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Salus Capital Announces Management Changes

April 29, 2015, 07:24 AM

Salus Capital Partners announced that Christopher D. O'Connor and Kyle C. Shonak have been named Co-Presidents of the firm, effective immediately.

In a joint statement, O'Connor and Shonak commented: "Salus will work closely with our parent company, HRG Group, to provide the highest level of service to our valued borrowers and capitalize on our strong foundation in midsize lending."

O'Connor joined Salus in September 2014 and is responsible for the oversight of underwriting and portfolio management. He has over 24 years of experience in the financial services industry, holding numerous senior level, executive management roles across the commercial lending landscape. He joined Salus from Rockland Trust Company where he was Senior Vice President and co-founder of Rockland's Asset Based Lending Group. O'Connor previously held senior roles with Webster Business Credit Corp and Wells Fargo Capital Finance.

Shonak has led Salus' Special Assets and Risk Management teams since January 2012. In this role, he focuses on mitigating risks associated with deals subject to restructuring, bankruptcy and other special situations while responding to the needs of borrowers. Prior to joining Salus, Shonak was a Vice President, Special Assets at Textron Financial. Prior to Textron, Shonak held positions in underwriting at TD Bank and UPS Capital.

Salus Capital is a direct originator of secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure. Target transaction sizes range from $5 to $50 million, with the ability to syndicate larger transactions.

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