Janus Henderson Group, a leading global active asset manager, has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors, LLC (“VPC”), a global private credit manager with a nearly two decade-long track record of providing customized private credit solutions to both established and emerging businesses. VPC complements Janus Henderson’s highly successful securitized credit franchise and expertise in public asset-backed securitized markets, and further
Read Story
August 13, 2024 @ 08:00 AM
|
KeyCorp has reached an agreement under which The Bank of Nova Scotia (Scotiabank) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9 percent pro forma common stock ownership, for a fixed price of $17.17 per share."Scotiabank approached us with a unique opportunity to raise capital on attractive terms. While we continue to be comfortable with our current capital position, we determined that the investment enables Key to accelerate
Read Story
August 13, 2024 @ 07:59 AM
|
According to an August 12, 2024 Bloomberg report by David Voreacos, B. Riley Financial Inc. is struggling to value its assets after months of concern about flawed accounting and a federal investigation culminated in a 52% one-day plunge.According to the Bloomberg report, the investment firm said it couldn’t file its quarterly report with regulators on time, promising only that it would file “as promptly as practical.” The delay, it said, was due to problems in valuing its loans and
Read Story
Field Under:
August 13, 2024 @ 07:59 AM
|
Blink Fitness announced that the Company has made the strategic decision to execute an efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success. To facilitate the sale process, Blink has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware.Throughout its sale process, Blink intends to continue to provide members with the high-quality fitness experience they have come to expect. The
Read Story
August 13, 2024 @ 07:56 AM
|
Oxford Finance closed a $47 million senior credit facility to Creative Solutions in Healthcare, Inc. Funds drawn at closing were used to finance the acquisition of two skilled nursing facilities in Texas, totaling 228 beds. Additionally, the credit facility includes a substantial delayed draw commitment, providing the Company with the flexibility to finance future acquisitions.Creative Solutions in Healthcare is a family-owned company, headquartered in Fort Worth, TX, with more than 170
Read Story
August 13, 2024 @ 07:50 AM
|
Goetz Fitzpatrick inducted Adam H. Koblenz, Esq., into the partnership, marking a significant expansion in expertise and leadership within the firm. Koblenz transitions from Sahn Ward Braff Koblenz Coschignano PLLC, where his role as a named partner honed his leadership and legal acumen. As part of the merger with Platzer, Swergold et al, he will further solidify Goetz Platzer LLP's position in the legal domain as an equity partner, bringing his extensive experience in corporate, real estate
Read Story
August 13, 2024 @ 07:08 AM
|
When a renowned beverage manufacturing company found itself with insufficient working capital from its lender, it partnered with Republic Business Credit to expand its access to flexible working capital.Republic was introduced by a middle market Midwest consulting firm that needed a food and beverage industry expert that was able to structure a more growth-oriented working capital facility. The company has already exceeded budget by over 30% during its first quarter since being supported with a
Read Story
August 13, 2024 @ 07:00 AM
|
Inc. revealed that eCapital Corp ranks number 1968 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses.“Being named to the Inc. 5000 for the second year in a row is a true honor and a clear reflection of our dedication to innovation, client service, and growth,” said Marius Silvasan, CEO
Read Story
August 13, 2024 @ 06:00 AM
|
MidCap Business Credit closed on a $5,000,000 asset-based credit facility for Premier Engineered Products, a portfolio company of Colfax Creek. Through its operating subsidiary, Appalachian Cast Products, the company produces superior die cast parts and tooling, along with metal finishing and CNC machining through state-of-the-art machinery and processes. The business is headquartered in Abingdon, VA. The opportunity was sourced out of MidCap’s regional office in Atlanta, GA. Rusty Bramlett
Read Story
August 12, 2024 @ 05:24 PM
|
As part of its continuing study of Subchapter V of the Bankruptcy Code, ABI launched a website for professionals to share their experiences about the real-world impact of Subchapter V in helping small businesses reorganize and helping their creditors get paid. The site, available at https://abi.org/subvstories, allows professionals to share videos and written accounts about their experiences with distressed small businesses or creditors who have used or benefited from the subchapter. Subchapter
Read Story
August 12, 2024 @ 05:15 PM
|
Silver Point Finance, the direct lending business of Silver Point Capital, served as Administrative Agent, Collateral Agent, Joint Lead Arranger, and Joint Bookrunner in the $862 million Senior Secured financing supporting the acquisition of Whole Earth Brands, Inc. by Sweet Oak. The new Credit Facility led by Silver Point also has refinanced Sweet Oak's existing broadly syndicated loan in addition to funding the acquisition alongside Rhône and Mariposa Capital, LLC ("Mariposa").Sweet Oak, which
Read Story
August 12, 2024 @ 05:13 PM
|
Moritt Hock & Hamroff announced that Gary S. Rosner, a Partner and member of the firm’s Alternative Dispute Resolution and Litigation Practice Groups has been appointed to the Florida Supreme Court's Mediator Ethics Advisory Committee (MEAC) by Chief Justice Carlos G. Muniz for a four (4) year term through June 30, 2028. The Committee provides advisory ethics opinions for certified and court-appointed mediators. Rosner is a Florida Supreme Court Certified Circuit Civil and County Court Mediator
Read Story
August 12, 2024 @ 05:10 PM
|
Audax Private Debt announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Lightyear Capital in their acquisition of CuraLinc Healthcare, a provider of workforce and student mental health solutions and employee assistance programs to large and mid-sized employers. Founded in 2008 and headquartered in Chicago, IL, CuraLinc is an innovative provider of employee assistance (EAP), student and workforce mental health programs, including
Read Story
August 12, 2024 @ 05:00 PM
|
TriState Capital Bank announced Tim Merrell has joined the company as Senior Vice President, Relationship Manager, for its Philadelphia office. In this role, Merrell is responsible for the development and growth of middle-market Treasury Management client relationships, with a focus on increasing deposits and fee income."Tim’s reputation in the Philly market is that of a great partner," said Joe Finley, TriState Capital Bank’s Philadelphia regional president. "His relationship management
Read Story
August 12, 2024 @ 05:00 PM
|
B. Riley Securities served as exclusive financial advisor to Kimball Electronics, Inc. in the successful completion of the sale of its Automation, Test, and Measurement (AT&M) business to Averna Technologies. Headquartered in Indiana, Kimball Electronics is a global manufacturing solutions provider of electronics and diversified contract manufacturing services to customers around the world. The Company first entered the automation, test, and measurement industry with the acquisition of Global
Read Story
Field Under:
August 12, 2024 @ 05:00 PM
|