As part of its continued expansion of its lending business, Gordon Brothers has hired Mark Bohntinsky as Global Head of Credit. Bohntinsky oversees Gordon Brothers’ credit quality, setting portfolio strategy and partnering with key lending stakeholders globally, including Kyle Shonak, Head of North America Lending, to expand the firm’s capital base and pursue a wider array of lending opportunities. Additionally, he is a member of the investment committee. Bohntinsky joins Gordon Brothers’
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Small business filings, captured as subchapter V elections within chapter 11, increased 60 percent to 233 in April 2024 from 146 in April 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Commercial chapter 11 filings increased 40 percent in April 2024 to 542 from the 387 filings in April 2023. Overall commercial filings increased 39 percent in April 2024 to 2,569 from 1,846 in April 2023.The 45,592 total U.S. bankruptcy filings in April 2024
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Christopher J Murphy III, Chairman and CEO of 1st Source Corporation and Chairman of 1st Source Bank announced that as part of 1st Source’s long-term succession planning, the Board of 1st Source promoted Andrea G. Short to President of 1st Source Corporation. Prior to this promotion, she served as Executive Vice President of the Corporation and will continue to serve as President and CEO of 1st Source Bank. She will also remain a member of the Board of Directors of both 1st Source Corporation
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SVB Financial Group entered into a definitive agreement under which a newly created entity affiliated with Pinegrove Capital Partners ("Pinegrove") and backed by permanent capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage, will acquire the Company's investment platform business, SVB Capital. Under the terms of the agreement, SVB Capital would be acquired for a combination of cash and other economic consideration.Pinegrove is a capital solutions partner for the venture
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EisnerAmper announced that the partners and colleagues of Boston, Massachusetts-based CPA firm Edelstein & Company, LLP, are joining EisnerAmper in a combination expected to close in June 2024.Founded in 1968, Edelstein has 11 partners and a staff of more than 150 professionals. Named a top accounting firm in Massachusetts by the Boston Business Journal, Edelstein offers accounting, tax and advisory services for the food and beverage, healthcare, financial services, nonprofit, real estate
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Sunflower Bank hired four experienced commercial banking teams in Southern California. Southern California’s commercial banking market will be the largest market for Sunflower Bank and provides an opportunity to continue the expansion of its relationship banking model for middle market clients.James Canepa joined Sunflower Bank in April 2024 to lead the new teams as Executive Vice President & Regional President. In this role, Canepa is responsible for the strategy, management and growth of
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eCapital Corp. closed a $5 million non-notification ledger line factoring facility for a private equity-backed medical supply company.The client, a Canadian-based medical supply company selling products to the biomedical and pharmaceutical industries in Canada, Europe, and the U.S., recently obtained FDA approval for its main product, complementing existing approvals from Health Canada and the European Union. With this significant milestone, the company, projecting a surge in U.S. sales
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Ann Huynh has joined Getzler Henrich & Associates as a Managing Director and Co-Head of the firm’s Houston office. Huynh has over two decades of expertise in corporate restructuring, energy investment banking, and strategic financial advisory. With a focus on corporate restructuring, mergers & acquisitions, energy/infrastructure finance, performance improvements, and interim management, she has successfully led numerous clients through both in-and out-of-court restructuring and M&A
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Blank Rome announced that the firm has expanded its national platform with the opening of a new office in Boston, anchored by 13 partners with leading corporate, finance, mergers and acquisitions (“M&A”), tax, litigation, and cannabis practices. Joining the partners are 12 associates and several business professionals. The premier team of nationally recognized attorneys, led by partners Frank A. Segall and Josef B. Volman, join from Burns & Levinson LLP where for more than 25 years they served
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Ares Management Corporation announced that funds managed by its Credit Group closed approximately $9.3 billion in U.S. direct lending commitments across 71 transactions during the first quarter of 2024 and approximately $29.6 billion in direct lending commitments across 253 transactions in the 12 months ended March 31, 2024. Below is a description of selected transactions that Ares closed during the first quarter of 2024.Aptean / TA Associates, Insight Partners and CharlesbankAres served as a
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The majority of today's business leaders expect to see revenue growth this year, with 32% believing revenues will grow by more than 10%, according to the 2024 Working Capital Survey from C2FO, the world's on-demand working capital platform.While most respondents said they currently have the liquidity they need, nearly 1 in 4 businesses don't have access to enough capital to operate for a year. Nearly 60% said that increasingly longer payment terms with customers require them to find alternative
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May 02, 2024 @ 08:00 AM
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SLR Credit Solutions (“SLR CS”) closed a $50 million senior credit facility comprised of a revolver and term loan for Fluent, Inc., a leader in performance marketing, delivering customer acquisition and partner monetization solutions through its digital media portfolio, global commerce partnerships, and proprietary data and tech.Proceeds from the transaction were used to refinance existing debt and to provide enhanced liquidity for general operations and growth.“We are enthusiastic about the
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Republic Business Credit announced the addition of Brian Resutek as Senior Vice President, Southeast Regional Manager. Resutek brings nearly two decades of experience in factoring, commercial finance, banking and business development. He joins a team at Republic that has grown by more than 20% in the first half of 2024 alone, adding seven key new hires in the past 90 days. Resutek brings deep industry knowledge in addition to his dynamic finance background, particularly supporting growing
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Solifi announced that Kasey Hobson has been recognized for her achievements in the secured finance industry in the SFNet 40 Under 40 Awards.“Featuring on the list of winners for the SFNet 40 Under 40 award is a great honor,” says Hobson. “I am passionate about sharing my knowledge and being a mentor to others in the industry. My enthusiasm for product mixed with the opportunity to support new industry professionals is what I love most about my role, and I am greatly appreciative to be recognized
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King Trade Capital (“KTC”) announced a $4.5MM purchase order line increase for an existing client in the aircraft parts business. The aircraft parts company initially received a PO finance solution from King Trade Capital to help execute upon the purchase and refurbishment of parts to fulfill $18 Million of purchase orders from major US airline and the US government. The offering provided by KTC includes cash payments to the Client’s suppliers to purchase aircraft parts that are then sent to be
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