The following members of the American Bankruptcy Institute (ABI) were elected to leadership positions as officers and directors: Christopher A. Ward of Polsinelli (Wilmington, Del.) has become ABI President for a one-year term, succeeding Soneet R. Kapila of KapilaMukamal, LLP (Fort Lauderdale, Fla.), who will now assume the positions of both Immediate Past President and Interim Chairman; due to the unfortunate passing of Hon. Kevin J. Carey (ret.) of Hogan Lovells US LLP (Philadelphia), who
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April 24, 2024 @ 08:05 AM
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Mountain Ridge Capital ("MRC") and Alpine Ridge Funding ("ARF"), independent asset-based lending and factoring companies backed by Arena Investors closed a $110 million senior credit facility from Wells Fargo Capital Finance. The facility will support MRC's and ARF's continued growth in serving the credit needs of middle market companies across North America."Wells Fargo is pleased to support MRC and ARF with additional financial flexibility to advance their growth strategy," said Stewart Hayes
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April 24, 2024 @ 08:02 AM
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Hercules Capital is celebrating its 20th year of originations activity by reaching the $20.0 billion milestone in total debt commitments.Founded in December 2003, and originating its first deal in 2004, the Company’s mission was simple: Provide entrepreneurs with an alternative source of growth capital that complements a growth stage company’s existing institutional financing. Today, Hercules Capital is the largest and leading specialty financing provider to innovative venture, growth and
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April 24, 2024 @ 08:00 AM
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The Board of Directors of Renasant Corporation implemented the next step of the Company’s management succession plan, designating Kevin D. Chapman to become Chief Executive Officer of the Company and Renasant Bank effective May 2025. Chapman will retain his current title and duties of President of both the Company and Bank. Over the next year, current Renasant CEO, C. Mitchell Waycaster will work with Chapman on the leadership transition; in May 2025, while stepping down from the CEO position
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April 24, 2024 @ 07:53 AM
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Peapack-Gladstone Financial Corporation and Peapack Private, a division of Peapack-Gladstone Bank, announced that Greg Tamberlane has been appointed as Senior Vice President, Head of Commercial Bank Operations New York, continuing to lead the expansion of Peapack Private’s New York City location. Tamberlane will oversee operations for New York, leading a team of financial services professionals to ensure the successful growth of the Company.Tamberlane brings 10 years of financial services
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April 24, 2024 @ 07:52 AM
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First Citizens Bank's Healthcare Finance business provided $58.4 million in financing to Anchor Health Properties for the construction of a 92-bed inpatient rehabilitation facility in Miami, Florida. The 96,000-rentable-square-foot facility with an attached parking garage will be leased to a joint venture between Baptist Health South Florida and Lifepoint Health. The facility will focus on acute rehabilitation of conditions resulting from stroke, brain and spinal cord, amputation, neurological
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April 24, 2024 @ 07:26 AM
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First Business Bank announced Paige Runyard’s promotion to Assistant Vice President – Senior Credit & Portfolio Manager within its Accounts Receivable Financing team, part of First Business Specialty Finance, LLC. In this position, Runyard manages a staff of Team Leaders and Account Managers serving First Business Bank’s factoring and ledgered line clients. Runyard previously led the group’s credit department, leading a team charged with client financial analysis, client underwriting, and
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April 24, 2024 @ 07:14 AM
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Alvarez & Marsal (A&M) expanded its CFO Services Group offering with appointment of Managing Directors Gregg Nicoll, Vikas Kumar, and Sean Kracklauer within its Corporate Performance Improvement (CPI) practice. Messrs. Nicoll’s, Kumar’s and Kracklauer’s financial planning and analysis (FP&A), operations/global business services (GBS) and financial strategy expertise enhances A&M’s ability to meet growing market demand for transformative financial solutions that deliver advanced end-to-end
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April 24, 2024 @ 07:10 AM
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While lenders experienced subdued demand for factoring in 2023, reflecting soft consumer retail spending and a cautious retailer approach to inventory management, the Secured Finance Network (SFNet) Year-End Factoring Survey found that overall factoring sentiment improved somewhat last year, up 6.0, to 64.8, where 50 indicates a neutral outlook. The report attributed improved sentiment to the U.S. economy’s strong position at year’s end and a persistently solid labor market, which continued into
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April 24, 2024 @ 07:00 AM
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Danimer Scientific, a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced that on April 19, 2024, it entered into an asset-based revolving credit and security agreement with Mountain Ridge Capital secured primarily by the Company’s accounts receivable and inventory.The credit and security agreement provides for borrowings under a revolving commitment of $20 million with availability determined by a borrowing base formula as
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April 23, 2024 @ 08:00 AM
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B. Riley Farber, a wholly owned subsidiary of B. Riley Financial announced the addition of Ryan Adlington as Senior Managing Director, based in Calgary, Alberta.Adlington is an experienced restructuring and turnaround expert with more than 20 years of experience in restructuring, financial advisory, and interim management roles, for both performing and underperforming companies. He will lead B. Riley Farber's restructuring practice in Alberta, with a focus on growing the firm's footprint and
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April 23, 2024 @ 07:54 AM
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eCapital announced Edward Irvin as the newest member of its business development team. Irvin's appointment strengthens the Company's presence in the Southwest and West Coast regions, enhancing its ability to serve clients. Assuming the role of SVP, Business Development Officer, Irvin will report directly to Tom Siska, SVP, Commercial Finance. With Irvin's addition, eCapital reaffirms its commitment to assembling a team of well-connected industry experts poised to drive the Company's growth. A
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April 23, 2024 @ 07:51 AM
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The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. If allowed, the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands. It would also give Tapestry a dominant share of the “accessible luxury” handbag market, a term coined by Tapestry to describe quality leather and
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April 23, 2024 @ 07:45 AM
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Deerpath Capital Management closed Deerpath CLO 2024-1, a $452.61 million collateralized loan obligation (CLO). This marks Deerpath's first new issuance CLO in 2024. Including a CLO reset and upsize in July 2023 and CLO 2023-2, this transaction represents the firm's tenth CLO over the past 6 years. Deerpath Capital is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America.Deerpath CLO 2024-1 brings the firm's total
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April 23, 2024 @ 07:40 AM
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Monroe Capital acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the growth of Bishop Lifting Products, Inc. (“Bishop Lifting”), an existing portfolio company of Altamont Capital Partners. Headquartered in Houston, TX, Bishop Lifting is a specialty industrial distributor of lifting and safety products/services. The company's product portfolio includes wire rope, slings, hooks, cordage and harnesses, many of which are further fabricated
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April 23, 2024 @ 07:30 AM
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