Deal Charts

ABL Deal Chart 2006 Q3

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/06 through 9/30/06.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
Atrium Company
Manufacturer/Windows & Patio Doors
Merrill Lynch Capital
Lead
475.0 Revolver
Supports acquisition of Champion Window. Atrium is a Kenner & Co. portfolio company
American Medical Systems Holdings
Provider/Pelvic Health Solutions
CIT Healthcare
Lead
430.0 Revolver
Supports acquisition of Laser Scope; part of $615MM total financing
Primedex Health Systems, Inc.
Provider/Imaging Services
GE Healthcare Financial Services
Lead
405.0 $45MM Revolver/$360MM Term Loan
Used to support acquisition of Radiologix
Kendle International, Inc.
Provider/Clinical Research Services
UBS Securities
Sole Lead Arranger
225.0 $25MM Revolver/$200MM Term Loan
Five-year term/six-year term; funds various acquisitions
FTD Group, Inc.
Provider/Floral Services
Wells Fargo
Lead
225.0 $75MM Revolver/$150MM Term Loan
Used to support acquisition of Interflora Holdings Limited
Van Wagner Communications
Provider/Outdoor Advertising
GE Global Media & Communications
Lead
200.0 Revolver
GE Capital was Sole Lead Arranger
Pliant Corporation
Manufacturer/Specialty Films & Packaging
Merrill Lynch Commercial Finance
Lead
200.0 Revolver
Exit financing
Asta Funding, Inc.
Provider/Liquidation Services
IDB Bank/Merrill Lynch Capital
Co-Leads
175.0 Revolver
Three-year term
New Wave Communications
Provider/Cable & Internet Services
GE Global Media & Communications
Admin. Agent
162.0 Senior Secured/Mezzanine Financing
GE Capital was Sole Lead Arranger; supports cable systems acquisitions in Kentucky & Illinois
Castle Harlan, Inc. & CHAMP Private Equity
Private Equity Sponsors
GE Antares Capital/GE Capital Australia
Lead Arrangers
140.0 $120MM Revolver/$20 MM Second Lien Facility
Supports acquisition of Great Western Malting, Canada Malting Company & others
Secure Computing Corp.
Developer/Network Security Solutions
Citigroup
Lead
135.0 $20MM Revolver/$115MM Term Loan
Used in acquisition of CipherTrust
Oakleaf Waste Management, LLC
Provider/Waste Management Svcs.
Merrill Lynch Capital
Lead Arrangers
115.0 Revolver
Borrower is a Charterhouse Group portfolio company
Fitness Quest, Inc.
Distributor/Home Fitness Products
GE Global Sponsor Finance/Comerica Bank
Co-Lead Arrangers
105.0 $50MM Revolver/$55MM Term Loan
Five-year term/five-year term; refinances existing indebtedness
Guess? Inc.
Designer/Apparel
Bank of America
Lead
85.0 Revolver
Replaces existing ABL facility with Wachovia Securities
NATCO Group, Inc.
Provider/Oil Production Products
Wells Fargo
Lead
85.0 Revolver
Participants incl: HSBC, BofA, JPMorgan, Calyon & Compass Bank
Orange Broadband, Inc.
Provider/Broadband Services
GE Global Media & Communications
Administrative Agent 
70.0 $15MM Revolver/$45MM Term Loan/$10MM Second Lien Loan
Supports acquisition of certain assets of Charter Communications
Seaport Capital, LLC
Venture Capital Firm
GE Media & Communications
Admin Agent
68.0 Revolver
Used in acquisition of Everest Connections
PetSmart, Inc.
Retailer/Pet Products
Bank of America
Lead
65.0 Revolver
May be increased to $80MM
Bush Industries, Inc.
Manufacturer/Furniture
Bank of America Business Capital
Lender
56.5 Revolver
DDJ Capital Management owns a majority stake in borrower
Transportation Resource Partners, LP
Private Equity Sponsor
GE Antares Capital
Administrative Agent
56.5 $5MM Revolver/$37.5 Term Loan/$14 Second Lien Term Loan
Supports acquisition of National Powersport Auctions
Coachman Industries, Inc.
Manufacturer/Recreation Vehicles
LaSalle Business Credit
Lender
55.0 Revolver
Five-year term
TransFirst Holdings, Inc.
Provider/Payment Processing Svcs.
American Capital Strategies
Lender
54.0 Second Lien Junior Term Loan
Merrill Lynch Capital provided senior credit facilities
Specialty Manufacturing Company
Supplier/Safety Components
Merrill Lynch Capital
Lender
53.0 Revolver
Supports borrower's recapitalization by Century Park Capital Partners
Liberty Partners
Private Equity Sponsor
Merrill Lynch Capital
Sole Lead Arranger
50.0 Revolver
Supports acquisition of Component Hardware Group
TRC
Provider/Risk Mgmt.
Wells Fargo Foothill
Lead
50.0 Revolver
Services Five-year term; replaces Wachovia Bank facility
Adams Respiratory Therapeutics, Inc.
Manufacturer/OTC Medications
RBC Capital Markets
Lead
50.0 Revolver
Tengasco, Inc.
Provider/Gas Services
Citibank Texas
Lead
50.0 Revolver
Company's initial borrowing base set at $2.6MM
Duni Corporation
Manufacturer/Food Service Supplies
GE Antares Capital
Lead Arranger
39.0 Participants: CIT Sponsor Finance (syn agent) & Madison Capital (doc agent)
Wynnchurch Capital, Ltd.
Private Equity Sponsor
GE Antares Capital
Administrative Agent
38.0 Revolver
GE Capital Markets was lead arranger; supports acquisition of SafeWorks, LLC
Century Park Capital
Private Equity Firm
GE Antares Capital
Admin. Agent
37.5 $4MM Revolver/$26MM Term Loans/$7.5MM Acquisition Financing
Private Equity Firm Supports borrower's acquisition of Eckler Industries; GE Capital Markets was Sole Lead Arranger
C&B Services, Inc.
Provider/Disaster Recovery Services
New Stream Capital
Lender
35.0 Revolver
One-year term
MarketFare Foods, Inc.
Manufacturer/Specialty Foods
GE Commercial Finance
Lead Lender
30.0 $10MM Revolver/$20MM Second Lien Loan
GE Capital Markets was lead arranger
AMB Tran Group
Provider/Medical Transportation Services
Monroe Capital
Lead
30.0 $5MM Revolver/$23MM Term Loans/$2MM CAPEX
Refinances existing indebtedness/assists in dividend recapitalization
Clark Security Products, Inc. et al.
Distributor/Security Products
PNC Business Credit
Lender
29.5 Revolver
Co-borrowers include General Lock & others
Five Star Food Service
Provider/Food Vending Services
Wells Fargo Foothill
Lead
26.0 Revolver
Other participants include: Chatham Capital, Harbert Mgmt. & Morgan Kegan Mezzanine Funding
Zumiez.com, Inc.
Manufacturer/Sporting Apparel
Wells Fargo HSBC Trade Bank
Lead
25.0 Revolver
Barnett Corporation
Distributor/Paper Products
Webster Business Credit
Lead
25.0 Revolver
Patriot Timber Products International, Inc.
Distributor/Lumber
Webster Business Credit
Lead
22.5 Revolver
Crown Crafts, Inc.
Designer/Woven Products
CIT Commercial Services
Lead
22.0 Revolver
Three-year term
International Food Packers Association
Distributor/Food Products
PNC Business Credit
Lead
20.9 $20MM Revolver/$.9MM Term Loan
Allied Cash Holdings, LLC
Provider/Payday Lender Services
Continental Business Credit
Lead
20.0 Revolver
Represents $11MM increase from previous facility
Kitty Hawk
Provider/Ground Freight Transportation Services
PNC Bank
Lead
20.0 Revolver
Represents $5MM increase from previous facility
youbet.com
Provider/Internet Wagering Services
Wells Fargo Foothill
Lead
19.0 $4MM Revolver/$15MM Term Loan
Replaces MM&T bank facility
Long's Jewelers, LTD.
Retailer/Jewelry
Webster Business Credit
Lead
18.9 $17MM Revolver/$1.9MM CAPEX line
Gorman Group
Provider/Transporation Services
U.S. Bank Business Credit
Lead
18.0 Revolver
U.S. Bank Equipment Finance provided $4.7MM for borrower's fleet
Westin Automotive Product, Inc.
Distributor/After-Market Truck Parts
Union Bank of California
Lead
17.1 $16MM Revolver/$1.1MM Term Loan
Avon Automotive Holdings, Inc.
Manufacturer/Rubber Products
Crystal Capital 
Lead
16.3 Second Lien Junior Term Loan
Jeffries Finance agented $80MM in additional facilities
Intergrated BioPharma, Inc.
Manufacturer/Pharmaceuticals
Amalgamated Bank
Lead
15.0 Revolver
Refinances indebtedness with Bank of America
Bidz, Inc.
On-line Retailer/Jewelry
LaSalle Retail Finance
Lead
15.0 Revolver
Includes $5MM accordion feature
Milestone Partners
Private Equity Firm
New Star Financial
Lead
15.0 $2.5MM Revolver/$12.5MM Term Loans
Supports acquisition of portfolio company, Bodybuilder.com
Bulova Technologies, LLC
Manufacturer/Electronic Components
Webster Business Credit
Lead
14.5 Revolver
Kayon Corporation
Designer/Women's Apparel
Capstone Business Credit
Lead
13.5 $9MM Factoring/$4.5MM Purchase Order
Two-year term
PureTek Corp.
Manufacturer/Personal Care Products
GMAC Structured Finance
Lead
12.8 Revolver/Term Loan/CAPEX Facility
Traffic.com, Inc.
Provider/Traffic Information
Square 1 Bank
Lead
12.0 Revolver
Two-year term
Advancis Pharmaceutical Corporation
Developer/Pharmaceuticals
Merrill Lynch Capital
Lead
12.0 $4MM Revolver/$8MM Term Loan
Used to repay existing debt
J. Kindemann & Sons
Manufacturer/Christmas Lights
LaSalle Business Credit
Lead
11.8 Revolver
Proam Enterprise, Inc.
Designer/Security Cameras
U.S. Bank Business Credit
Lead
10.0 Revolver
Natrol, Inc.
Manufacturer/Nutritional Supplements
Wachovia Capital Finance
Lead
10.0 Revolver
Next, Inc.
Provider/Licensed Sportswear
GMAC Commercial Finance
Lead
10.0 Revolver
Replaces indebtedness with National City Bank (Indiana)
Personnel Staffing Group
Provider/Temporary Staffing Services
Capital TempFunds
Lead
10.0 $9MM Revolver/$1MM Acquisition Loan
$1MM supports acquisition of Most Valuable Personnel, Inc.
Southeastern Metal Products, LLC
Producer/Stamped Metal Products
PNC Business Credit
Lead
9.8 Revolver
Healthaxis, Inc.
Provider/Healthcare Payer Solutions
Silicon Valley Bank
Lead
5.8 $5MM Revolver/$.75MM CAPEX Line
Thompson Brands
Manufacturer/Chocolates
Webster Business Credit
Lead
5.4 Revolver
Three-year term
ForeScout Technologies, Inc.
Provider/Network Access Control
Hercules Technology Growth Capital
Lead
5.0 Revolver
IsoTis OrthoBiologics
Manufacturer/Orthobiologics
Silicon Valley Bank
Lead
5.0 Revolver
Two-year term
Summit Corporation of America
Provider/Electroplating Services
Webster Business Credit
Lead
5.0 Revolver
Consolidated Casting
Manufacturer/Precision Steel Casting
Marquette Business Credit
Lead
4.5 Revolver/Term Loan
Brighter Mind Media, Inc.
Publisher/Children's Media
Laurus Master Fund
Lead
3.5 $2.25MM Revolver/$1.25 Term Loan
Facility secured by first lien on Brighter Child Interactive assets
Company Name 
Provider/Refurbished Medical Equipment
Bridge Finance Group
Lead
3.3 Revolver
Ironclad Performance Wear Corporation
Manufacturer/Specialty Apparel
Wells Fargo Century 
Lead
3.0 Revolver
Poly-Tak Protection Systems
Provider/Adhesive Films
Marquette Business Credit
Lead
2.8 Revolver
A. Meredith Schneider Company
Producer/Utility Poles
Marquette Business Credit
Lead
2.3 Revolver
Communications Marketing and Distribution Services Inc.
Provider/Digital Printing Svcs.
Marquette Business Credit
Lead
2.3 Revolver
Gynesonics, Inc.
Developer/Medical Treatments
Hercules Technology Growth Capital
Lead
2.0 Revolver