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Mitsubishi UFJ Financial Group (MUFG) announced it has hired Timothy Fischer as Managing Director, Head of U.S. Leveraged Finance Sales. Based in New York, Mr. Fischer will begin on Jan. 21 and report to John Karabelas, MUFG's Head of Institutional Investor Sales in the Americas.In this newly created role, Mr. Fischer will be responsible for leading distribution of leveraged loans and high-yield bonds in partnership with the bank's Capital Markets team."With more than 25 years of both sales and Read Story

January 17, 2020 @ 09:15 AM

CIT Group Inc. announced it has hired Calvin Navatto as a Business Development Officer in its Commercial Services business.Navatto will be based in New York City and focus on business development across a wide range of business verticals supported by Commercial Services, including apparel, footwear, housewares, consumer electronics, health and beauty aids, and more.“Calvin is an experienced financial professional with the skills and experience to help grow our factoring and asset-based lending Read Story

January 17, 2020 @ 09:10 AM

Anne Garr has joined Hilco Global in the newly created position of General Counsel for Hilco Redevelopment Partners (HRP), the company announced.  In this role, she will be responsible for managing the day-to-day legal needs and robust deal flow within the growing HRP organization as well as certain legal assignments on behalf of the holding company. She will report to Eric Kaup, Executive Vice President – General Counsel of Hilco Global.Eric Kaup – Executive Vice President and General Counsel Read Story

January 17, 2020 @ 09:05 AM

Ares Commercial Finance announced that it has provided a $17.3 million senior secured credit facility to Cox Interior, Inc. comprised of a revolving line of credit and a term loan secured by real estate, machinery and equipment.  Proceeds from the financing were used to refinance the company’s debt and to provide for ongoing working capital needs.Cox Interior, Inc., headquartered in Campbellsville, Kentucky, is a manufacturer and distributor of milled building products using hardwoods such as Read Story

Field Under: Manufacturing
January 17, 2020 @ 09:00 AM

SSG Capital Advisors, LLC and Saxenhammer & Co. Corporate Finance, GmbH acted as investment bankers to Alexander Technologies Europe Ltd. ("ATEL" or the "Company"), a portfolio company of Woodside Capital Partners, in the sale of its equity shares to Shard Credit Partners, Ltd. and Management.Headquartered in Peterlee, County Durham, United Kingdom, ATEL is an international designer and manufacturer of engineered, customizable battery packs and chargers for the portable power products in Read Story

Field Under: Manufacturing
January 17, 2020 @ 08:00 AM

Gerber Finance announced the completion of their CEO succession strategy, naming longtime President Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to his new role as strategic advisor and Chairman of the Board. Joseph founded Gerber Finance in 1995, emigrating from South Africa to the United States to build a finance company that would shift the paradigm from lender to partner by diving into each client’s business, developing trust, and working alongside their management to Read Story

January 16, 2020 @ 10:00 AM

Middle market private companies in the Golub Capital Altman Index experienced approximate year-over-year earnings growth of 10% and revenue growth of 8.3% during the first two months of the fourth quarter of 2019. This compares to approximate year-over-year earnings growth of 13.2% and revenue growth of 9.6% in the third quarter of 2019.Lawrence E. Golub, CEO of Golub Capital, said, "The consensus view at the end of 2018 was that the U.S. economy was at material risk of a recession in 2019. Our Read Story

Field Under: Industry News
January 16, 2020 @ 09:10 AM

FWBank, which will do business as the First Women's Bank (the Bank), has appointed Tod Gordon as its Chief Financial Officer and Maria Tabrizi as its Chief Risk Officer. In addition, the Bank received its permit to organize from the Illinois Department of Financial and Professional Regulation, an important milestone in the regulatory approval process that permits the Bank to begin its capital raise.  FWB Financial, Inc., the Bank's holding company, raised $3.5 million during its seed capital Read Story

January 16, 2020 @ 09:00 AM

Stonegate Capital announced it has closed a $9,500,000 senior credit facility with Bay Area Traffic Solutions, Inc. (“BATS”).  Metropolitan Capital Bank & Trust served as the debt advisor on the transaction and served an integral role in getting the transaction across the finish line.Headquartered in Fremont, CA, BATS is one of the largest traffic control companies in California. It provides traffic safety services including traffic control plans, flagging, road/lane closures, freeway work Read Story

Field Under: Transportation
January 16, 2020 @ 09:00 AM

Comvest Partners (“Comvest”) is pleased to announce its investment in Encompass Supply Chain Solutions, Inc. (“Encompass” or the “Company”). With distribution facilities located in Lawrenceville, GA, Davie, FL and Las Vegas, NV, Encompass is recognized as a leading supplier of genuine repair parts, primarily serving the home appliance, consumer electronics, computing, personal care and HVAC end markets.The Company serves both business and consumer customers across the U.S. with access to Read Story

Field Under: Supply Chain Finance
January 16, 2020 @ 08:45 AM

Venture capital (VC) investment in the U.S. continued strong during Q4 2019, totaling $34.2 billion across 2,215 deals, according to the latest edition of Venture Pulse – a quarterly report on global VC trends published by KPMG Enterprise. For the year, VC investment reached $136.5 billion, second only to 2018’s $140 billion raised. Despite the slight dip, 2019 saw the emergence of 73 “unicorns” – companies with valuations exceeding $1 billion -- in the United States.Five of the Top 10 global Read Story

Field Under: Venture Capital
January 16, 2020 @ 08:30 AM

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced Kathleen Auda has joined the firm as Chief Risk Officer. Auda will be responsible for overseeing both the underwriting and portfolio management teams and will report to Stuart Armstrong, CEO and CIO."We are very excited to have someone of Kathy's caliber join the Great Rock Team," said Stuart Armstrong, CEO of Great Rock Capital. "Her leadership and expertise will strengthen and Read Story

January 15, 2020 @ 09:10 AM

Breakout Capital, a leading nationwide small business lender focused on transparent, business-friendly loans and product innovation, announced today the promotion of McLean Wilson from Chief Credit Officer to Chief Executive Officer and President. The industry veteran steps into the role with deep experience in asset-based lending, factoring, asset management, and capital raising for alternative investments."I'm thrilled to be Breakout's new CEO & President," stated Wilson. "We are at a Read Story

January 15, 2020 @ 09:05 AM

NXT Capital announced that it closed a $47 million loan to finance Shoreline Equity Partners’ recapitalization of Mr. Greens. NXT Capital acted as the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.Headquartered in Miami, Florida, Mr. Greens is a produce, dairy and dry goods distributor serving a large variety of clients, including restaurants, hotels, country clubs, caterers, grocery stores and retail outlets. Mr. Greens delivers 365 days a year, 7 days a week Read Story

Field Under: Food Services
January 15, 2020 @ 09:00 AM

SG Credit Partners provided a $1.5 million second lien loan to a family-owned Industrial recycling company that sells processed and unprocessed materials to domestic and international mills, foundries, and other material processors.  Management was exploring a sale of the Company and needed additional working capital beyond the availability on their asset-based credit facility. SG was approached by the Company's bank ABL to provide a second lien working capital loan to enable the Company to run Read Story

Field Under: Recycling
January 15, 2020 @ 08:55 AM