transaction to unlock vital liquidity.The $40 million financing transaction provided additional capital needed to boost production capacity in support of newly awarded
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March 17, 2025 @ 07:42 AM
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First Bank appointed Donna Calderaro as Market Executive for its Asset-Based Lending (ABL) business. In this role, she will report to Michael Maiorino, President of ABL and Florida Commercial Banking.Since the launch of First Bank’s ABL division in 2023, Donna has played a key role in driving new business development, managing customer relationships, and mentoring the lending team. With extensive experience in secured lending, she brings deep expertise in financial structuring and risk
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March 14, 2025 @ 08:15 AM
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Axos Bank, the nationwide bank subsidiary of Axos Financial Inc., announced the launch of its Middle Market Banking Division. Led by industry veteran Kristian (Kris) Ilkov, Axos will look to capitalize on disruptions in certain industry verticals. The Middle Market Banking team will provide hands-on relationship management for clients, including tailored banking solutions for middle market clients.Serving companies with revenues between $25 million to $3 billion in healthcare, gaming, aerospace
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March 14, 2025 @ 08:14 AM
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