Deal Charts

ABL Deal Chart 2012 Q3

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/12 through 9/30/12.

BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
SUPERVALU
Operator/Grocery Chain
Wells Fargo Capital Finance
Left Ld Arranger/Admin Agent
1650.0 Revolver
Five-year term/Retail Finance underwrote deal/Credit Suisse, Barclays arranged $850MM term loan
SUPERVALU
Retailer/Grocery, Pharmacy Chain
GE Capital, Corporate Retail Finance
Co-Collateral Agent
1650.0 Revolver
GE Capital Markets: Jt ld arranger, jt bkrunner/Refinances existing debt
H&R Block
Provider/Tax Services
JPMorgan Chase
Admin Agent
1500.0 Revolver
Five-year term
Flowserve
Provider/Flow Control Products, Services
Bank of America Merrill Lynch
Lead Lender
1250.0 $85MM Revolver/$400MM Term Loan
Five-year term/Replaces existing facility
Tyson Foods
Processor/Chicken, Beef, Pork
JPMorgan Chase
Admin Agent
1000.0 Revolver
Five-year term
West Corporation
Provider/Communication Services
Wells Fargo
Admin Agent
970.0 Term Loan
Six-year term/Deutsche, Goldman Sachs, Morgan Stanley, BofA Merrill Lynch, others: Jt ld arrangers, jt bkrunners
Lionsgate
Operator/Entertainment Company
JPMorgan Chase Bank
Admin Agent
800.0 Revolver
Five-year term/JP Morgan Sec, Barclays. Merrill Lynch, RBC: Co-syn agents, jt bkrunners, jt ld arrangers
Equinix
Provider/Data Center Services
Bank of America/Wells Fargo Bank
Admin Agent/Syn Agent
750.0 $550MM Revolver/$200MM Term Loan
Five-year term/Barclays, Deutsche, HSBC, others: Co-doc agents/Merrill Lynch: Sole ld arranger, bk mgr
Zale Corporation
Retailer/Jewelry
Bank of America
Admin Agent
665.0 $650MM Revolver/$15MM FILO Facility
Wells Fargo Bank, J.P. Morgan Securities: Co-syn agents
Hillenbrand
Provider/B2B Products, Services
JPMorgan Securities, RBS Citizens
Jt Bookrunners, Jt Ld Arrangers
600.0 Revolver
Five-year term
Textainer
Lessor/Intermodal Containers
Merrill Lynch, Wells Fargo Securities
Lead Lenders
600.0 Revolver
Five-year term/Bank of America: Admin agent
Curtiss-Wright
Provider/Engineered Products
Merrill Lynch, J.P. Morgan Securities, Wells Fargo Securities
Joint Lead Arrangers
500.0 Revolver
Five-year term/Replaces existing lines of credit/BofA: Admin agent/JPMorgan Chase, Wells Fargo: Syn agents
Henry Schein
Provider/Healthcare Products
J.P. Morgan Securities
Sole Bkrunner, Jt Ld Arranger
500.0 Revolver
HSBC Bank USA: Jt ld arranger
Waupaca Foundry Holdings
Operator/Iron Foundry
GE Capital, Corporate Finance
Admin Agent
485.0 Revolver
Supports ThyssenKrupp Waupaca acquisition by KPS Cap Partners/GE Cap Mkts: Co-ld arranger, jt bkrunner
The Pantry
Operator/Convenience Store Chain
Wells Fargo
Admin Agent
480.0 $225MM Revolver/$255MM Term Loan
Revolver: Five-year term/Term loan: Seven-year term
G-III Apparel Group
Manufacturer/Women's Apparel, Accessories
JPMorgan Chase
Lead Lender
450.0 Revolver
Five-year term/BofA, HSBC Bank USA, Wells Fargo: Co-syn agents/Supports Vilebrequin acquisition
Tank Holdings
Manufacturer/Polyethylene, Steel Storage Tanks
GE Antares
Admin Agent
405.0 Revolver
Supports acquisition by Leonard Green/GE Cap Mks: Ld left arranger, jt bkrunner
Essar Steel Algoma
Manufacturer/Rolled Steel Products
Deutsche Bank Securities
Sole Ld Arranger, Sole Bookrunning Manager
350.0 Term Loan
Two-year term
Essar Steel Algoma
Manufacturer/Rolled Steel Products
Deutsche Bank Securities
Sole Ld Arranger
350.0 Term Loan
Two-year term
CDC Software
Provider/Software
BMO Harris Bank Sponsor Finance
Jt Ld Arranger, Admin Agent
260.0 Revolver
Supports acquisition of Consona
Furniture Brands
Provider/Home Furnishings
GE Capital, Bank of America, Wells Fargo
Jt Ld Arrangers
250.0 $200MM Revolver/$50MM Term Loan
Five-year term/Pathlight Capital: Admin, collateral agent on term loan
Barneys New York
Retailer/Men's, Women's Fashions
Wells Fargo Capital Finance
Lender
200.0 Revolver
Five-year term/Supports company recap
Carriage Services
Provider/Death Care Services
Bank of America/Merrill Lynch
Admin Agent/Sole Ld Arranger, Sole Book Manager
200.0 $70MM Revolver/$130MM Term Loan
Five-year term
Healthcare Benefit Solutions (n/k/a Alegeus Technologies)
Provider/Benefits Administration, Payment Processing
BMO Harris Bank
Jt Ld Arranger, Jt Bkrunner, Admin Agent
187.0 Revolver
Supports acquisition by Lightyear Fund III/Sponsor finance group completed deal
MegaPath
Provider/Bundled Managed Services
Crystal Financial
Co-Arranger
165.0 Term Loan
Refinances existing debt
Midwest Dental
Provider/Dental Services
Ares Capital
Admin Agent
151.0 Revolver
Supports recap
Prime Healthcare Services
Operator/Acute Care Hospital Group
Healthcare Finance Group
Collateral Manager, Swingline Lender, Admin Agent
150.0 Revolver
Acted as sole ld arranger through HFG Healthco Securities
Henry Company
Manufacturer/Roofing, Building Envelope Products
GE Antares
Admin Agent
150.0 Revolver
Supports acquisition led by Graham Partners/GE Capital Mkts: Sole ld arranger, bkrunner
Golfsmith
Retailer/Golf Products
GE Capital
Admin Agent
150.0 Revolver
Support combination of Golf Town, Golfsmith/GE Capital Markets: Ld arranger, bkrunner
CiG Wireless
Operator/Wireless Communications Infrastructure
Macquarie Bank
Lender
150.0 Term Loan
Macquarie Infrastructure Company
Operator/Infrastructure Businesses
Wells Fargo
Lead Arranger
140.0 $60MM Revolver/$80MM Term Loan
Five-year term/Refinances existing debt
Fortegra Financial
Provider/Insurance Services
Wells Fargo
Admin Agent, Sole Bookrunner, Jt Ld Arranger
125.0 $75MM Revolver/$50MM Term Loan
Five-year term/Synovus Bank: Jt ld arranger, syn agent
Consolidated Container Company
Manufacturer/Plastic Packaging Solutions
Bank of America Business Capital
Arranger, Agent
125.0 Revolver
Supports acquisition by Bain Capital Partners affiliates
USA Truck
Operator/Dry Van Truckload Carrier
Well Fargo Capital Finance/PNC Bank
Admin Agent/Syn Agent
125.0 Revolver
Five-year term
Bushnell
Provider/Sports Optics
Ares Capital
Lender
108.0 Revolver
Supports acquisition of Primos
New Century Transportation
Provider/Transportation, Logistics
Capital One Leverage Finance, Prospect Capital
Lenders
104.0 Revolver
Supports refinancing
Affymetrix
Manufacturer/Genotyping Tools
GE Capital, Healthcare Financial
Admin Agent
100.0 $15MM Revolver/$85MM Term Loan
Supports acquisition of eBioscience/GE Capital Markets: Jt ld arranger, jt bkrunner
CapLease
Owns/Commercial Real Estate Properties
Wells Fargo
Lender
100.0 Revolver
Three-year term
RadioShack
Retailer/Mobile Technology Products
Wells Fargo Capital Finance
Lender
100.0 Term Loan
Five-year term
Birch Communications
Provider/Communications, IT Services
Bank of America Merrill Lynch, PNC Bank
Lenders
90.0 $35MM Revolver/$40MM Term Loan
Anderson Mezzanine Partners provided subordinated debt
Kele
Supplier/Peripheral Control Products
GE Antares
Admin Agent
85.0 Revolver
GE Capital Markets: Sole ld arranger, bookrunner/Supports recap
TeleCommunication Systems
Provider/Mobile Communication Technology
Silicon Valley Bank, M&T Bank, GE Capital Bank
Lenders
80.0 $35MM Revolver/$45MM Term Loan
Supports microDATA GIS acquisition
U.S. Concrete
Provider/Concrete
Bank of America
Agent, Sole Ld Arranger
80.0 Revolver
Three-year term
Virginia College
Provider/Post-Secondary Education
BMO Harris Bank Sponsor Finance
Jt Ld Arranger, Jt Bookrunner, Doc Agent, Admin Agent
75.0 Revolver
Supports acquisition of New England College of Business and Finance
Cervalis
Provider/IT Solutions
CapitalSource
Lender
75.0 $25MM Revolver/$50MM Term Loans
Acme Lift Company
Provider/Rental Equipment
GE Capital
Admin Agent
75.0 Revolver
GE Capital Markets: Sole bkrunner/Refinances existing debt/Supports growth
QualaWash Holdings
Provider/Industrial Cleaning, Maintenance, Repair Services
BMO Harris Bank's Sponsor Finance
Jt Ld Arranger, Jt Bookrunner, Admin Agent
73.0 Revolver
Supports acquisition by Roark Capital Group affiliate
PRV Aerospace
Manufacturer/Flight Critical Components
Ares Capital
Admin Agent, Sole Ld Arranger
70.0 Term Loan
Supports acquisition by Court Square Capital Partners
Berry Nurseries
Supplier/Plants, Shrubs
PNC
Admin Agent
70.0 Revolver
Refinances existing debt
Coldwater Creek
Retailer/Women's Apparel, Accessories
Golden Gate Capital
Lender
65.0 Term Loan
Five-year term/Also amended four-year $70MM revolver with WFCF
Quadion
Manufacturer/Rubber, Thermoplastic Components
BMO Harris Bank
Jt Ld Arranger, Jt Bookrunner, Admin Agent
65.0 Revolver
Support acquisition by Norwest Equity Partners/Sponsor Finance group closed the deal
Metaris Hydraulics
Supplier/Aftermarket Transmission Components
NXT Capital
Ld Arranger, Admin Agent
61.0 Revolver
Supports acquisition by Hydraulex Global, a Stonebrige Partners company
Diplomat Pharmacy
Provider/Medication Management Programs
GE Capital, Healthcare Financial Services
Admin Agent
60.0 Revolver
GE Capital Markets: Sole ld arranger, sole bkrunner
Milacron
Provider/Plastics Processing, Metalworking Fluids
Bank of America Business Capital
Lender
60.0 Revolver
Supports acquisition by CCMP Capital Advisors
New Century Transportation
Provider/Transportation, Logistics
Capital One Bank
Ld Arranger, Admin, Collateral Agent
60.0 Revolving Credit Line/Term Loan
Five-year term/Refinances existing debt
OakRiver Technology
Designer/Automation, Materials Handling Equipment
BMO Harris Bank's Sponsor Finance
Jt Ld Arranger, Jt Bookrunner, Admin Agent
59.0 Revolver
Support acquisition by PaR Systems, MML Capital Partners
Focus Products Group
Distributor/Kitchen, Food Service, Bath Products
LBC Credit Partners
Agent, Sole Bookrunner
53.8 Term Loan
Supports purchase by Centre Lane Partner
WatchGuard Technologies
Provider/Business Security Solutions
BMO Harris Bank Sponsor Finance
Jt Ld Arranger, Jt Bookrunner, Doc Agent, Admin Agent
51.0 Revolver
Supports recap
Christopher & Banks
Retailer/Women’s Apparel
Wells Fargo Capital Finance
Lender
50.0 Revolver
Five-year term
Quorum Business Solutions
Provider/Software Solutions
Silicon Valley Bank, Capital One Bank
Co-Lead Lenders
49.0 Revolver
Refinances debt
Home Products International
Provider/Storage, Organization Products
BMO Harris Bank's Corporate Finance
Admin Agent
47.0 Revolver
Press Ganey Associates
Provider/Healthcare Performance Improvement
Ares Capital
Lender
45.0 Term Loan
Supports refinancing
Compass Datacenters
Operator/Standalone Data Centers
KeyBank
Lender
45.0 Revolver
Supports growth
Caregiver Services
Operator/Nurse Registry
Healthcare Finance Group
Underwriter, Agent
44.0 $10MM Revolver/$34MM Term Loan
Sole ld arranger on term loan
Harris & Ford
Distributor/Chemicals, Ingredients
BMO Harris Bank Asset Based Lending
Admin Agent
40.0 Revolver
Albert Tire Company
Distributor/Tires
TD Bank
Lender
39.0 $35MM Revolver and a $4MM Term Loan
Supports acquisition by Bennett Capital Partners/ABL Group completed the deal
High Performance Industries (d/b/a Holley)
Manufacturer/Automotive Aftermarket Products
LBC Credit Partners
Lender
37.5 Term Loan
Supports purchase by Monomoy Capital Partners affiliate
Westgate Resorts
Operator/Timeshare Company
Capital One Bank
Lender
35.0 Revolver
Four-year term
Coach America Holdings
Provider/Transportation Logistics Solutions
Crystal Financial
Lender
33.0 $10MM Revolver/$23MM Term Loan
Supports acquisition of some assets, ops by Transportation Management Svs
Dexter Magnetic Technologies
Provider/Magnetic Solutions
BMO Harris Bank Sponsor Finance
Sole Ld Arranger, Sole Bookrunner, Admin Agent
32.0 Revolver
Integrated Electrical Services
Provider/Infrastructure Services
Wells Fargo Capital Finance
Lender
30.0 Revolver
Three-year term
Blackhawk Specialty Tools
Provider/Automated Top Drive Cement Heads
Regions Bank
Lender
30.0 Revolver
China Pearl
Provider/Pearls catalog
Salus Capital Partners
Lender
30.0 Revolver
Peregrine Pharmaceuticals
Provider/Biopharmaceuticals
Oxford Finance
Lead Lender
30.0 Term Loan
MidCap Financial, Silicon Valley Bank participated
TekLinks
Provider/IT Solutions, Services
CapitalSource
Admin Agent, Co-Ld Arranger
30.0 Revolver
Supports investment by Pamlico Capital
Ciena Healthcare
Provider/Skilled Nursing, Rehab Facilities
Capital One Bank
Lender
29.0 Term Loan
Five-year term/Refinances three skilled nursing facilities
Cooley Group
Manufacturer/Engineered Membranes
Webster Business Credit
Lender
25.0 Revolver
Five-year term/Also includes long-term note, CAPEX line
Welk Resorts
Operator/Vacation Home Properties
Capital One Bank
Lender
25.0 Revolver
Greenscapes Home and Garden Products
Manufacturer/Home, Garden Products
Cole Taylor Business Capital
Lender
25.0 Revolver
Refinances existing debt
Resverlogix
Operator/Cardiovascular Company
Citibank
Lender
25.0 Term Loan
Five-year term/Supports research, development
Z-Medica
Developer/Hemostatic Agents
Abacus Finance Group
Admin Agent, Sole Ld Arranger
25.0 Revolver
Supports buyout by DW Healthcare Partners/Zions Bank participated
NAPCO Security Technologies
Supplier/Electronic Security Equipment
HSBC Bank USA
Lender
23.0 $11MM Revolver/Term Loan
Five-year term
Truck Bodies and Equipment International
Manufacturer/Truck, Trailer Equipment, Products
FirstMerit Bank Business Credit
Lender
23.0 Revolver/Term Loan
Refinances existing debt
All Metro Health Care Services
Provider/Home Care Services
Healthcare Finance Group
Lender
23.0 $10MM Revolver/$13MM Term Loan
Refinances certain indebtedness
Insmed
Developer/Inhaled Therapeutics
Hercules Technology Growth Capital
Lender
20.0 Term Loan
Westmoreland Coal Company
Provider/Coal
The PrivateBank and Trust Company
Lender
20.0 Revolver
Five-year term
Sea-Land Chemical Co.
Distributor/Specialty Chemicals
FirstMerit Bank Business Credit
Lender
20.0 Revolver
Refinances existing debt
Calderon Textiles
Distributor/Textile Products
BMO Harris Bank Asset Based Lending
Sole Lender
20.0 Revolver
Broadwind Energy
Provider/Integrated Solutions
AloStar Business Credit
Lender
20.0 Revolver
Three-year term/Refinance two existing facilities/Roswell Capital Securities: Agent
ENT and Allergy Associates
Provider/ENT, Allergy, Audiology Care
M&T Bank
Lender
20.0 Credit Line/Term Loan
Supports growth
Transcat
Distributor/Test, Measurement Instruments
M&T Bank
Lender
20.0 Revolver
Three-year term
Streamline Health Solutions
Provider/Content Mgmt, Business Analytics
Fifth Third Bank
Lender
19.0 $5MM Revolver/$14MM Term Loans
Supports acquisition of Meta Health Technology
Karmaloop
Retailer/Apparel
Comvest Group
Lender
19.0 Term Loan
Refinances existing debt
Vertex Energy
Provider/Distressed Petroleum Streams
Bank of America
Lender
18.5 $10MM Revolver/$8.5MM Term Loan
Supports acquisition of Vertex Holdings
Hamilton Acquisition
Provider/Engineering, Consulting Services
Capital One Bank
Lender
18.0 Revolver
Three-year term
TEAM Oil Tools
Manufacturer/Down Hole Tools
Capital One Bank
Lender
15.0 Revolver
Four-year term/Refinances existing debt
Coronado Biosciences
Developer/Immunotherapy Biologic Agents
Hercules Technology Growth Capital
Lender
15.0 Revolver
Three-and-a-half-year term
Asure Software
Provider/Workplace Management Software
Monroe Credit Advisors
Lender
14.5 Term Loan
Supports acquisition of PeopleCube
California TrusFrame
Manufacturer/Trusses, Wall Panels
First Capital
Lender
12.8 $11MM Revolver/$1.75MM Term Loan
Brodart Co.
Supplier/Books, Library Supplies
Huntington Bank Asset Based Lending
Lender
12.5 Revolver
Replaces existing financing
Mercury Plastics
Manufacturer/Flexible Packaging Film
NewStar Business Credit
Lender
12.5 Revolver/ Term Loan
Supports growth
Fastener Distribution and Marketing Company
Distributors/Specialty, Commodity Fasteners
NewStar Business Credit
Lender
12.5 Revolving Credit Line/Term Loan
Supports acquisition of Precision Aerospace Components
Restora Healthcare Holdings
Operator/Acute Care Hospital Company
Healthcare Finance Group
Lender
12.0 $7MM Revolver/$5MM Term Loan
Supports acquisition Trillium
Integrated BioPharma
Manufacturer/Vitamins, Nutritional, Herbal Products
PNC Bank
Lender
11.7 $8MM Revolver/$3.7MM Term Loan
Five-year term
Advanced Rehabilitation and Healthcare
Operator/Skilled Nursing Facility
Capital One Bank
Lender
11.5 Term Loan
Five-year term/Refinances construction loan
Celsion
Developer/Oncology Drugs
Oxford Finance/Horizon Technology Finance
Lead Lender/Lender
10.0 Revolver
Mattersight
Provider/Enterprise Analytics
Silicon Valley Bank
Lender
10.0 Revolver
Two-year term/Terminates previous $5MM agreement with BofA
Nest Collective
Manufacturer/Organic Foods for Children
NewStar Business Credit
Lender
10.0 Revolver
Supports growth
ALG Worldwide Logistics
Provider/Supply Chain, Information Management
Cole Taylor Business Capital
Lender
10.0 Revolver
Refinances existing debt
Hawaiian Falls Waterparks
Operator/Water Parks
Capital One Bank
Lender
9.2 Revolver
Seven-year term/Refinances existing debt
Triton Systems
Provider/ATMs
Capital One
Lender
8.5 Revolver
Four-year term
Anpesil
Wholesaler/Candy, Cookies, Groceries
First Capital
Lender
8.5 Revolver
Trimel Pharmaceuticals
Developer/Female Sexual Health Medications
GE Capital, Healthcare Financial Services
Agent
7.5 Revolver
Trimel Pharmaceuticals
Provider/Specialty Pharmaceuticals
GE Capital, Healthcare Financial Services
Sole Lender, Admin Agent
7.5 Term Loan
Twin City Bagel
Producer/Bagels
Cole Taylor Business Capital
Lender
7.5 Revolver
d/b/a National Choice Bakery/Refinances existing debt
Phoenix Footware Group
Manufacturer/Footware
AloStar Business Credit
Lender
7.3 $7MM Revolver/$.25MM Term Loan
Ozarks Community Hospital
Operator/Healthcare System
Gemino Healthcare Finance
Lender
7.0 Revolver
Pays off existing debt
Latitude Global
Operator/Entertainment Venues
Fifth Third Bancorp
Lender
6.4 Revolver
LTI Trucking Services
Provider/Transportation Services
TAB Bank
Lender
6.0 Revolver
CAS Medical Systems
Manufacturer/Medical Devices
East West Bank
Lender
6.0 $2.5MM Revolver/$3.5MM Term Loan
Two-and-a-half-year revolver/three-year term loan
Intela
Provider/Performance Marketing, Consumer Data
Bridge Bank Technology Banking Division
Lender
6.0 Revolver/Term Loan
Central Fiber Holdings
Manufacturer, Cellulose Fiber-Made Products
Marquette Business Credit
Lender
5.7 Revolver/Term Loan
Warner Robins Supply
Retailer/Building Materials
AloStar Business Credit
Lender
5.0 Revolver
Morris Bank provided separate credit line
Vinylex Corporation
Manufacturer/Custom Plastic Extrusions
Marquette Business Credit
Lender
5.0 $3.75MM Revolver/$1.25MM Term Loan
Triangle Capital Access assisted in the deal
Compex Legal Services
Provider/Online Document Management, Retrieval Services
Lawrence Financial Group
Lender
5.0 Revolver
Rainmaker Systems
Provider/B2B E-Commerce Solutions
Comerica Bank
Lender
5.0 $2MM Revolver/$3MM Term Loan
Point.360
Provider/Media Management Services
Bank of the West
Lender
5.0 Revolver
Two-year term/Also includes $1.25MM equipment lease facility
Global Granite & Marble
Supplier/Natural Stone
First Capital
Lender
4.0 Revolving Credit Line
Horoscope.com
Provider/Readings
Avidbank Corporate Finance
Lender
3.5 Term Loan
Supports growth
USA Technologies
Provider/Wireless Cash Transactions
Avidbank Corporate Finance
Lender
3.0 Revolver
Dollar Only Wholesale
Distributor/Food, Snacks
TAB Bank
Lender
3.0 Revolver
Accommodation Mollen
Distributor/Cleaning, Safety Supplies
TAB Bank
Lender
3.0 Revolver
Snap MyLife
Developer/Cloud-Service Mobile Applications
Silicon Valley Bank
Lender
3.0 Term Loan
Supports growth
IGI Laboratories
Manufacturer/Topical Formulations
Square 1 Bank
Lender
3.0 $1.25MM Credit Line/$2.5MM Term Loan
Refinances existing facility with Amzak Capital Management
California Offset Printers
Manufacturer/Media Production
Marquette Business Credit
Lender
2.5 Revolver
Mesa Pharmacy
Provider/Pain Management, Hormone Therapy Compounds
US Capital Partners
Lender
2.0 Revolver
Freedom Meditech
Provider/Medical Devices
Silicon Valley Bank
Lender
2.0 Revolver
Sasco Safety
Manufacturer/Highway Safety Products
Keltic Financial Services
Lender
1.8 $1.5MM Revolver/$.25MM Term Loan
Silipos
Manufacturer/Mineral Oil Technologies
TAB Bank
Lender
1.5 Revolver
YogaWorks
Operator/Health Fitness Centers Chain
Avidbank Corporate Finance
Lender
1.5 Term Loan
Supports growth
Dakota Craft
Supplier/Lumber, Building Materials
Keltic Financial Services
Lender
1.5 Revolver
Saksoft
Provider/Information Management Solutions
TAB Bank
Lender
1.0 Revolver