First Citizens Bank announced that Eugene Weissberger has been appointed as a managing director in the Sponsor Finance group, where he will be focused on supporting financial sponsors and family offices in the Midwest and on the West Coast.Weissberger will be responsible for developing and maintaining relationships with middle market sponsors and family offices while providing cash-flow and asset-based lending solutions to support their transactions. In addition, he will be positioned to help
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SSG Capital Advisors (“SSG”) served as the investment banker to George L. Miller, the Chapter 7 Trustee of Gelesis Holdings Inc. and certain affiliates, in the sale of substantially all assets to an affiliate of Theras Group S.r.l., T-Investments S.r.l., and Andromeda Energy S.r.l. The transaction closed in July 2024 pursuant to a Section 363 sale process in the U.S. Bankruptcy Court for the District of Delaware. Gelesis was a biotherapeutics company focused on developing a novel category of
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Runway Growth Capital announced a $20 million growth capital commitment to Elevate, a leading provider of consulting, technology, and services for law departments and law firms. The investment upsizes the previous $40 million senior secured term loan provided by Runway in 2023.“We are thrilled to continue our partnership with Elevate, a market leader in legal software and services,” said Brad Pritchard, Managing Director at Runway. “This additional funding underscores our commitment to
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Whiskey House of Kentucky, the most advanced contract distillery in the United States, announced the successful close of a 5-year, $115 million syndicated credit facility from Truist Bank, U.S. Bank, First Horizon Bank, Rabobank, and CoBank (Lenders). Whiskey House commenced operations on July 1, and the financing closed on July 19, consisting of a $90 million Senior Secured Term Loan and a $25 million Revolving Credit Facility. The financing also provides flexibility to raise up to $50 million
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Kian Capital Partners, a lower-middle-market-focused private investment firm, closes a single-asset continuation fund to reinvest in SPATCO Energy Solutions, expanding Kian’s assets under management to just over $1 billion. The transaction provides liquidity to existing investors seeking to monetize performance to date while providing Apogem and other new continuation fund investors the opportunity to invest.SPATCO is a leading fueling infrastructure services provider in the Southeast
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Deerpath Capital Management announced the reset and upsize of Deerpath CLO 2021-1, a $402.9 million collateralized loan obligation (CLO).The CLO was originally sized at $362.9 million and priced in March 2021. This upsize and repricing represents the eleventh CLO issued by Deerpath since 2018 and brings the firm's total CLO assets under management to approximately $3.3 billion.This is Deerpath's second CLO issuance in 2024, having closed Deerpath CLO 2024-1 at $452.6 million in April. Like all
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Uncaged Capital recently helped a Florida registered nurse, already the owner and operator of another Adult Care Home less than six miles away, sought to expand her business operations. With her extensive experience in the field and the robust cash flow of the business, both individually and globally, Uncaged Capital approved a $4.3 million loan with a 5-year amortization.She wanted to close quickly on the acquisition of the business but couldn't wait for the usual SBA loan processing time.
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TAB Bank successfully closed $103 million in credit facilities with nearly 400 companies during the second quarter of 2024. Financing included loans for working capital, equipment and commercial real estate, small business lines of credit and accounts receivable funding. The companies funded span numerous sectors, including manufacturing, commercial real estate, construction, transportation and dental supplies. TAB Bank remains a trusted financial ally for businesses of all sizes, providing
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Rosenthal & Rosenthal completed a joint recourse factoring and purchase order financing deal. A global ski equipment and accessories brand with a presence in the U.S., Canada and Europe, and an existing Rosenthal recourse factoring client, was in need of additional liquidity to support seasonal growth. Based on the production forecast for the upcoming 2024-2025 season, the company needed to access additional liquidity to pay their factories as their supplier relationship required prepayments and
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SG Credit Partners, through its Consumer Products division, welcomed Pacha Soap Co. to its growing portfolio. A purpose-driven company, Pacha’s line of artisanal bath and home fragrance products is known for environmentally conscious practices creating a suite of offerings ranging from bar soap to whipped body scrubs. The senior debt investment will support Pacha’s continued growth. "Our mission at Pacha starts with world-changing ingredients to create unforgettable product experience and
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Bastion Management agented a senior debt investment of $20 million with accordions up to $60 million in Vernance LLC to fund future growth of their consumer lease-to-own ("LTO") portfolio.Vernance provides financing solutions for a wide range of consumer discretionary products. They work closely with their extensive network of approximately 4,000 third-party retailers, enabling customers to access financing options through both in-store and online transactions."Teaming up with Bastion marks a
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AlixPartners announced that Neal Ganguli has rejoined the firm as a Partner and Managing Director in the Automotive and Industrial Practice. Ganguli brings more than 25 years of experience helping automotive and private equity clients across the value chain. His particular areas of focus include automotive strategy and operations in general, as well as the U.S. electric vehicle (EV) and battery supply chains. His experience includes executing strategic and operational transformation programs at
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The Hedaya Capital Group provided a $5,000,000 facility with a $1,000,000 sub limit for inventory advances to a New York-based product development company offering services for a product’s entire creation cycle, from design through production. With 50 years of experience and five business units – housewares, pet products, intimate accessories, socks & hosiery, and baby necessities – the Company works with major retailers around the country to find solutions and help them grow their businesses.
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Rainstar Capital Group hired Chris Griffith to its middle market team as Managing Director to head up the Florida market. Rainstar Capital Group’s CEO - Kurt Nederveld made the following statement, "We are excited to have Chris expand the Rainstar brand into the Florida market. The West Palm Beach to Miami corridor is white hot for the capital markets and we look forward to having a presence there.”Tom Kessel, the team leader for middle market lending at Rainstar made following statement, “We
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Alvarez & Marsal Tax, an affiliate of leading global professional services firm Alvarez & Marsal (A&M), announced the launch of its new License Advisory Services (LAS) offering. Spearheaded by LAS National Practice Leader and Managing Director Ashley Scheele, and supported by Senior Directors, Mandy Coffey, Grace Wee, and Vina Chandrashaker, A&M’s License Advisory Services helps clients navigate the intricacies of business and operational licenses at any point in the business lifecycle. Clients
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