Wingspire Capital agented a $110 million senior secured revolving credit facility to Phillips Pet Food & Supplies. The credit facility was used to refinance existing debt and provide enhanced liquidity as the business continues to grow and expand its brand offering. Headquartered in Easton, PA, Phillips Pet Food & Supplies carries one of the nation’s largest selections of pet food and treat brands including labels such as Nestle Purina, Diamond, Fromm, Tuffy’s, Mars, Wellness, Canidae and
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NineDot Energy, a developer of community-scale battery storage projects in the New York City metro area, closed an additional $25 million revolving credit facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority. This facility extends and increases the early-stage standalone storage financing completed by NYGB — announced one year ago — to $50 million. For NineDot Energy, this financing will help fund the Company’s growing pipeline of
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Car Capital Technologies, a partner for independent and franchise automotive dealerships seeking innovative financing solutions, announced major funding commitments to continue to expand the business, further enhance origination capabilities and drive significant portfolio growth. The company has successfully closed a senior/subordinate warehouse financing facility and secured lead equity investments from two strategic partners as part of its recently launched Series B funding round.In a move to
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Pinnacle Financial Partners has named Charissa Sumerlin the firm’s Chief Credit Officer. She succeeds Harvey White, who served as Interim Chief Credit Officer following the sudden death of Tim Huestis in late 2023. The Board of Directors unanimously voted to approve Sumerlin’s appointment at its meeting on July 16.“Charissa was the clear choice for this role, and we welcome her to Pinnacle’s senior leadership team,” Pinnacle President and CEO M. Terry Turner said. “She has been a critical leader
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Mirate Equity announced the provision of a $25 million loan to Star Developments, a prominent real estate development company based in Texas. This strategic funding will support Star Developments in its ambitious expansion plans across the state.The loan from Mirate Equity LLC will be utilized by Star Developments to acquire and develop prime real estate properties in key Texas markets, including Dallas, Austin, and Houston. The funding will enable the company to enhance its portfolio, focusing
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Clarus Capital successfully completed a new $6 million loan facility for a sponsor-backed, tech-enabled business services provider. Funding proceeds will be used to acquire material handling equipment and finance critical information technology infrastructure upgrades. This strategic financing supports the company’s ongoing initiative to expand its operational capabilities and effectively meet the increasing demands of its customers. Clarus CEO Steve O’Leary stated “Our client is an essential
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A Tiger Group auction on July 23 features late-model, state-of-the-art equipment that is excess to the ongoing operations of a renewable energy technology company. The timed, online auction, which includes assets at a Lakewood facility, closes on Tuesday, July 23, at 10 a.m. (PT). Bidding opens on Tuesday, July 16, at SoldTiger.com. “We are extremely pleased to be selected for this project,” said Jonathan Holiday, Director of Business Development, Tiger Commercial & Industrial. “This is a
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Trinity Capital announced certain highlights for the first half and second quarter of 2024. Trinity funded a record $474 million of investments in the first half of 2024 and originated $289 million of total new commitments in the second quarter, bringing total new commitments for the first half ended June 30, 2024, to $576 million."Trinity is executing across all of our strategies to deliver strong growth in 2024," said Kyle Brown, Chief Executive Officer of Trinity Capital. "Our five distinct
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Lloyds Bank and Oaktree Capital Management announced a strategic partnership (the “Partnership”) to support UK middle-market sponsor-backed borrowers. Lloyds Bank Structured Debt Finance team will partner with Oaktree’s European Private Debt platform to provide clients with a comprehensive senior debt solution for new buyouts and refinancings with term debt, acquisition and working capital facilities in addition to agency and full ancillary product services. Building on Lloyds Bank’s
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The number of terminated private equity-backed deals globally fell 86.2% year over year to just four in the second quarter, according to data from S&P Global Market Intelligence.The decrease in terminated deals suggests a stronger closing momentum in recent periods, as buyers and sellers bridge valuation gaps more effectively.In 2023, private equity relied on earnout provisions to address valuation challenges. The provisions became less common as sales processes grew competitive, and the economy
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After executing over $100 million of commitments over the last six months, TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, announced that it is serving as the exclusive financing partner of Andover Storage Lending, a recently launched platform that seeks to originate non-recourse financing for self-storage sponsors nationally. This partnership meaningfully expands TPG Angelo Gordon’s relationship with Andover Properties, a leading owner and operator of
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WSFS Bank, the primary subsidiary of WSFS Financial Corporation, announced the hire of Stacey Ioia as Senior Vice President, Director of Enterprise Fraud Risk Management, reporting to Michael Dzielak, Senior Vice President, Director of Financial Crimes.Ioia will be responsible for leading the Enterprise Fraud Risk Management Program, including the direct supervision of Associates who prevent, detect, and mitigate financial criminal activity and potential financial losses.“We are very excited to
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Blank Rome announced that Ryan T. Purpura, Matthew “Matt” D. Lea, and Ryan A. Haddad have joined the firm as partners and members of the Energy industry team. All three partners bring significant experience in the energy sector, with a focus on oil and gas and related energy transactions, financings, and project development. They join Blank Rome from Reed Smith LLP, where Purpura served as co-chair of the firm's global energy and natural resources industry group. The trio joins Blank Rome in the
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Alvarez & Marsal Tax, an affiliate of Alvarez & Marsal (A&M), announced the appointment of Jose Manuel Ramirez as a Managing Director joining the Latin America Complex Transaction Tax team in New York. Ramirez brings over 30 years of experience advising multinationals on local, regional and global transactions encompassing domestic and international corporate and personal tax planning. He helps clients navigate centralized offshore treasury, cross-border transactions, mergers and acquisitions
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Star Mountain Capital announced that James Camarda has joined as a Managing Director in Star Mountain’s Tampa, Florida office.Camarda brings two decades of expertise in the alternative investment sector, having collaborated with some of the world’s leading alternative investment firms. Camarda has advised financial advisors, family offices, foundations, endowments, and individuals on leveraging alternative investments to optimize their investment objectives, including portfolio
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