Deal Charts

ABL Deal Chart 2007 Q2

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/07 through 6/30/07.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
Berry Plastics Group, Inc.
Manufacturer/Plastic packaging products
Bank of America Business Capital
Lender
400.0 Revolver, Letters of Credit
Refinances previous debt
American Commercial Lines, Inc.
Integrated marine transportation, service company
Wells Fargo Bank/Bank of America, JPMorgan Chase/Fortis, LaSalle et al 
Admin Agent/Co-syndication agents/Co-documentation agents
400.0 Revolver
Five-year term/Replaces previous debt
WESCO Distribution, Inc.
Distributor/Electrical supplies, equipment
GE Commercial Finance Corporate Lending
Lender
365.0 Asset-based facility
GE Capital Markets is arranger
Red Robin Gourmet Burgers, Inc.
Casual dining restaurant chain
Wachovia Capital Markets
Sole Lead Arranger, Bookrunner
300.0 $150MM Term Loan/$150MM Revolving Line of Credit
Five-year term/Replaces previous debt
Jason, Inc.
Manufacturer/Comprised of five businesses
GE Capital Markets
Sole lead arranger, bookrunner
260.0 $40MM Revolver/$220MM Term Loan
GE Antares Capital: admin agent
Handleman Company
Distributor/Music CDs, video games
GE Commercial Finance Corporate Lending, GE Capital Markets
Co-Lead arrangers
250.0 $110MM asset-based facility/$140MM Revolver
Riviera Holdings Corporation
Operator/Riviera Hotel & Casino, Riviera Black Hawk Casino
Wachovia Capital Markets, Wachovia Bank
Sole Lead Arranger/Bookrunner, Admin Agent/Sole Initial Lender
245.0 $20MM Revolver/$225MM Term Loan
Wells Fargo Foothill: syndication agent/CIT Lending Services: documentation agent
Transaction Network Services, Inc.
Provider/Data communications services
GE Capital Markets
Lead Arranger
240.0 $15MM Revolver/$225MM Term Loan
GE Commercial Finance, admin agent/Supports recap
Patheon, Inc.
Provider/Drug development, manufacturing services
J.P. Morgan Securities and GE Commercial Finance
Arrangers
225.0 $75MM Revolver/$150MM Term Loan
Term loan: seven-year term/Revolver: five-year term
Fenway Partners, Inc., Roadlink USA, Inc.
Middle-market private equity firm/Provider: Intermodal logistics services
GE Capital Markets, BMO Capital Markets
Co-Lead Arranger, Bookrunner/Co-Lead Arranger, Syndication Agent
219.0 $160MM First Lien/$59MM Second Lien
GE Antares: admin agent/Supports WSS, Staffworks acquisitions
Callon Petroleum Company
Operator, Developer/Oil & gas properties in Gulf Coast region
Merrill Lynch Capital
Lender
200.0 Revolver
Supports BP's Entrada Field Acquisition/Seven-year term
Ferrous Processing & Trading Co.
Provider/Scrap recovery processes, scrap-derived raw materials
Wachovia Capital Finance
Sole lead arranger/Bookrunner/Admin agent
175.0 Revolver
Ormet Corp.
Provider/Fully-integrated aluminum
Wachovia Capital Finance
Lead arranger/Bookrunner/Admin agent
175.0 Revolver/Term Loan
Essex Crane Rental Corp.
Provider/Crawler crane rentals
Wachovia Capital Finance
Lead arranger/Sole bookrunner/Admin agent
170.0 Revolver
York Tape and Label, Inc.
Manufacturer/Prime, pressure sensitive labels
GE Capital Markets
Lender
170.0 $20MM First Lien Revolver/$100MM First Lien Term Loan/$50MM Second Lien Revolver
Supports recap of company by Wind Point Partners/GE Antares is admin agent
Multimedia Games, Inc.
Developer/Comprehensive systems, electronic games, player terminals
Comerica Bank
Lender
150.0 Revolver
Five-year term/Replaces previous debt
Danka Business Systems PLC
Provider/Enterprise imaging systems, services
GE Corporate Lending
Lender
145.0 $40MM Revolver/$60MM Term Loan/$45MM Second Lien
Refinances previous debt
Park Avenue Equity Partners II
Private equity firm
GE Capital Markets
Lead Arranger, Bookrunner
143.0 $20MM Revolver/$93MM Term Loan/$30MM Mezzanine Loan
GE Commercial Finance, admin agent/Supports acquisition of Coastal Concrete
Universal Hospital Services, Inc.
Provider/Medical equipment lifecycle services
Merrill Lynch Capital
Lead Lender
135.0 Line of Credit
Photronics, Inc.
Manufacturer/Photomasks
JPMorgan Chase, Citizens Bank of Massachusetts, HSBC Bank USA, Citibank
Admin Agent/Collateral Agent, Co-syndication Agents
125.0 Revolver
Bank of America, UBS Loan Finance participating/Five-year term
Cortec Group Fund IV
Private equity firm
GE Capital Markets
Sole Lead Arranger/Bookrunner
118.0 $10MM Revolver/$108MM Term Loan
GE Antares Capital, GE Healthcare Financial Services: admin agent/Supports The Hygenic Corp. acquisition
TLC Vision Corp.
Eye care services company
CIT Healthcare
Lender
110.0 $25MM Revolver/$85MM Term Loan
Navarre Corporation
Publisher, Distributor/Home entertainment, multimedia products
GE Corporate Lending
Lender
110.0 Revolver
GE Capital Markets: arranger/Replaces previous debt
NEPTCO Inc.
Manufacturer/Engineered materials
GE Capital Markets/GE Antares Capital
Sole Lead Arranger/Bookrunner, Admin. Agent
101.0 $20MM Revolver/$81MM Term Loan
Supports company recap
BI-LO, LLC
Operator/Southeast supermarket chain
Merrill Lynch Capital
Sole Lead Arranger, Sole Bookrunner, Admin Agent
100.0 Revolver
Refinances previous debt
NaviSite, Inc.
Provider/Application, technology services
CIBC World Markets
Lead Arranger/Sole Bookrunner
100.0 $10MM Revolver/$90 MM Term Loan
Revolver: five-year term/Term Loan: six-year term
Multi-Color Corporation
Provider/Decorating solutions, packaging services
LaSalle Bank, BMO Capital, Key Bank and PNC Bank
Lenders
100.0 Revolver
Five-year term/Refinances previous debt
European Metal Recycling, LLC
UK-based metal recycling company
PNC Bank
Lender
100.0 $70MM Revolver/$30MM Term Loan
Support expansion into U.S.
InterMedia Partners, L.P.
Private equity investment firm
CIT Communications, Media and Entertainment
Lender
95.0 Revolver
Supports acquisition of LIN Television Corp.'s assets in Puerto Rico
Audax Group
Investor/Middle-market companies
GE Capital Markets
Lead Arranger/Bookrunner
90.5 Revolver/Term Loan/Acquisition Facility
GE Antares: admin agent/Supports A&A Manufacturing Co. acquisition
Cambridge Inc.
Provider/Metal conveyor belts
GE Capital Markets
Sole Lead Arranger, Bookrunner
90.0 $15MM Revolver/$75MM Term Loans
GE Antares: admin agent/Supports company recap
Peak Broadcasting LLC
Broadcasting company
GE Capital Markets
Lead Arranger/Bookrunner
86.5 $68.5MM First Lien
GE Media, Communications & Entertainment: admin agent, underwriter
The Newark Group, Inc.
Provider/Recycled paperboard
Wachovia Capital Finance
Lead arranger/Sole bookrunner/Admin agent
85.0 Revolver
Ryan & Company, Inc.
Provider/State, local tax consulting
Bank of America, Comerica Bank and JPMorgan Chase
Lender
80.0 Multi-Currency Syndicated facility
Supports future growth
Rackspace Managed Hosting, Ltd.
Provider/Enterprise-level managed services
Comerica Bank, JPMorgan Chase
Lenders
70.0 $45MM Revolver/$25MM Term Loan
Monomoy Capital Partners L.P.
Private equity firm
National City Business Credit
Agent
68.5 $55MM Revolver/$13.5MM Term Loan
Supports The Anchor Hocking Company acquisition
Jazz Semiconductor, Inc.
Manufacturer/Analog, radio frequency wafers
Jazz Semiconductor, Inc.
Lead arranger/Admin agent
65.0 Revolver
ColorMatrix Group, Inc.
Manufacturer/Liquid color, additive concentrates for thermoplastic products
GE Capital Markets
Lead Arranger/Bookrunner
65.0 Revolver/Term Loan
GE Antares: admin agent/Supports The Colorant-Chromatics Group acquisition
Evergreen Tank Solutions, Inc.
Provider/Temporary liquid, solid storage containers
Bank of America Business Capital
Lender
60.0 Revolver
Supports NES Rentals Holdings storage tank division acquisition
EarthColor, Inc.
Provider/Commercial print solutions
Bank of America Business Capital
Lender
60.0 Revolver
Refinances previous debt
E&B Giftware LLC
Manufacturer/High-impulse, niche accessories
GE Capital Markets, Cratos Capital Management
Co-Lead Arrangers
55.0 $15MM Revolver/$36MM Term Loan A/$4MM Term Loan B
GE Antares: admin agent
Goods Movement, Inc.
Provider/Materials handling, logistics
NewStar Financial
Lead arranger, syndication agent
53.0 $6MM Revolver/$47MM Term Loan
Five-year terms
Thompson Street Capital Partners
Manager/$445 million private equity fund
GE Capital Markets
Sole Lead Arranger
52.0 $8MM Revolver/$44MM Term Loan
Supports recap of Kele/GE Antares: admin agent
Marshfield DoorSystems, Inc.
Manufacturer/Commercial architectural wood door, door core
GE Antares Capital
Lender
51.0 $10MM Revolver/$36MM Term Loan/$5MM CAPEX Line
Supports company recap
Cable Solutions Group, Inc.
Manufacturer/Engineered steel, cables, assemblies, synthetic ropes
Merrill Lynch Capital
Sole Lead arranger, admin agent
50.0 Revolver
Supports The Cortland Companies acquisition
Scott Brass, Inc
Producer/High-quality brass & copper strip
Wachovia Capital Finance
Sole lender
50.0 Revolver/Term Loan
Diversified Machine, Inc.
Precision machining company
Merrill Lynch Capital
Lead Arranger/Admin Agent
50.0 Revolver
Supports Hayes Lemmerz International suspension components division acquisition
Vertis Communications, Inc.
Provider/marketing & media solutions
Crystal Capital Fund, L.P.
Lead Arranger
50.0 Term Loan
Refinances previous debt
Lily Transportation Corp.
Provider/Transportation, distribution services
Textron Business Credit, Wachovia Capital Finance
Co-Lenders
50.0 Revolver
Remmele Engineering, Inc
Manufacturer/Precision machined parts
Wachovia Capital Finance
Sole lead arranger/Manager/Bookrunner
47.5 Revolver
McAlister's Deli
Operator/Chain of quick casual restaurants
Merrill Lynch Capital
Lender/Admin Agent
47.0 Revolver
Supports recap
SMART Papers, LLC
Manufacturer/Premium coated, uncoated printing papers
Wells Fargo Foothill
Lender
45.0 Revolver
CIC Partners, LP
Investor/middle-market food industry
Emporia Capital Funding
Sole Lead Arranger
44.5 Senior, Second Lien facilities
Supports River Point acquisition
Palm, Inc.
Provider/Mobile computing
JPMorgan, Morgan Stanley
Joint Bookrunners
40.0 Revolver
Supports company recap
Simply Goodies, LLC
Newly formed entity of Blueberry Hill Foods, Warner Candy Co.
Bridge Finance Group
Lender
39.2 $23.5MM Revolving Line of Credit/$15MM Direct Finance Lease/$.65MM Term Loan
Nashua Corporation
Manufacturer/Specialty imaging products, services
LaSalle Bank and Bank of America
Lenders
38.0 $28MM Revolver/$10MM Term Loan
Five-year term/Replaces previous debt
Tinicum Capital Partners II
Private investment partnership
Merrill Lynch Capital
Sole lead arranger/Admin agent
37.0 Revolver
Supports Western Pneumatic Tube acquisition
DHB Industries Inc.
Provider/Protective body armor
LaSalle Business Credit
Lender
35.0 Revolver
Three-year term
Carex Health Brands
Provider/Self-care products
Merrill Lynch Capital
Sole lender, admin agent
33.0 Revolver
Support Thera-Med, Inc. acquisition
HSE Integrated Ltd.
Supplier/Industrial health, safety, environmental services
CIBC
Lender
32.5 $25MM Revolver/$7.5MM Operating Facility
Revolver: three-year term
Cascade Windows
Manufacturer/Full line of vinyl windows, patio doors
Merrill Lynch Capital
Lead Arranger/Admin Agent
32.0 Revolver
Supports company recap
Penn Foster Career School
Provider/Distance education
GE Media, Communications & Entertainment
Lender, Admin Agent
30.0 Revolver
Support Education Direct, Thompson Education Direct acquisitions
Rockford Products Corp.
Manufacturer/Steel cold-formed components, fasteners, etc.
Bridge Finance Group
Lender
27.5 $20.5MM Revolving Line of Credit/$7.0MM Term Loan
Madacy Entertainment Income Fund
Developer, Marketer/Recorded music products
LaSalle Business Credit
Lender
27.0 Revolver
Refinances previous debt
North American Galvanizing & Coatings, Inc.
Manufacturer/Hot-dip galvanizing, coatings
Bank of America
Swing line lender, admin agent
25.0 Revolver
Refinances previous debt
Monomoy Capital Partners, L.P.
Private equity firm
PNC Bank
Lender
25.0 Revolver/Term Loan/CAPEX
Supports Kurz-Kasch, acquisition/Steel City Capital Funding provided second lien term loan
Keeco, LLC
Designer, distributor/Bedroom linens
U.S. Bank Business Credit
Lender
25.0 Revolver
Refinances previous debt
Somero Enterprises, Inc.
Manufacturer/Laser guided equipment
Citizens Bank New Hampshire
Lender
24.0 $14MM Revolving Line of Credit/$10MM Term Loan
Tectura Corp.
Provide/Microsoft Integrated Business Solutions
Hercules Technology Growth Capital
Lender
22.0 Debt Financing
Supports future acquisitions
Caffeine, Inc.
Manufacturer/Young men's sportswear collection
Capstone Business Credit
Lender
21.2 $13.8MM Factoring/$7.4MM PO Financing
Two-year term
IsoTis, Inc.
Manufacturer/Musculoskeletal diseases, disorders treatment products
Merrill Lynch Capital, Silicon Valley Bank
Lenders
20.0 $10MM Term Loan/$10MM Revolving Line of Credit
Three-year term
Syntax-Brillian Corporation
manufacturer/LCD, LCoS(tm) HDTVs, digital entertainment products
CIT Commercial Services
Lender
20.0 Term Loan
Centric Health Finance, LLC
Provider/Business management & financial services
GE Healthcare Financial Services
Lender
20.0 Revolving Line of Credit
Supports growth plans
Cervalis LLC
Provider/IT infrastructure solutions
MCG Capital Corp.
Lender
20.0 Revolver
Supports expansion plans
Rubicon Technology, Inc.
Provider/Innovative solutions for opto-electronics, compound semiconductor, semiconductor fabrication customers
Hercules Technology Growth Capital
Lender
16.0 Growth Capital/Equipment Financing
Ginsey Industries, Inc.
Manufacturer/Juvenile, adult bath products
PNC Bank 
Lender
15.6 $11MM Revolver/$4.6MM Term Loan
Supports acquisition by Hunt Private Equity Group
U.S. Floor, Inc.
Provider/Green"
environmentally responsible flooring" GMAC CF Commercial Services Division
Lender
15.0 Revolver
GE Antares: admin agent/Supports company recap
LOREX Technology, Inc.
Developer/Digital video, security surveillance products
Wells Fargo Business Credit
Lender
15.0 $13MM Asset-based facility/$2MM Term Loan
Replaces previous debt
Safe Renewables Corporation
Producer/Biodiesel
Marquette Commercial Finance, Aequitas Capital Management
Lenders
15.0 $10MM Working Capital Facility/$5MM Convertible Debenture
Ability to expand both facilities to $200MM
KN Rubber, LLC
Combo/Koneta, Inc., National Rubber Technologies, manufacturers of rubber products
PNC Bank
Lender
14.6 $10MM Revolver/$.6MM Term Loan/C$4MM Term Loan
Supports Koneta Inc., NRI Industries acquisitions
IntriCon Corporation
Manufacturer/Medical, electronic products
LaSalle Bank
Lender
14.5 $10MM Revolver/$4.5MM Term Loan
Revolver: five-year term/Supports Tibbetts Industries acquisitions
Seismic Equipment Solutions II, L.P.
Provider/Leasing, selling, technical support of instrumentation
PNC Bank
Lender
14.0 Revolver/Letters of credit
Refinances existing debt
Discovery Laboratories, Inc.
Bio-pharmaceutical company
Merrill Lynch Capital Healthcare Finance Group
Lender
12.5 Revolver
Case-It
Distributor/Media storage/Back-to-school products
Webster Business Credit Corporation
Lender
12.5 Revolver
FAS Controls, Inc.
Manufacturer/Pressure switches, valves, circuit breakers, coils
PNC Bank
Lender
12.5 $7MM Revolver/$5.5MM Term Loan
Supports acquisition of Honeywell by IOP, establishment of FAS
Paradigm Holdings, Inc.
Provider/IT, business solutions
SVB Silicon Valley Bank
Lender
12.5 Revolver
Supports future growth
Barrier Therapeutics, Inc.
Provider/Communications solutions, services
Merrill Lynch Capital
Lender
12.0 Revolver
Three-year term
Teltronics, Inc.
Pharmaceutical company
Wells Fargo Foothill
Lender
12.0 Revolver
Supports growth strategies
FDP Virginia, Inc.
Manufacturer/Aftermarket automotive brake parts
PNC Bank 
Lender
11.0 Revolver
Refinances previous debt
EKOS Corporation
Provider/Ultrasound-accelerated, fluid infusion catheters
Hercules Technology Growth Capital
Lender
10.0 Debt Financing
The Bombay Company, Inc.
designer/Line of home accessories, wall décor, furniture
GB Merchant Partners
Lender
10.0 Term Loan
Neosil, Inc.
Dermatology-focused pharmaceutical company
Hercules Technology Growth Capital
Lender
10.0 Venture Debt Financing
Aerial Access Equipment, Inc.
Medium-duty equipment rental business
North Fork Business Capital
Lender
9.0 $3MM Revolving Line of Credit/$6MM CAPEX Term Loan
Three-year term/Supports expansion plans
Coordinated Home Health Care, Inc
Provider/Unskilled home health services
Healthcare Finance Group
Lender
8.5 $3MM Revolver/$5.5MM Term Loan
Supports acquisition of CHHC by Transition Capital Partners
HEI, Inc.
Manufacturer/Microelectronics, subsystems, systems, etc.
Wells Fargo Business Credit
Lender
8.3 $8MM Revolving Line of Credit/$.34MM Term Loan
Three-year term/Export-Import Bank was underwriter for portion of revolver
MJ Christensen Diamond Centers
Retailer/Diamonds, fashion jewelry
Webster Business Credit Corp.
Lender
8.0 Revolver
Three-year term
Berliner Communications, Inc.
Provider/Outsourced services for wireless communications industry
Presidential Financial Corporation
Lender
8.0 Line of Credit
Waterfront Media, Inc.
Online health media company
Hercules Technology Growth Capital
Lender
8.0 Venture Debt Financing
Seagull Enterprises, LLC
Supplier/Carpet, vinyl, hard-surface flooring
Webster Business Credit Corporation
Lender
7.0 Revolver
Supports recap to facilitate ownership, management succession
Brantley Acquisition, LLC
Hauler/Oilfield equipment
Marquette Business Capital
Lender
6.0 Revolving Line of Credit/Term Loans
LTS Logistics, LLC
Provider/Third-party logistics, transportation management
Webster Business Credit Corporation
Lender
5.3 Revolver
Supports purchase transaction
JPS Corporation
Manufacturer/Cargo control products 
Marquette Business Credit
Lender
5.0 Revolving Line of Credit/Term Loan
Vertical Branding, Inc.
Provider/Consumer products branding, marketing, distribution
BFI Finance
Lender
5.0 Revolving Line of Credit
Replaces previous debt
Leader Funding, Inc.
Lender/Construction
RBA Capital
Lender
5.0 Revolver
Supports future growth
Veronica Foods Company, Inc.
Importer/Super-premium organic extra virgin olive oil, related blends, specialty oils
Marquette Business Credit
Lender
5.0 $5MM Revolving Line of Credit, Term Loan, CAPEX Line
CITTIO, Inc.
Provider/Automated network, systems monitoring software
Hercules Technology Growth Capital
Lender
5.0 Debt financing
Klegg Electronics, Inc.
Manufacturer/Consumer electronics
Ashford Finance
Lender
5.0 Revolver
Supports marketing and advertising
Argos Therapeutics, Inc.
Biotechnology company
Silicon Valley Bank, Oxford Finance Corp.
Lender
5.0 Debt Financing
Three-year term
EDGAR Online, Inc.
Provider/Business, financial information
Rosenthal & Rosenthal, Inc.
Lender
5.0 $2.5MM Revolver/$2.5MM Term Loan
Term Loan: three-year term
Mendocino Brewing Company, Inc.
Distributor/Beer, Brewer
Marquette Business Credit
Lender
4.9 Revolving Line of Credit/Term Loan
St. Bernard Software, Inc.
Provider/Comprehensive security, hosted office solutions
SVB Silicon Valley bank
Lender
4.0 $2MM Revolving Line of Credit/$2MM Term Loan
Replaces previous debt
NeoGenomics, Inc.
Provider/Cancer genetics testing
Wachovia Bank
Lender
4.0 $2MM Working Capital Facility/$2MM CAPEX Facility
International Apparel Group, Inc.
Apparel Holding Company
Platinum Funding Group
Lender
4.0 Factoring Facility
Two-year term
PPI/Time Zero, Inc.
Provider/Printed circuit board assembly, final box assembly, testing
Webster Business Credit Corp.
Agent
3.0 Revolver
Three-year term
Best Funding Corp.
Lender/Rehab facilities 
RBA Capital
Lender
3.0 Revolver
Arichem, LLC
Manufacturer/Chemicals used in various industries
Marquette Business Credit
Lender
3.0 Revolving Line of Credit/Term Loan
Party Time Rental, Inc.
Event rental company
Bridge Business Bancorp
Lender
2.8 Term Loans
Pays off all long-term debt
Florida Trim, Inc.
Provider/Materials, installation services
Puritan Finance
Lender
2.5 Revolver
Houlihan Smith & Company: financial advisor
Furniture Factory Warehouse, Inc.
Operater/12 retail stores throughout Texas
Webster Business Credit Corp.
Lender
2.0 Revolver
Three-year term
Cygnal Technologies Corporation
Provider/Network communication solutions
Laurus Master Fund
Lender
2.0 Debt Financing
TVM Building Products, Inc.
Distributor/Reflective insulation material and sealants
Marquette Business Credit
Lender
2.0 Revolving Line of Credit
Pacific Imaging, LLC
Provider/Multi-modality outpatient diagnostic imaging
Bridge Business Bancorp
Lender
2.0 SBA 7(a) Term Loan
Re-finances equipment lease
Americal Corp.
Distributor/Hosiery products
Midwest Business Capital
Lender
1.9 Mortgage Loan 
Refinances existing mortgage