Raymond James is expanding the capabilities of its Investment Banking division by partnering with Eldridge Industries and Raymond James Bank to provide private credit solutions to sponsor-backed portfolio companies in four primary sectors: Consumer, Diversified Industrials, Healthcare and Technology & Services. Raymond James has hired credit industry veteran Omer Masud as head of sponsor finance origination to launch the firm’s Private Credit effort.A new Raymond James Bank-Eldridge Industries
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Wintrust Business Credit (WBC) closed a new $15,000,000 ABL line of credit for a Southeast-headquartered aerospace distribution business with subsidiaries from the Southwest to the Northeast. The Company supplies fasteners and other products to tier-1 suppliers and aerospace OEMs domestically and abroad. Management made their first investment into the new platform in late 2021 with a strategic plan to acquire similarly positioned companies and become a formidable player in their industry. Two
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The Commercial Finance Division of Pathward announced the funding of three credit facilities totaling $15MM in various industries.
An $8 million asset-based revolving line of credit facility to a PVC and thermoplastics manufacturer in Indiana. The financing provides the company with funding to pay off its current line of credit and to provide ongoing working capital.
A $4 million ledgered line of credit facility to Georgia-based company that sells and promotes arts and crafts. The
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MidCap Financial and Great Rock Capital provided a $140 million senior secured revolving credit facility to a global manufacturer, distributor, and marketer of houseware products. The facility was used to refinance existing indebtedness and will provide ongoing working capital to support the company’s future growth objectives.
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Siena Lending Group announced the closing of a $35 million credit facility with Charah Solutions, Inc., a leading provider of mission-critical environmental services and by-product recycling to the power generation industry. The new two-year credit facility was utilized to refinance existing debt as well as to provide additional working capital to support the Company's growth. Commenting on the Company’s new and expanded debt facility, Matthew Sutton, Charah’s Chief Executive Officer and
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Citizens led a $105 million credit facility, which included a $75 million term loan and a $30 million revolving line of credit, for Style Crest Enterprises to help the company refinance existing debt and fund acquisitions. Citizens was Lead Left bookrunner and administrative agent.Founded in 1970, Ohio-based Style Crest is a family-owned and -operated wholesale distributor and installer of building products, including heating, ventilation and air conditioning (HVAC), doors, windows, accessories
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Mitsubishi HC Capital America announced that Steve Weislogel has been promoted to Senior Vice President, Head of Technology Finance. The Technology Finance division offers a unique end-user funding solution that encompasses both channel and accounts receivable financing, providing clients with customized solutions that free up cash flow and facilitate strategic investments in their operations. Weislogel’s new position follows his success as the long-time Managing Director for the division. “The
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Monroe Capital acted as administrative agent and joint lead arranger on the funding of a senior credit facility in support of refinancing of The Black Tux, Inc., an existing portfolio company of TZP Group and Stripes Group.Founded in 2013, The Black Tux is a vertically integrated omni-channel provider of men’s formalwear. The company designs and manufactures contemporary suits and tuxedos for rent or for sale. In addition to the ecommerce platform, The Black Tux has over 30 showrooms across the
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Kolibri Global Energy announce that the Borrowing Base of its indirect wholly owned subsidiary BNK Petroleum (US) Inc. was increased from $40 million to $50 million on its revolving line of credit from BOK Financial (“BOKF”), an increase of 25%. The current outstanding amount drawn on the Credit Facility is US$32 million.Wolf Regener, President and CEO, commented, “We are very pleased to have BOKF’s continued support as we continue the development of our Tishomingo project. The 25% increase in
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Nabil Istafanous announced the launch of Foothills Capital Advisory, a practice dedicated to helping businesses secure the necessary working and growth capital to succeed in today's challenging credit environment.During times of higher interest rates and tight bank credit, more businesses need to venture beyond traditional banks for lending. With the proliferation of alternative lenders, complex financial structures and aggressive marketing practices from questionable “cash advance” lenders
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SSG Capital Advisors served as the investment banker to Eiger BioPharmaceuticals, Inc. in the sale of substantially all of its assets related to the FDA-approved drug Zokinvy®, to Sentynl Therapeutics, Inc. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of Texas (Dallas Division). The transaction closed in May 2024.Founded in 2008, Eiger is a commercial-stage biopharmaceutical company focused on the development of
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Huntington Business Credit closed $38,000,000 in new credit facilities with Royal Chemical Company, Ltd. on April 30, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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eCapital funded an $18 million asset-based lending facility for a leading commercial linen services company. This transaction not only demonstrates eCapital's commitment to supporting mid-market businesses but also highlights the value of its industry expertise in providing timely financial support to a business at a crucial turning point.A commercial linen provider servicing the food & beverage, hotel, agriculture, industrial, and healthcare sectors found itself at a crossroads. After
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Eclipse Business Capital provided a $105.8 million senior secured credit facility, consisting of an asset-based revolving line of credit and term loan to a sporting goods manufacturer. The credit facility is secured by accounts receivable, inventory, and intellectual property rights on the Company’s brand. The transaction will refinance the Company’s existing credit facilities and provide additional liquidity for working capital purposes.EBC’s demonstrated track record of executing quickly
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First Citizens Bank's CIT Commercial Services subsidiary named Don Norman as a vice president and senior portfolio and relationship manager in its Western Region. In his new role, Norman will be responsible for managing a portfolio of clients while consistently supporting the overall growth of Commercial Services in the Western region. Based in Los Angeles, he will report to Michael Raynor, portfolio team leader, under the direction of Western Regional Manager Darrin Beer. “We are excited to
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