Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/12 through 6/30/12.
| BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES | ||
|---|---|---|---|---|---|
| Performance Food Group Distributor/Foodservice |
Wells Fargo Capital Finance Left Ld Jt Arranger, Bookrunner, Admin Agent |
1400.0 | Revolver Refinances existing debt |
||
| Wendy's International Operator/Hamburger Company |
Bank of America, Wells Fargo Securities Jt Ld Arrangers, Jt Book Managers |
1325.0 | $200MM Revolver/$1,125MM Term Loan |
||
| Lithia Motors Operator/Auto Dealer |
U.S. Bank Admin Agent |
650.0 | Revolver Five-year term/U.S. Bank, JPMorgan Chase: Jt bookrunners/BofA, Wells Fargo, Bank of the West, KeyBank participated |
||
| NGL Energy Partners Operator/Energy Business |
Deutsche Bank Securities Agent |
650.0 | Revolver Five-year term/Supports merger with High Sierra Energy |
||
| Apollo Group Provider/Educational Programs |
Services | JPMorgan Chase Bank Admin Agent |
625.0 | Revolver Five-year term |
|
| First American Financial Provider/Title Insurance |
Settlement Services | J.P. Morgan Securities, U.S. Bank, Wells Fargo Securities Jt Ld Arrangers, Jt Bookrunners |
600.0 | Revolver Four-year term |
|
| HSN Retailer/Interactive Multichannel Products |
Bank of America Admin Agent, Collateral Agent |
600.0 | $350MM Revolver/$250MM Term Loan Five-year term/Replaces $150MM revolver/JPMorgan Chase, Wells Fargo, Barclays, BB&T, Regions others participated |
||
| Sigma-Aldrich Operator/Life Science |
Technology Company | Wells Fargo Securities, Merrill Lynch, J.P. Morgan Securities Co-Lead Arrangers |
600.0 | Revolver Replaces $450MM revolver/Wells Fargo Bank: Admin agent |
|
| Beacon Roofing Supply Distributor/Roofing Materials |
Building Products | Wells Fargo Bank Admin Agent |
565.0 | $550MM Revolver/C$15MM Revolver Five-year term/Wells Fargo Securities: Ld arranger, jt bookrunner |
|
| TricorBraun Provider/Packaging Solutions |
GE Antares Lender |
555.0 | $75MM Revolver/$480MM Term Loan Refinances debt/GE Capital Markets: Jt ld arranger, co-bookrunner |
||
| Kronos Worldwide Producer/Titanium Dioxide Products |
Wells Fargo Bank/Wells Fargo Securities Admin Agent/Sole Ld Arranger, Sole Book Manager |
525.0 | $125MM Revolver/$400MM Term Loan |
||
| Cypress Semiconductor Provider/Programmable Solutions |
Morgan Stanley Senior Funding Administrative Agent, Collateral Agent |
430.0 | Revolver Five-year term |
||
| McGrath RentCorp Operator/B2B Rental Company |
Bank of America/Union Bank of California Admin Agent/Syn Agent |
420.0 | Revolver Five-year term/Merrill Lynch: Sole ld arranger, sole book manager |
||
| Healthways Provider/Well-Being Solutions |
Sun Trust Robinson Humphrey Lead Lender |
400.0 | $200MM Revolver/$200MM Term Loan Five-year term/U.S. Bank, Fifth Third Bank: Jt ld arrangers, jt bookrunners |
||
| Hearthside Food Solutions Manufacturer/Grain-Based Food |
Snacks | GE Antares Admin Agent |
400.0 | $30MM Revolver/$370MM term loan Supports recap by Wind Point Partners/GE Capital Markets: Jt ld arranger, jt bookrunner |
|
| Wabash National Manufacturer/Semi Trailers |
Morgan Stanley Senior Funding/Wells Fargo Securities Jt Ld Arranger, Jt Bookrunner, Admin Agent, Coll Agent/Jt Ld Arranger, Bookrunner |
300.0 | Term Loan Seven-year term/Supports acquisition of Walker Group Holdings/Also amended $150MM five-year revolver led by WFCF |
||
| Globe Specialty Metals Producer/Silicon Metal |
Alloys | Fifth Third Bank Jt Ld Arranger, Admin Agent |
300.0 | Revolver Five-year term/BofA Merrill Lynch: Jt ld arranger, KeyBank, Sovereign, Wells Fargo: Co-syn agents |
|
| Clearwater Seafoods Operator/Seafood Companies |
GE Capital, Corporate Finance Co-Lead Lender |
265.0 | Revolver/Term Loan GE Capital Markets: Jt Ld Arranger/Supports growth |
||
| Denny's Operator/Restaurants |
Wells Fargo Securities, Regions Capital Markets, GE Capital Markets Jt Ld Arrangers, Jt Bookrunners |
250.0 | Revolver Five-year term/Wells Fargo: Admin agent, L/C issuer/Cadence Bank, RBS Citizens: co-doc agents |
||
| 84 Lumber Supplier/Building Materials |
Wells Fargo Capital Finance/GE Capital Jt Ld Arranger, Admin Agent/Co-Coll Agent, Doc Agent |
225.0 | Revolver Refinances existing debt |
||
| Encompass Home Health Provider/Home Health Care |
CIT Bank Arranger, Syndicator |
210.0 | Revolver Supports refinancing/CIT Healthcare: Jt ld arranger, Sole bookrunner, admin agent |
||
| PetSmart Retailer/Specialty Pet Products |
Wells Fargo Capital Finance Agent |
200.0 | $100MM Revolver/$100MM LOC Facility |
||
| Verso Paper Holdings Producer/Coated Papers |
Citibank, Credit Suisse, Cayman Islands Branch Admin Agents |
200.0 | $150MM Revolver/$50MM Cash-Flow Facility Five-year term/Citigroup Global Mkts, Barclays, Credit Suisse Securities, PNC, Siemens Financial Svs, Wells Fargo participated |
||
| SBA Communications Provider/Wireless Communications Infrastructure |
TD Securities (USA) and Wells Fargo Securities Jt Ld Arrangers |
200.0 | Term Loan Also amended its revolving credit facility |
||
| School Specialty Distributor/Educational Products |
Wells Fargo Capital Finance/GE Capital, Corporate Finance Ld Arranger, Admin Agent/Co-Collateral Agent |
200.0 | Revolver Refinances existing debt/GE Capital Markets: Co-Ld Arranger, Jt Bookrunner |
||
| Global Brass and Copper Distributor/Copper |
Brass Products | Wells Fargo Capital Finance, GE Capital Markets Jt Ld Arrangers |
200.0 | Revolver Wells Fargo, BofA Securities: Jt bookrunners/Supports company recap |
|
| Spartan Stores Operator/Supermarkets |
Wells Fargo Capital Finance Arranger, Agent |
200.0 | Revolver |
||
| DSI Renal Provider/Dialysis Services |
GE Capital, Healthcare Financial Services Admin Agent |
193.0 | Revolver Supports acquisition of 54 dialysis clinics/GE Capital Markets: Jt lead arranger, jt bookrunner |
||
| Tensar Corp Provider/Proprietary Products |
Engineering Services | GE Antares Capital Agent |
175.0 | Revolver Company sponsors: PineBridge, American Capital, Arcapita |
|
| Five Star Quality Care Owner/Senior Living Communities |
Citigroup and RBC Capital Markets Jt Ld Arrangers, Bookrunners |
150.0 | Revolver Three-year term/Citibank: Admin agent/RBC: Syn agent/CIT Healthcare, Compass Bank, PNC, Huntington National Bank: Co-doc agents |
||
| M. Holland Co | M Holland Canada Co Distributor/Plastic Resins |
Wells Fargo Capital Finance Sole Ld Arranger, Admin Agent |
150.0 | Revolver Five-year term/Refinances existing debt/Support M. Holland's acquisition objectives |
|
| Unifi Manufactures/Polyester |
Nylon Yarns | Wells Fargo Capital Finance Sole Ld Arranger, Bookrunner, Admin Agent |
150.0 | $100MM Revolver/$50MM Term Loan Refinances existing facility |
|
| SMW Automotive Supplier/Automotive Parts |
PNC Bank Lender |
150.0 | Revolver PNC Capital Markets led syndication/Steel City Capital Funding provided junior financing |
||
| Taghleef Industries Producer/Plastic |
Packaging Films | GE Capital, Corporate Finance Admin Agent |
143.0 | Revolver Supports Applied Extrusion Technologies acquisition/GE Capital Markets: Sole ld arranger, bookrunner |
|
| Gogo Provider/In-Flight Connectivity |
Morgan Stanley, J.P Morgan Lenders |
135.0 | Revolver Supports expansion plans |
||
| RealD Licensor/3D Technologies |
City National Bank Admin Agent |
125.0 | $75MM Revolver/$50MM Term Loan Replaces existing credit agreement |
||
| TrustHouse Services Group Provider/Healthcare |
Education-Focused Food Services | CIT Group Arranger |
117.5 | Revolver Supports acquisition of Valley Services/CIT Sponsor Finance: Jt ld arranger, jt bookrunner, admin agent |
|
| Primary Energy Recycling Operator/Clean Energy Company |
Scotiabank Global Banking and Markets, RBC Capital Markets Jt Ld Arrangers, Jt Bookrunners |
110.0 | $25MM Revolver/$85MM Term Loan Five, seven-year terms/Supports purchase of Primary Energy Recycling Holdings |
||
| Ebix Supplier/On-Demand Software |
E-Commerce Services | Citibank Admin Agent |
100.0 | $45MM Revolver/$45MM Term Loan Four-year term/Citibank, Wells Fargo Capital Finance, RBS Citizens: Jt lenders |
|
| Arkansas Best Provider/Freight Transportation |
Logistics | U.S. Bank Ld Arranger |
100.0 | Term Loan Five-year term/Supports Panther Expedited Services acquisition |
|
| CAI International Lessor/Intermodal Freight Containers |
Union Bank Admin Agent, Jt Ld Arranger, Sole Bookrunner |
85.0 | Revolver Three-year term/Supports acquisition of railcars/U.S. Bank: Syn agent, jt l arranger |
||
| MetoKote Provider/Coating Solutions |
Huntington National Bank/FirstMerit Bank Admin Agent, Sole Bookrunner/Syn Agent/Jt Ld Arrangers |
80.0 | Revolver Five-year term/First Commonwealth, First National Bank of PA Sumitomo Mitsui Banking, TriState Capital Bank: lenders |
||
| Signature HealthCARE Provider/Long-Term Care Services |
Capital One Bank Lender |
70.0 | Revolver Three-year term/Supports growth |
||
| School Specialty Distributor/Educational Products |
H.I.G. WhiteHorse Lender |
70.0 | Term Loan refinance the company's existing senior credit facilities. |
||
|
Propex Operating Company Provider/Engineered Products" |
Bank of America Lender |
65.0 | Revolver Refinances existing debt |
||
| MedPlast Producer/Precision Components |
PNC Bank Lender |
60.0 | Revolver Supports acquisition of United Plastic Group/Steel City Capital Funding provided financing |
||
| Apio Supplier/Packaged Vegetables |
GE Capital, Corporate Finance Lender |
57.0 | $25MM Revolver/$32MM Term Loan Supports GreenLine Foods acquisition/GE Capital Markets: Ld arranger on portion of term loan |
||
| New Carbon Company Provider/Waffle Mix |
NXT Capital Sole Ld Arranger, Sole Bookrunner, Admin Agent |
52.8 | Revolver Supports acquisition by PNC RiverArch Capital |
||
| Halston Designer/Women's Apparel |
Accessories | Wells Fargo Capital Finance Lender |
50.0 | Revolver Trade Capital Division provided the facility |
|
| YETI Coolers Designer/Premium Coolers |
Fifth Street Finance Ld Admin Agent, Underwriter |
47.5 | $7.5MM Revolver/$40MM Term Loans Support acquisition by Cortec Group |
||
| Advanced Lighting Technologies Manufacturer/Energy Efficient Lighting Products |
Bank of America Lender |
45.0 | Revolver |
||
| R. Cushman & Associates Manufacturer/Power Transmission Products |
Monroe Capital Lender |
43.3 | Revolver Supports acquisition by Fabco Automotive Corporation Partners |
||
| Alphatec Holdings Provider/Medical Devices |
MidCap Financial Lender |
40.0 | Revolver Three-year term/Replaces prior facility with Silicon Valley Bank |
||
| LLFlex Manufacturer/Packaging |
Laminated Materials | LBC Credit Partners Agent |
40.0 | Term Loan Supports purchase of LLFlex by Centre Lane Partners |
|
| Layered Technologies Provider/Hosting |
Cloud Services | Fortress Investment Group Lender |
38.0 | Revolver |
|
| K-Swiss Developer/Footwear |
Apparel | Accessories | Wells Fargo Capital Finance Lender |
35.0 | Revolver Four-year term/Pays off existing facility with Bank of America |
| FRAC-CHEM Manufacturer/Oilfield Chemicals |
PNC Bank Lender |
35.0 | Revolver |
||
| ENGlobal Provider/Engineering |
Project Services | PNC Bank Lender |
35.0 | Revolver Three-year term/Repays $35MM facility with Wells Fargo Bank |
|
| Gulf Coast Healthcare Operator/Skilled Nursing |
Assisted Living Facilities | CapitalSource Healthcare Credit Lender |
35.0 | Revolver |
|
| Silverleaf Resorts Operator/Timeshares |
Capital One Bank Lender |
35.0 | Revolver Five-year term |
||
| Copernicus Group Institutional Review Board Provider/Compliance Services |
NewStar Financial Ld Arranger, Admin Agent |
33.5 | Revolver Supports acquisition by Arsenal Capital Partners |
||
| Bakers Footwear Group Retailer/Fashion Footwear |
Crystal Financial Lender |
30.0 | Revolver Four year term/Replaces existing facility with BofA |
||
| The Meadows of Wickenburg Operator/Addiction |
Trauma Treatment Center | Ally Commercial Finance Admin Agent |
28.0 | Revolver Refinances existing facility |
|
| Pacira Pharmaceuticals Provider/Specialty Pharmaceuticals |
Oxford Finance Lender |
27.5 | Term Loan Refinances existing debt |
||
| Hudson Technologies Provider/Refrigeration Industry Solution |
PNC Bank Lender |
27.0 | Revolver Three-year term/Replaces previous $15MM revolver with Keltic Financial Partners |
||
| Directional Rentals Provider/Oilfield Services |
Capital One Bank Lender |
25.0 | Revolver Five-year term/Recently acquired by Hicks Equity Partners, senior mgmt |
||
| FastPay Operator/Digital Media Finance Platform |
Wells Fargo Capital Finance Lender |
25.0 | Revolver SF Capital Group provided subordinated debt and equity investment |
||
| Anderson Regional Medical Center Operator/Community Health System |
Healthcare Finance Group Lender |
25.0 | Revolver |
||
| Frederick's of Hollywood Group Retailer/Women's Apparel |
Lingerie | Salus Capital Partners Lender |
24.0 | Revolver Three-year term/Replaces $12.5MM revolver with Wells Fargo, $8MM term loan with Hilco Brands |
|
| Big M Retailer/Apparel |
Accessories | Salus Capital Partners Lender |
20.0 | Revolver GRL Capital Advisors: Arranged financing/Refinances existing facility |
|
| EnteroMedics Developer/Medical Devices |
Silicon Valley Bank Lender |
20.0 | Term Loan |
||
| Delcath Systems Provider/Pharmaceuticals |
Medical Devices | Silicon Valley Bank Lender |
20.0 | Revolver Supports overall growth, development |
|
| Cambria Company Operator/Quartz-Producing Plants |
Cole Taylor Business Capital Lender |
20.0 | Revolver |
||
| Southwest Georgia Ethanol Producer/Corn Ethanol |
AloStar Business Credit Lender |
20.0 | Revolver |
||
| Namco Retailer/Home Recreational Products Retailer |
Salus Capital Partners Lender |
20.0 | Revolver |
||
| Slate Media Group Provider/Entertainment Production Equipment Rental |
NewStar Business Credit Lender |
18.1 | $14.1MM Revolver/$4MM Term Loan Supports acquisition of Technicolor NY ops, certain assets of Telecorps Holdings |
||
| Alliance Distributors Holding Distributor/Videogames |
PNC Bank Lender |
16.5 | $15MM Revolver/$1.5MM Term Loan Three-year term/Replaces prior facility with Rosenthal & Rosenthal |
||
| NanoString Technologies Provider/Life Sciences Tools |
Oxford Finance, Silicon Valley Bank Lenders |
15.0 | $2MM Revolver/$13MM Term Loan |
||
| Prospect Medical Holdings Provider/Healthcare |
Physician Services | Doral Healthcare Finance Lender |
15.0 | Revolver Part of a $40MM financing |
|
| Shoe Sensation Retailer/Footwear |
Accessories | AloStar Business Credit Lender |
15.0 | Revolver |
|
| Universal Metals Distributor/Steel Coils |
Huntington Bank Asset Based Lending Lender |
15.0 | Revolver Refinances existing bank debt |
||
| Primary Packaging Manufacturer/Polyethylene Film |
Bags | FirstMerit Bank Business Credit Lender |
12.5 | Revolver/Term Loan Partially finances acquisition of Primary Packaging by Fields Ventures |
|
| PolyMedix Developer/Therapeutic Drugs |
MidCap Financial Lender |
12.0 | Term Loan Pays off existing debt facility |
||
| House of Stainless Operator/Non-Ferrous Metals Service Center |
Huntington Bank Asset Based Lending Lender |
12.0 | Revolver Refinances existing debt |
||
| Ultra Pro Corporation Manufacturer/Gaming |
Collectibles | NewStar Business Credit Lender |
11.3 | Revolver/Term Loan Support acquisition of the Collectibles Division of Ultra Pro Corp |
|
| Reliant Senior Care Operator/Long-Term |
Post-Acute Care Centers | CapitalSource Healthcare Credit Lender |
11.0 | Revolver |
|
| Swift Electrical Provider/Electrical Supply |
Webster Business Credit Lender |
11.0 | Revolver Refinance existing facility |
||
| 2tor Provider/Online Degree Programs |
Comerica Bank Lender |
10.0 | Revolver Supports growth, strategic initiatives |
||
| Quantum Fuel Systems Technologies Provider/Alternative Energy |
Bridge Bank Lender |
10.0 | Revolver |
||
| Horton Archery Manufacturer/Crossbows |
Archery Products | NewStar Business Credit Lender |
10.0 | Revolver Supports future growth |
|
| NW Sign Industries Manufacturer/Custom Signage |
FirstMerit Bank Business Credit Lender |
10.0 | Revolver |
||
| Dianne's Fine Desserts Manufacturer/Gourmet Desserts |
Huntington Bank Asset Based Lending Lender |
10.0 | Revolver Supports asset acquisition |
||
| The Markets Operator/Grocery Stores |
Pharmacies | NewStar Business Credit Lender |
10.0 | Revolver Supports growth |
|
| Compass Chemical International Manufacturer/Specialty Chemicals |
FirstMerit Bank Business Credit Lender |
9.8 | Revolver/Term Loan Refinances existing debt |
||
| John B Rudy Company Distributor/Wire |
Cable | Related Connectivity Products | First Capital Lender |
9.5 | Revolver |
| Earthcore Industries Manufacturer/Isokern Fireplaces |
Chimneys | Cole Taylor Business Capital Lender |
9.5 | Revolver Supports acquisition needs |
|
| Colorbok Distributor/Scrapbooking Products |
Stationary | Crafts | FirstMerit Bank Business Credit Lender |
9.0 | Revolver Partially finances acquisition by Lazear Capital |
| Jackson and Tull Provider/Engineering |
TechnicalServices | Wells Fargo Capital Finance Lender |
9.0 | Revolver Cedar Croft Consulting: Financial advisor |
|
| Omni Valve Company Provider/Valve Solutions |
First Capital Lender |
9.0 | Revolver |
||
| Whitley Products Supplier/Fabricated Tubular Products |
Keltic Financial Services Lender |
8.9 | $7.5MM Revolver/$.92MM Term Loan/$.5MM CAPEX Loan |
||
| Summit Steel Distributor/Alloy |
Carbon Bar Stock | FirstMerit Bank Business Credit Lender |
8.5 | Revolver Refinances existing debt |
|
| BIOLASE Manufacturer/Dental Lasers |
Comerica Bank Lender |
8.0 | Revolver Two-year term |
||
| Zentech Manufacturing Provider/Electronics Manufacturing Services |
Cole Taylor Business Capital Lender |
7.7 | Revolver Supports company recap/NewSpring Mezzanine provided mezzanine debt, equity financing |
||
| PharmAthene Developer/Medical Countermeasures |
GE Capital, Healthcare Financial Services Lender |
7.5 | $5MM Revolver/$2.5MM Term Loan |
||
| H2X Provider/Hydro-Excavation Services |
Cole Taylor Business Capital Lender |
7.3 | Revolver Consolidates debt, funds ongoing growth/Deal source: Alpine Pacific Capital |
||
| John B. Rudy Company Distributor/Wire |
Cable Products | Lawrence Financial Group Lender |
7.0 | Revolver Supports growth, expansion |
|
| Anka Behavioral Health Provider/Rehabilitation Services |
Gemino Healthcare Finance Lender |
7.0 | Revolver Pays off existing debt |
||
| Bayard Sales Distributor/Floor Coverings |
Keltic Financial Services Lender |
6.0 | Revolver |
||
| Stellar Pharmaceuticals Provider/Pharmaceuticals |
Midcap Financial Lender |
6.0 | Term Loan Three-year term/Supports growth of Canadian product line |
||
| iScience Interventional Provider/Medical Devices |
Square 1 Bank Lender |
5.0 | Revolver |
||
| SIS Provider/IT Solutions |
Services | Wells Fargo Capital Finance Lender |
5.0 | Revolver Supports growth |
|
| Cimarron Entertainment Group Operator/Entertainment Marketing Agency |
Lawrence Financial Group Lender |
5.0 | Revolver |
||
| Dedicated Media Provider/Customer Acquisition Platform |
Wells Fargo's Technology & Venture Banking Group Lender |
5.0 | Revolver Supports expansion |
||
| Energy Services International provider/Marine |
Drilling Systems Solutions | First Capital Lender |
4.8 | $4MM Revolver/$.75MM Term Loan |
|
| Femasys Manufacturer/Medical Devices |
GE Capital, Healthcare Financial Services Sole Lender, Admin Agent |
4.0 | Term Loan Supports new product development |
||
| Bright Harvest Sweet Potato Co Processor/Frozen Sweet Potato Products |
Cole Taylor Business Capital Lender |
3.5 | Revolver Finances growth |
||
| Global Information Technology Provider/Technology-Related Services |
TAB Bank Lender |
3.0 | Revolver |
||
| Brodkey Brothers Operator/Jewelry Store Chain |
Salus Capital Partners Lender |
3.0 | Revolver |
||
| USA Technologies Provider/Wireless Transactions |
Network Services | Avidbank Corporate Finance Lender |
3.0 | Revolver One-year term |
|
| J.J. Collins Manufacturer/Printed Materials |
TAB Bank Lender |
3.0 | Revolver Fordham Capital Partners of Chicago worked with TAB on the transaction |
||
| OraMetrix Provider/Orthodontic 3-D Technology Solutions |
Horizon Technology Finance Lender |
3.0 | Revolver Supports growth |
||
| Green Parts International Recycler/Automobiles |
Appliances | US Capital Partners Lender |
2.4 | Term Loan Refinance existing debt |
|
| Howard's Snacks Manufacturer/Pork |
Chicken Skins | Gerber Finance Admin Agent |
2.2 | Revolver Supports growth |
|
| AUXILIO Provider/Print Services |
Healthcare Industry | Avidbank Lender |
2.0 | Revolver |
|
| Fred Tebb & Sons Remanufacturer/Rough Cut Lumber |
TAB Bank Lender |
2.0 | Revolver |
||
| Empire Specialty Cheese Co Manufacturer/Premium Cheeses |
Gerber Finance Lender |
1.5 | Revolver Replaces bank, Supports growth/$1MM accordion feature |
||
| Divine Skin Developer/Personal Care Products |
MidCap Business Credit Lender |
1.5 | Revolver |
||
| CHDT Manufacturer/Specialty Power Failure Lighting Solutions |
Postal Capital Funding Lender |
1.0 | Revolver |
||
| Union Plaza Operator/Nursing Home Facility |
Sterling National Bank Lender |
1.0 | Revolver |