The RMR Group entered into a new $100 million senior secured revolving credit facility. The initial maturity date of the new credit facility is January 22, 2028, and it includes a one-year extension at RMR’s option, subject to payment of extension fees and satisfaction of other customary conditions. Amounts drawn under the new credit facility bear interest at a variable rate based on SOFR plus a margin of 2.25% per annum. Undrawn amounts under the new credit facility incur a fee of 0.50% per
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January 28, 2025 @ 08:17 AM
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Party City Holdco Inc. (PCHI) has entered into a stalking horse agreement to sell substantially all of its intellectual property and related wholesale operating intangible assets to New Amscan PC, LLC, an affiliate of Ad Populum, LLC, as part of the Company's Chapter 11 process. This pivotal agreement marks a significant step toward ensuring continuity in the multibillion dollar party supply industry. The sale agreement is subject to higher or otherwise better offers and Bankruptcy Court
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January 28, 2025 @ 08:16 AM
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Oaktree Capital Management announced the addition of several senior investment professionals to its growing Asset-Backed Finance (“ABF”) strategy. Rana Mitra joined as a Managing Director in Oaktree’s New York office after spending over 15 years at Atalaya Capital Management. Stephanie Masters joined as a Senior Vice President in Oaktree’s Los Angeles office after stints at Waterfall Asset Management and Allen & Overy. Matthew Scheer joined as a Vice President in Oaktree’s New York office
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January 28, 2025 @ 08:13 AM
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Trinity Capital announced the commitment of $30 million in growth capital to Elucent Medical ("Elucent"), a pioneering medical technology company transforming the field of guided surgical technologies.Elucent amplifies the field of surgical guidance, transforming standard instruments into smart tools with In-Body Spatial Intelligence™, giving physicians true 3D surgical awareness for unmatched precision. Based in Eden Prairie, Minnesota, Elucent developed the EnVisio® System, which uses a
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January 28, 2025 @ 08:12 AM
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Houlihan Lokey announced that Bill Scheuerer has joined as a Managing Director in its Capital Markets Group. Based in New York, Scheuerer will support the firm’s private capital financing efforts across all industry verticals. Scheuerer joins following eight years at Lazard, where he most recently was a Managing Director in its Capital Solutions Group, focused on advising private-equity-owned, family-owned, and public companies on debt and equity financing transactions. Prior to Lazard, he was
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January 28, 2025 @ 08:10 AM
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Holland & Knight has further strengthened its Financial Services Team with the addition of Evan Kelson as a partner in New York. He was previously a partner at Mayer Brown. The addition of Mr. Kelson follows the recent recruitment of Dimitri Nionakis, a financial services partner in Boston."Evan brings to our Firm more than 20 years of experience and a wealth of knowledge in finance, structured finance, private credit, receivables sale financings and trade finance,” said Matthew Fontane
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January 28, 2025 @ 08:00 AM
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Client: Founded in 1984 in Anaheim, California, this employee-owned construction company specializes in interior and exterior wall systems, metal framed panels and partitions for commercial, institutional, and industrial clients, and constructing themed facades for the entertainment and gaming industries. Their customer base comprises a wide range of general contractors, and the Company has a solid foundation for consistent growth. Situation: The Company needed additional working capital, but
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January 28, 2025 @ 07:52 AM
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AFG and Lightbrook announced the launch of Alliance Equipment Finance, a new standard of efficiency and expertise to equipment financing. Specializing in transactions ranging from $5 million and $50 million, AEF offers businesses streamlined financial solutions to support critical capital investments.Randy Hicks, President and CEO; Todd Greenberg, Chief Risk Officer; and Ryan Elsass, Chief Revenue Officer will lead AEF. Hicks and Greenberg have worked together for over a decade at Nations
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January 27, 2025 @ 08:15 AM
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Bloomberg reported The Container Store won court approval to exit bankruptcy after filing Chapter 11 in late December 2024 and to enact a lender-backed plan to cut its debt and provide the retailer with fresh capital.According the the Bloomberg report, Judge Alfredo Perez in Texas said Friday he’d confirm the retail chain’s restructuring plan, which would take the business private by exchanging lender debt for the company’s equity. The restructuring cuts about $88 million in long-term debt and
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January 27, 2025 @ 08:10 AM
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BlackArch Partners announced that The Apollo Group has received a strategic investment from Oaktree Capital Management.BlackArch was retained by Apollo to serve as the shareholders’ exclusive financial advisor. The transaction builds upon BlackArch’s significant momentum in advising market-leading business services platforms. It also reinforces BlackArch’s reputation as a trusted advisor to family-owned businesses that deserve superior outcomes and tailored solutions for management and
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January 27, 2025 @ 08:00 AM
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BriteCap Financial announced the promotion of several key team members. These promotions come at a pivotal time of rapid growth for BriteCap, laying the groundwork for continued expansion and enhancing our commitment to delivering exceptional service to our strategic partners and small business owner-borrowers.“We are immensely proud of our progress and growth,” said Richard Henderson, CEO of BriteCap. “None of this would be possible without our dedicated team members. Our employees are the
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January 27, 2025 @ 07:55 AM
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Alvarez & Marsal’s Global Transaction Advisory Group (Global TAG) continues to strengthen its market readiness to service clients globally with the promotion of Managing Director, Stacy Kirshner to Co-Leader of TAG U.S., alongside Managing Director, Anthony Caporrino. Kirshner will partner with Caporrino, Global TAG’s longtime regional leader for the U.S., to steer the unit into its next era. Ms. Kirshner, who has been with Global TAG for over a decade, joined the practice’s U.S. Executive
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January 27, 2025 @ 07:36 AM
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Cascadia Capital appointed Connor Owens as Chief Financial Officer. In this role, Owens will oversee finance, strategic planning, human resources, technology, and operations, driving operational excellence and supporting Cascadia’s expansion. Based in Cascadia’s Austin office, his leadership will focus on enhancing the firm’s capabilities, streamlining processes, and delivering exceptional service to clients and partners. Owens brings a decade of financial and operational expertise to Cascadia.
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January 27, 2025 @ 07:32 AM
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First Financial Bank is expanding into Michigan with the introduction of Grand Rapids native and highly experienced banker Chris Turner as commercial market president, and the opening of a commercial banking office in Grand Rapids. Turner leads First Financial's Grand Rapids commercial banking team and is responsible for the bank's commercial and industrial client relationships in the area."Chris and his team bring excellent local market knowledge and connections that, added to the commercial
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January 27, 2025 @ 07:12 AM
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Gordon Brothers continues to expand and strengthen the firm’s executive group with the promotions of Kyle Shonak to Chief Transaction Officer, North America and Jim Lightburn to Global Head of Commercial & Industrial. “As we continue to build upon Gordon Brothers’ proud legacy and recent expansions, broadening and deepening our leadership is paramount. We are thrilled to usher in the next generation of leaders with these well-deserved promotions,” said Norma Kuntz, Chief Executive Officer at
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January 24, 2025 @ 08:15 AM
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