Woodbridge International, a middle-market M&A advisory firm, announced it hired David Gladden as head of the firm’s Dallas office. Gladden is a seasoned investment banker specializing in middle-market companies. He will mainly focus on Woodbridge’s clients in the Southwest.
FTI Consulting, in its capacity as liquidating trustee, has retained Hilco Streambank to run an auction sale of the intellectual property assets of Advanta, a bankrupt provider of business credit cards.
GE Capital is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith. The combined business operates under the name Golfsmith International. GE Capital Markets served as lead arranger and bookrunner on the transaction.
Contec Holdings said it has filed for bankruptcy after reaching an agreement with the majority of its senior lender group to significantly reduce its long-term debt. Barclays Bank, as agent, will provide $35 million in DIP financing.
Tiger Remarketing Services said it is auctioning more than $1 million worth of post-production equipment and studio furnishings from Solid LA, an animation studio that is downsizing its operations.
According to the Fed’s recently released Beige Book, economic activity continued to expand gradually in July and early August across most regions and sectors.
Matrix Capital Markets announced it facilitated the successful sale of the assets of Orlando, FL-based Florida Oil Holdings to Circle K Stores, a subsidiary of Alimentation Couche-Tard.
BB&T said it has named Russell Brant as a commercial finance specialist who will be responsible for directing the group’s indirect growth initiatives as well as for expanding the bank’s asset-based lending coverage and product offerings.
The Wall Street Journal reported that companies in Southern Europe have increased their search for alternative sources of funding – an indication that Europe’s debt crisis is “far from over.”
Babson Capital Management said it provided $12 million in mezzanine debt to support Drew Marine