|
ABL Advisor News
Flagstar Bank announced a significant expansion of its Specialized Industries Group, a major milestone in its long-term growth and transformation strategy. This group comprises 12 distinct industry verticals, each focused on serving the debt finance and banking needs of a specific sector.The Specialized Industries Group, led by Adam Feit, EVP and Head of Specialized Industries & Capital Markets, plays a key role in Flagstar's growth strategy and is a core part of the Commercial & Private Banking
Read Story
|
WSFS Bank, the primary subsidiary of WSFS Financial Corporation named Frank McGrane as Executive Vice President, Chief Credit Officer (CCO). He will report to Christine Davis, Executive Vice President, Chief Risk Officer.“Frank’s decades of experience with credit risk and lending make him a natural fit to oversee WSFS’ credit exposures,” said Davis. “He will play a critical role as WSFS continues to grow and build upon its strong foundation.”McGrane’s responsibilities as CCO include oversight
Read Story
|
B. Riley Financial entered into an amendment to its senior secured credit agreement with funds managed by Oaktree Capital Management, L.P.The amended Term Loan Facility provides incremental flexibility, including: a new investment basket that enables an incremental $100 million to facilitate transactions using B. Riley Financial's balance sheet; a $30 million investment basket for parent company investments upsized from $20 million; and the ability to deploy up to $25 million of cash to reduce
Read Story
|
Trinity Capital announced the commitment of $35 million in growth capital to INSHUR, a leader in innovative insurance solutions for the on-demand economy.Operating globally, INSHUR provides commercial insurance for on-demand mobility drivers, fleet operators, and delivery platforms across the mobility and delivery sectors. The company recently surpassed 1 million policies sold in the U.K., one of its core markets. Its platform offers a personalized suite of tech-enabled insurance products
Read Story
|
KULR Technology Group, a Bitcoin First Company and global leader in sustainable energy management, has secured a $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc.The agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility. The Company intends to use the net proceeds to fund its strategic Bitcoin accumulation goals."This marks KULR’s first bitcoin-backed
Read Story
|
Genesis HealthCare, Inc., along with its subsidiaries, has taken steps to implement a financial restructuring to secure the long-term delivery of its mission. This process is designed to ensure that the Company can continue operating in a seamless manner, while also allowing the Company to address its legacy liabilities associated with previously divested operations.To facilitate the Company's restructuring efficiently and with minimal disruption to ongoing operations, the Company has filed
Read Story
|
Alvarez & Marsal (A&M) announced the appointment of Zack Shah as a Private Equity Performance Improvement (PEPI) group Managing Director co-leading its Education and Edtech Advisory practice alongside Managing Director Vadim Tsysin. Mr. Shah’s hire extends the depth and breadth of PEPI’s education and edtech capability in response to private equity (PE) and strategic investor demand for capitalizing on accelerating deal activity in this dynamic market. Nick Alvarez, Managing Director and
Read Story
|
Morrison Foerster announced the arrival of Bryan Kotliar as a partner in the Business Restructuring + Insolvency Group, in the New York office. Kotliar brings over a decade of valuable experience representing corporate borrowers, creditors, and other parties in interest in the distressed arena, in addition to substantial experience conducting discovery and witness examinations in chapter 11 cases.Kotliar joins Morrison Foerster from a New York-based boutique bankruptcy firm, where he was a
Read Story
|
The client is a general contractor in the DFW area that specializes in renovation and maintenance projects. With 18 years of experience, the owner has developed a renowned reputation in the region and is a trusted partner at many properties. For the past two years, the contractor has had a positive net income of over $300,000. However, as is typical in this field, there are payment delays between completed projects which causes a lack of working capital.Originally, the company pursued a line of
Read Story
|
Bank of America has named Julie Schmelzle, senior relationship manager, Global Commercial Banking, president of Bank of America Southwest Florida. She succeeds Gerri Moll, who successfully led the market since 1997 and is retiring at the end of July after 41 years with Bank of America.As president and head of the market, Schmelzle will connect clients, teammates and communities to the full power of the franchise and drive integration across the bank’s eight lines of business. She will oversee
Read Story
|
Mitch Rubin, a banking professional with 18 years of experience in asset-based lending, has joined Tiger Group as a business development Managing Director. The Westchester, New York-based executive will leverage his extensive private equity and banking industry contacts to source opportunities in the metro New York and Boston markets. His business-development efforts will add to those of longtime Tiger Valuation Services Managing Director Fred Raccosta. Rubin brings nearly two decades of
Read Story
|
Gordon Brothers agented a C$200 million financing package for Morgan Construction, consisting of a five-year, C$150 million revolving credit facility and a C$50 million accordion. The funding will support Morgan’s working capital needs, new equipment purchases and fleet optimization. The official announcement can be viewed here. Kyle Shonak, Chief Transaction Officer at Gordon Brothers, can speak to the deal and its five-year partnership with Morgan, alongside its affiliate, Nations Capital, to
Read Story
|
National Business Capital (“NBC”) continues to scale across key markets, announcing the hire of Lorraine Julius as Director of Institutional Partnerships. With decades of experience in financial services from Bank of America, Mission Valley Bank, US Bank, and eCapital, Lorraine will focus on cultivating strategic relationships across California and the broader western U.S., helping business advisors, accountants, and lenders deliver flexible, non-asset-backed capital solutions, including credit
Read Story
|
eCapital delivered a $10 million asset-based lending (ABL) facility to support the national expansion of a fast-growing Midwest-based beverage manufacturer specializing in light-bodied malt beverages. Referred by a private equity partner, the revolving line of credit offers access to working capital beyond the scope of traditional bank financing, positioning the company to scale production and meet rising consumer demand.Originally developed under a regional brewing program, the company has
Read Story
|
Phil, a leading software-driven pharmaceutical commercialization platform, announced a $60 million growth debt financing from K2 HealthVentures (K2HV), a healthcare and life sciences-focused investment firm. The funding will accelerate the integration of artificial intelligence across Phil's platform and support continued customer expansion across a broad range of therapeutic areas.Since its Series D financing led by Warburg Pincus in 2021, Phil has scaled prescription volumes more than 10x, and
Read Story
|
|
|