Deal Charts

ABL Deal Chart 2013 Q1

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/13 through 3/31/13.

BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
Abercrombie Textiles
Manufacturer/Upholstery Fabric
Keltic Financial Services
Lender
5.9 $4MM Revolver/$1.9MM Term Loan
Addison McKee
Manufacturer/Automotive Supplies
FirstMerit Bank Business Credit
Lender
6.7 Revolver
Refinances existing debt
Aderant Holdings
Provider/Legal Software
BMO Harris Bank
Jt Ld Arranger, Jt Bkrunner, Admin Agent
240.0 Revolver
Sponsor Finance group closed the deal/Supports equity investment by Madison Dearborn Partners
ADMA Biologics
Developer/Biotechnology
Hercules Technology Growth Capital
Lender
6.0 Term Loan
Advanced Environmental Recycling Technologies
Recycler/Polyethylene Plastic, Waste Wood Fiber
AloStar Business Credit
Lender
15.0 $8MM Revolver/$7MM Term Loan
Agile Therapeutics
Developer/Women's Healthcare Products
Oxford Finance
Lender
15.0 Term Loan
Funds product pipeline
Amedica Corporation
Manufactures/Spine, Orthopedic Implant Devices
GE Capital, Healthcare Financial Services
Admin Agent
21.5 Revolver
American Dairyco
Producer/Dairy Products
BMO Harris Bank
Lender
40.0 Revolver/Term Loan
Refinances existing deb, expansion
American Senior Living Communities
Operator/Senior Housing
Oxford Finance
Lender
20.0 $4MM Revolver, $16MM Term Loan
Refinances two skilled nursing facilities
API Technologies
Manufacturer/Defense, Aerospace, Commercial Electronic Systems
Guggenheim Corporate Funding
Admin Agent
165.0 Term Loan
Repays existing facility and debt/Supports refi costs
API Technologies
Manufacturer/Defense, Aerospace, Commercial Electronic Systems
Wells Fargo
Admin Agent
50.0 Revolver
Repays existing facility and debt/Supports refi costs
Armstrong World Industries
Manufacturer/Flooring, Ceilings, Cabinets
BofA Merrill Lynch, JP Morgan, Barclays
Co-Lenders
1275.0 $250MM Revolver/$575MM Term Loan
Five-year revolver/17-year term loan
Arrow Tru-Line Holdings
Manufacturer/Garage Door Parts
FirstMerit Bank Business Credit
Lender
18.4 Revolver
Refinances existing debt
ATS Workholding
Manufacturer/Automation Accessories
Cole Taylor Business Capital
Lender
5.5 Revolver
Refinances existing debt/Funds growth initiatives
Axiall
Manufacturer/Chemicals, Building Products
GE Capital, Corporate Finance
Admin Agent
500.0 Revolver
GE Capital Markets: Co-ld Arranger, jt bkrunner
BarrierSafe Solutions International
Manufacturer/Disposable Gloves
CIT Healthcare
Jt Ld Arranger, Admin Agent, Co-Bkrunner
199.0 Revolver
Funds recap in conjunction with its acquisition of ONGUARD Industries
BASF
Producer/Chemicals
Citigroup, ING, LBBW, Mizuho Financial
Arrangers
3000.0 Revolver
Replaces existing a credit line
BioClinica, CoreLab Partners
Providers/Clinical Trial Management Services
KeyBank, CIT Finance, U.S. Bank
Lead Arrangers, Joint Bookrunners
100.0 $25MM Revolver/$75MM Term Loan
Supports acquisition & merger by JLL Partners and Ampersand Capital Partners
Birch Communications
Provider/Communications, IT Services
CoBank
Syndicated Lender
12.0 Revolver
Funds accretive acquisitions
Blue Earth
Acquirer/Clean-Tech Companies, Technologies
TCA Global Credit Master Fund
Lender
10.0 Revolver
Breen Color Concentrates
Manufacturer/Plastic Industry Concentrates
TCF Capital Funding
Lender
10.5 Revolver
Supports recap
Brooklyn Hospital Center
Provider/Healthcare
GE Capital, Healthcare Financial Services
Admin Agent
45.0 Revolver
Refinances existing debt/GE Capital Markets: Sole Ld Arranger, Bkrunner
Buccaneer Energy
Developer/Oil, Gas Assets
Victory Park Capital
Lender
100.0 Revolver
Supports growth
Burns & Roe Group
Provider/Engineering Services
Capital Business Credit
Lender
10.0 Revolver
Supports growth
C.P. Converters
Manufacturer/Flexible packaging
BMO Harris Bank
Sole Ld Arranger, Sole Bkrunner, Admini Agent
37.0 Revolver
Supports control investment by First Atlantic Capital/Sponsor Finance Group closed the deal
Cell Therapeutics
Funds clinical development programs
Hercules Technology Growth Capital
Lender
15.0 Term Loan
Provider/Biopharmaceutical Development
Cinedigm Digital Cinema
Provider/Digital Entertainment, Deployment Services
Prospect Capital
Lender
70.0 Term Loan
Supports the recapitalization of subsidiaries
Cosby Oil Company
Distributor/Petroleum
TAB Bank
Lender
5.0 Term Loan
Crash Rescue Equipment Service
Remanufacturer/Fire, Rescue Trucks
First Capital
Lender
7.5 $6MM Revolver/$1.5MM Term Loan
Cypress Pharmaceuticals, Hawthorn Pharmaceuticals
Providers/Pharmaceutical Services
MidCap Financial
Lender
42.0 Revolver
Supports acquisition by Pernix Therapeutics Holdings
Dana Transport
Carrier/Transportation Services
CIT Capital Equipment Finance
Ld Arranger, Sole Bkrunner, Collateral Agent, Admin Agent
50.0 Term Loan
Diodes Incorporated
Manufacturer/Name Brand Semiconductor Components
Bank of America/Merrill Lynch
Admin Agent/Sole Ld Arranger, Sole Bkrunner
300.0 Revolver
Fiver-year term/Finances acquisition of BCD Semiconductor Manufacturing
Eagle One Golf
Manufactures/Golf Course, Tennis Courts, Resort Products
TAB Bank
Lender
2.5 Revolver
Early Autism Project
Provider/Special Education Schools, Programs
BMO Harris
Sole Ld Arranger, Sole Bkrunner, Admin Agent
21.0 Revolver
Supports acquisition by Educational Services of America/Sponsor Finance closed the deal
Emmis Communications
Producer/Media, Radio Broadcasting
J.P. Morgan Securities, GE Capital Markets
Jt Bkrunners, Jt Ld Arrangers
100.0 Revolver
Five-year term/JPMorgan Chase: Admin Agent, GE Capital: Syndication Agent/Fifth Third Bank: Doc Agent
Federal Signal
Provider/Environmental, Safety Solutions
Wells Fargo Bank/GE Capital, Corporate Finance
Admin Agent/Syndication Agent
225.0 Revolver
Five-year terms/Wells Fargo Securities, GE Capital Markets: jt ld arrangers, jt book managers
Fiksu
Developer/Mobile App Marketing Program
Bridge Bank
Lender
5.0 Revolver
Supports growth
Fletcher Leisure Group
Distributor/Sporting Goods
Salus Capital Partners
Lender
21.0 Revolver
Refinance existing debt/Currency in Canadian dollars
Focus Venture Partners
Provider/Staffing, Telecommunications Services
RedRidge Finance, Atalaya Capital Management
Co-Lenders
16.5 $8.5MM Revolver/$8MM Term Loan
Finances acqusistions
Forest City Enterprises
Provider/Real Estate Services
Key Bank/BofA
Admin Agent/Doc Agent
465.0 Revolver
Three-year term/PNC: syndication agent
Fresh Foods Concepts
Manufacturer, Distributor/Retail Fresh Foods
Cole Taylor Business Capital
Lender
5.0 Revolver
Refinances existing debt
Gardner Denver
Manufacturer/Industrial Compressors
KKR Corporate Lending, Barclays, Citigroup
Co-Lenders
3400.0 Revolvers/Term Loans
Deutsche Bank, RBC, UBS Securities, Mizuho Corp Bank: co-lenders
Garrison Investment Group
Investor/Mid Market, Asset-Based, Real Estate
CIT
Lender
35.7 Revolver
CIT Real Estate Finance: ld arranger/Financed by CIT Bank
Gartner Studios and Gartner Greetings
Provider/Special Occasion DIY Products
Cole Taylor Business Capital
Lender
22.0 Revolver
Refinances existing debt
Gasko Fabricated Products, Rhopac Fabricated Products
Manufacture/Non-Metallic Application Parts, Components
Cole Taylor Business Capital
Lender
4.7 Revolver
Supports acquisition by Lazarus Capital Partners
Genesis HealthCare
Provider/Skilled Nursing, Rehabilitation Care
GE Capital, Healthcare Financial Services
Admin Agent
725.0 $400MM Revolver/$325MM Term Loan
Supports acquisition of Sun Healthcare Group
Gullett and Associates
Provider/Pipeline Surveying
TCF Capital Funding
Lender
13.5 Revolver
Supports acquisition by Linx Partners
Halco Lighting Technologies
Supplier/Lamps
NXT Capital
Sole Ld Arranger, Sole Bkrunner and Admin Agent
21.5 Revolver
Funds recap by Lineage Capital
Heniff Transportation Systems
Provider/Liquid Bulk Chemicals
PNC Bank
Lender
30.0 Revolver
Finances growth/Refinances existing debt
hmv Canada
Retailer/Music, Entertainment
Wells Fargo Business Credit
Lender
25.0 Revolver
Three-year term
Hospice Compassus
Provider/Hospice Services
CIT
Lender
105.0 Revolver
Refinances senior and subordinated debt
Hospitalists Now
Provider/Hospital Management, Healthcare Services
Square 1 Bank
Lender
2.5 Revolver
Supports growth
Hunter's Specialties
Manufacturer/Non-Firearm Hunting Products
Salus Capital Partners
Lender
13.0 Revolver
Refinance existing debt
IGXGLOBAL
Provider/Information Technology
Keltic Financial Services
Lender
6.0 Revolver
Integra Partners
Provider/Orthotics, Prosthetics
Gemino Healthcare Finance
Lender
4.0 Revolver
Pays off existing debt
IZEA
Operator/Online Marketplaces
Bridge Bank
Lender
1.5 Revolver
JAB Wireless
Provider/Wireless Internet, VoIP Services
GE Capital
Admin Agent
140.0 Revolver
GE Capital Markets: ld arranger and admin agent
Kova International
Manufacturer/In-Vitro Diagnostic Products
Abacus Finance
Admin Agent, Sole Ld Arranger
16.5 Revolver
Supports carve-out from Hycor Biomedical by investor group
Kraton Performance Polymers
Producer/Engineered Polymers
Bank of America
Admin Agent, Col Agent, Security Trustee
250.0 US$150MM Revolver/non-US$100MM Revolver
Merrill Lynch, J.P. Morgan, WFCF/JPMorgan, Wells Fargo/Barclays Bank: jt ld arrangers, jt book managers/co-syndication agents/doc agent
Latisys
Provider/Infrastructure as a Service Solutions
RBC Capital Markets
Co-Lender
200.0 $20MM Revolver/$180MM Term Loan
TD Securities, SunTrust Robinson Humphrey: co-lenders/Revolver is a five-year term/Term Loan is a six-year term
Lee Masonry Products
Manufacturer/Masonry Products
First Capital
Lender
16.6 $12MM Revolver/$4.6MM Term Loan
Collateralized by A/R, inventory, machinery & real estate
Loadcraft Industries
Manufacturer/Oilfield Related Equipment
Marquette Business Credit
Lender
9.0 $6MM Revolver/$3MM Term Loan
Magnetation
Provider/Iron Ore Concentrate Reclamation
JPMorgan/J.P. Morgan Securities
Admin Agent/Sole Ld Arranger, Bookrunner
110.0 $25MM Revolver/$50MM Term Loan A/$35MM Delayed Draw Term Loan
Associated Bank, BMO Harris: co-syndication agents/Supports growth
Master Tile Network
Distributor/Pool Tiles
First Capital
Lender
3.0 Revolver
Mitel
Provider/Cloud Communications Solutions
BofA Merrill Lynch, RBC Capital Markets, MerchCap Solutions
Jt Ld Arrangers, Jt Bkrunners
320.0 Revolver
Refinances, repays existing facilities
MoneyGram International
Provider/Payment Services
BofA Merrill Lynch, Wells Fargo Securities
Jt Ld Arrangers
975.0 $124MM Revolver/$850MM Term Loan
J.P. Morgan, Deutsche Bank Securities, Credit Agricole: jt bookrunners
Multibank
Provider/Technology Services
Fifth Third Bank
Lender
30.0 $10MM Revolver/$20MM Term Loan
Three-year term/Replaces a DirecTECH Holding Company note & other debt
National Financial Partners
Provider/Benefits, Insurance, Wealth Management Services
Bank of America
Admin Agent
325.0 Revolver
Five-year term/Refinances existing facility
National Label Company
Producer/Labeling Solutions
LBC Credit Partners
Sole Ld Arranger, Sole Bkrunner, Admin Agent
40.5 Revolver
Refinances existing debt/Supports growth
National Pain Institute
Provider/Pain Management Services
BMO Harris
Jt Ld Arranger, Sole Bkrunner, Admin Agent
50.0 Revolver
Supports acquisition by Prospira PainCare/Sponsor Finance group closed the deal
National Pain Institute
Provider/Pain Management Services
LBC Credit Partners
Jt Ld Arranger, Syndication Agent
50.0 Revolver
Supports acquisition by Prospira Pain Care
Northern Reflections
Retailer/Apparel
Salus Capital Partners
Lender
6.0 Revolver
Currency is in Canadian dollars
NSi Industries
Designer, Manufacturer/Electrical Connectors, Wire Management Products
NXT Capital
Sole Ld Arranger, Sole Bkrunner, Admin Agent
32.0 Revolver
Funds recapitalization by Summit Park
OCZ Technology Group
Manufacturer/Storage Solutions, Premium Computer Components
Hercules Technology Growth Capital
Lender
30.0 $15MM Revolver/$15MM Term Loan
Includes warrants to purchase OCZ shares
OpenTable
Provider/Online Restaurant Reservations
Wells Fargo
Lender
50.0 Revolver
Three-year term
Orbitz Worldwide
Provider/Online Travel Products, Services
Credit Suisse AG
Admin Agent, Collateral Agent, L/C Issuer, Swing Line Lender
515.0 $65MM Revolver/$150MM Term Loan/$300MM Tranche C Term Loan
Debt refi;4-yr term: Revolver/Term Loan B; 6-yr term: Term Loan C
Origin Point Brands
Designer, Distributor/Home Improvement Products
FirstMerit Bank Business Credit
Lender
10.0 Revolver
Refinances existing debt
OrthoNet Holdings
Provider/Orthopedic Benefits
BMO Harris Bank
Sole Ld Arranger, Sole Bkrunner, Admin Agent
55.0 Revolver
Sponsor Finance group closed the deal
OttLite Technologies
Designer, Marketer/Natural Daylight Products
Marquette Business Credit
Lender
7.5 $7MM Revolver/$500,000 Term Loan
Pacific Drilling
Contractor/ultra-Deepwater Drilling
Citibank, DNB
Lenders
1000.0 Revolver
Finances construction of two drillships
Park Electrochemical
Manufacturer/Advanced Materials
PNC Bank
Lender
52.0 Revolver
Five-year term
Peninsula Packaging
Provider/Polyethylene Terephthalate Thermoformed Containers
BMO Harris Bank
Jt Ld Arranger, Jt Bkrunner, Admin Agent
126.0 Revolver
Sponsor Finance group closed the deal
Petrowest Corporation
Provider/Energy Services
GE Capital Canada
Lender
50.0 Revolver
Currency in Canadian dollars/Repays USD credit facility
Premier Research
Provider/Contract Research
Healthcare Finance Group
Lender
15.0 Revolver
Supports growth
Prince Minerals
Processor/Mineral Products, Additives
BMO Harris
Admin Agent
50.0 Revolver
ABL group closed the deal
Principal Manufacturing Corporation
Manufacturer/Engineered Auto, Industry Solutions
AloStar Business Credit
Lender
17.4 $11MM Revolver/$6.35 Term Loan
Protonex Technology
Provider/Advanced Lightweight Military Power Systems
WindSail Capital
Lender
2.0 Revolver
Supports sales channel expansion
PVH
Designer, Marketer/Apparel
Barclays Bank/BofA Merrill Lynch, Citigroup Global Markets
Admin Agent, Collateral Agent/Jt Ld Arrangers
3825.0 $750MM Revolver/$3.075B Term Loan
Supports Warnaco Group acquisition/Barclays, Merrill, Citigroup Global, Credit Suisse Securities, RBC: jt ld bkrunners
Quantum Foods
Provider/Protein Products
Crystal Financial
Lender
80.0 Revolver
Five-year term/Repays existing indebtedness
ROM Corporation
Manufacture/Niche Products
NXT Capital
Sole Ld Arranger, Sole Bkrunner and Admin Agent
63.3 Revolver
Supports recapitalization
Rubicon Technology
Provider/Electronic Materials
Silicon Valley Bank
Lender
25.0 Revolver
Three-year term
SIGA Technologies
Developer/Pharmaceuticals
GE Capital, Healthcare Financial Services
Sole Lender, Admin Agent
12.0 $7MM Revolver/$5MM Term Loan
Social Finance
Provider/Private Student Lender Services
Morgan Stanley
Lender
60.0 Revolver
Expands community-based lending model
Southeastern Aluminum Products
Manufacturer/Bath Enclosures, Shower Doors
AloStar Business Credit
Lender
7.1 $5MM Revolver/$2.1MM Term Loan
Stitch Labs
Provider/Inventory Management
Square 1 Bank
Lender
1.4 Term Loan
Supports growth
Summer Infant
Provider/Juvenile Products
Bank of America/Salus Capital Partners
Lender/Admin Agent, Collateral Agent
95.0 $80MM Revolver/$15MM Term Loan
BofA provided the revolver/Salus provided the term loan/Five-year terms
SUPERVALU
Operator/Grocery Store Chains
Wells Fargo Capital Finance/Wells Fargo Bank
Ld Lender/Admin Agent, Left Ld arranger, Bkrunner
1000.0 Revolver
Supports sale of grocery store chains
SUPERVALU
Operator/Grocery Store Chains
Wells Fargo
Lender
900.0 Revolver
Supports sale of five retail grocery banners/Replaces existing facilities
Support Services of America
Provider/Janitorial, Facilities Maintenance Services
Marquette Business Credit
Lender
8.0 Revolver
Supports growth
Sysorex Global Holders
Provider/IT Solutions
Business Capital
Lender
5.0 Revolver
Supports acquisition of Lilien
Team Express Distributing
Retailer/Athletic goods & equipment
Cole Taylor Business Capital
Lender
8.0 Revolver
Refinances existing debt
Tenere
Designer/Metal, Plastic Components
Cole Taylor Business Credit
Lender
10.0 Revolver
Supports acquisition by Watermill Group
The Bradshaw Group
Distributor/Laser Printers, Parts, Supplies
Triumph Commercial Finance
Lender
2.5 Revolver
Three-year term/Replaces existing revolver
Total Hockey
Retailer/Hockey Equipment
Salus Capital Partners
Lender
3.0 Term Loan
Transgenomic
Provider/Biotechnology Company Services
Third Security
Lender
8.0 $4MM Revolver/$4MM Term Loan
Refinances outstanding debt
Tri-Tech Infrastructure
Provider/Physical Tech Infrastructure
BMO Harris
Lender
3.5 Revolver
Supports export-import working capital/Partially guaranteed by Ex-Im Bank
Tronox
Producer/Titanium Mineral Sands, Dioxide Pigment
Goldman Sachs, UBS, Credit Suisse, RBC Capital Markets
Lenders
1300.0 Term Loan
Tronox Limited
Producer/Titanium Mineral Sands, Dioxide Pigment
Goldman, UBS Sec, Credit Suisse Sec, RBC Capital Mkts
Jt Ld Arrangers, Jt Bkrunners, Co-Syndication Agents
1500.0 Term Loan
17-year term/Refinances existing facility
TYRX, Inc.
Manufacturer/Implantable Medical Devices
GE Capital, Healthcare Financial Services
Admin Agent
8.5 $1.5MM Revolver/$7MM Term Loan
Refinances existing debt
United Leasing
Provider/Leasing, Financial Services
JPMorgan Chase
Lender
195.0 Revolver
Has accordion to $300 million/US Bank, BofA, BB&T, Fifth Third, Northern Trust and Huntington National Bank participated
Valent Aerostructures
Provider/Aerospace Structural Components, Parts
Royal Bank
Lender
300.0 Revolver
RBC Capital Markets arranged the deal/Supports acquisition by LMI Aerospace
Valley Oil Company
Supplier/Fuel
First Capital
Lender
6.8 $6.5MM Revolver/$300,000 Term Loan
Veridiam
Manufacturer/Fabricated Metal Components
Cole Taylor Business Capital
Lender
19.6 Revolver
Refinances existing debt
Vinum Wine Importing and Distributing
Distributor/Spirits, Wine
NewStar Business Credit
Lender
5.0 Revolver
W Diamond Group Corporation
Manufacturer/Men's Tailored Clothing
Salus Capital Partners
Lender
35.0 Revolver
Wellborn Forest Products
Designer/Semi-Custom Hardwood Cabinets
FirstMerit Bank Business Credit
Lender
8.8 Revolver
Refinances existing debt
Western Shelter Systems
Manufacturer/Reusable Temporary Shelters
Cole Taylor Business Capital
Lender
5.9 Revolver
Supports acquisition by Gorge Holdings
Westlake Hardware
Retailer/Hardware
U.S. Bank Asset Based Finance
Lender
60.0 Revolver
Supports acquisition by Ace Hardware
Wilcox Paper
Distributor/Paper, Paperboard Products
Cole Taylor Business Capital
Lender
5.0 Revolver
Refinances existing debt
Work N' Gear
Retail/Healthcare, Industrial Apparel Chain
Salus Capital Partners
Lender
10.0 Revolver
Refinances existing debt
Yates Corner
Provider/Automotive Services
Capital One Bank
Lender
8.0 Revolver
Supports construction of mixed-use commercial property