Trinity Capital announced the expansion of its business with the addition of a new Sponsor Finance vertical. This strategic expansion naturally extends the Company's established expertise in providing direct lending solutions to sponsor-backed companies across a range of industries."We see the ability to leverage our market knowledge and extensive networks to offer customized financing solutions to both our evolving client base and new entrants in the market, underscoring our dedication to
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Legacy Corporate Lending provided a $30 million asset-based credit facility to The Barton Group, a family-owned company that has produced the world’s highest-quality garnet abrasives for seven generations. The financing, finalized in April 2024, underscores Legacy's commitment to delivering tailored financial solutions to middle market companies across diverse industries.Founded in 1878, Barton is world-renowned for high performance garnet abrasives. Led by CEO Randy Rapple, the Company has
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The PNC Financial Services Group and the TCW Group("TCW"), a leading global asset manager, are partnering to deliver private credit solutions to middle market companies.The PNC and TCW partnership formalizes and expands more than 15 years of collaboration between PNC and TCW, combining both institutions' credit expertise: TCW's 23-year track record of successfully originating, underwriting and managing direct lending portfolios; and the strengths of PNC's national client relationships and its
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BizCap announced its successful collaboration with Quady Winery, a family-owned operation in Central Valley, CA, renowned for affordable Muscat grape-based fortified and sweet wines that are sold throughout the U.S. Among 4,700 wineries in California, Quady is the only one specializing in sweet and aperitif wines and has garnered international renown, boasting over 1,000 awards and medals. BizCap helped the company secure a $11 million term loan and a $6 million line of credit to recapitalize
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Colbeck Capital Management announced that Jared Talisman has joined the firm as a Managing Director and Head of Originations. Talisman most recently served as a Managing Director at Principal Alternative Credit, where he led and managed the sourcing, structuring, and due diligence of non-sponsored private credit investments."We are pleased to welcome Jared to Colbeck as we bolster our origination team with top talent and expand our investment pipeline," said Messrs. Beckman and Colodne. "Jared's
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FGI Worldwide and Validis, an open accounting API, have partnered to integrate their respective credit management and data extraction platforms. This strategic partnership will allow businesses sharing their Accounts Receivables (A/R) data with lenders via Validis, to manage their credit insurance and risk mitigation in real-time on FGI’s T.R.U.S.T.™ platform, without any need for manual processing or interruption, creating efficiencies and saving resources. Credit Insurance management relies on
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Peapack-Gladstone Financial Corporation and Peapack Private, a division of Peapack-Gladstone Bank, announced that Jerry Dominguez has joined Peapack Private’s New York City location as Senior Managing Director. Dominguez is responsible for providing customized commercial banking solutions to a diverse set of businesses to help them achieve their financial goals.Dominguez is a financial services professional with extensive experience in client relationship management and business development.
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the merger and future growth of ParkHub and JustPark by LLR Partners and FTV Capital.Based in Dallas, TX, ParkHub is a leading provider of parking management software and payments solutions, including facilitating payments and delivering real-time business insights for parking operators and venue management companies across North America, serving some of the largest sports
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LSQ originated twin $1 million accounts receivable finance facilities ($2 million total) for sister software firms offering access management SAAS solutions for numerous industry verticals.The companies were referred to LSQ by a bank partner. The additional working capital will be used to support new growth and an expanded client base. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management."The companies are poised for
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U.S. Bancorp, parent company of U.S. Bank, announced that Gunjan Kedia will be its new President, reporting to Andy Cecere, who will retain the title of Chairman and CEO.In this role, Kedia, 53, will oversee the company’s three business lines, ensuring a shared focus on growth and holistic client experiences across its entire network.“During her more than seven years with U.S. Bank, Gunjan has shown herself to be a visionary leader who understands our business and is driven to help us perform at
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Reuters reported apparel retailer rue21 filed for Chapter 11 bankruptcy protection for a third time and is seeking to shut down its 540 stores and sell its intellectual property. Read the full Reuters news story here.
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Bowman Consulting Group entered into a $100 million aggregate revolving credit agreement with Bank of America as Administrative Agent, and TD Bank as Syndication Agent. With a five-year term, the Credit Agreement replaces the Company’s $70 million revolving line of credit with Bank of America. The general provisions of the Credit Agreement are similar to the predecessor credit facility.“This expanded credit facility reflects our long-term partnership with Bank of America and adds a new
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Comerica announced Floyd Kessler has been named to the new role of Executive Vice President, Chief Business Risk and Controls Officer. Kessler will report to Peter Sefzik, Chief Banking Officer.Kessler will lead the Business Risk and Controls Office for Commercial Bank, Marketing, Customer Experience, the Retail Bank and Wealth Management, helping drive transformation of risk and control functions across all of Comerica's revenue divisions."Fostering a strong risk and control culture remains a
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Grant Thornton announced a new leader for the Chicago market. Arla Lach, an Audit and Assurance partner who has been with Grant Thornton nearly 25 years, will succeed Mark Sullivan. Sullivan is retiring after a successful, decades-long career, including more than 14 years with the firm. Lach and Sullivan are working closely to ensure a seamless transition, and Lach’s term as market managing partner will officially begin on June 1. Between Grant Thornton’s Chicago and Downers Grove offices, she
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A majority of small and mid-sized business owners expect their revenues to increase this year, and their worries over a recession have declined substantially, according to the 2024 Bank of America Business Owner Report, conducted in partnership with Bank of America Institute. While business owners remain mindful of the impacts of inflation and interest rates on their bottom lines, both concerns have lessened since Spring 2023. And despite some lingering uncertainties over the broader economy
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