Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/1/07 through 12/31/07.
LENDER(S) & ROLE | BORROWER & INDUSTRY | AMOUNT* | STRUCTURE & NOTES | ||||
---|---|---|---|---|---|---|---|
SABIC Innovative Plastics Holding B.V. Manufacturer/Chemicals |
Fertilizers | Plastics | Metals | GE Corporate Lending Co-Admin. Agent |
9200.0 | Revolver Supports GE's Plastics acquisition/GE Capital Markets: joint bookrunner |
|
Linens Holding Co. Retailer/Home Furnishings |
GE Capital Markets Admin. Agent, Collateral Agent |
700.0 | Revolver GE Canada Finance: Canadian admin. agent, collateral agent |
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Finlay Enterprises | Inc. Retailer/Fine Jewelry |
GE Corporate Lending Lender |
550.0 | Revolver Supports Bailey Banks & Biddle acquisition/GE Capital Markets: Sole Bookrunner |
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Behringer Harvard Provider/Commercial Real Estate |
KeyBanc Capital Markets, Wachovia Securities Co-Lead Arrangers |
500.0 | $300MM Revolver/$200MM Term Loan Three-year terms/Wachovia: syndication agent; Aareal Bank & Westdeutsche Immobilienbank: co-documentation agents; KeyBank: admin agent |
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Ruddick Corp Operater/Harris Teeter supermarkets |
American & Efird Inc | Wachovia Capital Finance Admin Agent |
450.0 | $350MM Revolver/$100MM Term Loan Five-year term/Lenders: BB&T, Regions Bank, Bank of America, JPMorgan Chase Bank, RBC, CoBank, others |
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Corrections Corporation of America Provider/Corrections Management Services |
Bank of America Admin Agent |
450.0 | Revolver Five-year term/Arrangers: Banc of America Securities, Wachovia Capital Markets |
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X-Rite Inc Lender Provider/Color Printing |
Ableco Finance Lender |
415.0 | $40MM Revolver/$270MM First Lien Term Loan/$105MM Second Lien Term Loan Supports recap |
||||
Coinstar | Inc. Provider/4th Wall Solutions for retailers |
Bank of America Sole, Exclusive Administrative Agent, Swing Line Lender |
400.0 | Revolver Five-year term/Banc of America Securities, J.P. Morgan Securities: joint lead arrangers, joint book managers/JPMorgan Chase Bank: syndication agent/Keybank, U.S. Bank, Wells Fargo Bank: co-documentation agents |
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Interstate Bakeries Corp. Baker |
Distributor/Bread | Sweet Goods | Silver Point Finance Lender |
400.0 | Exit Financing |
||
Builders FirstSource Inc. Manufacturer/Structural |
Related Building Products | Wachovia Capital Markets, UBS Investment Bank Joint Arrangers |
350.0 | Revolver Five-year term/Participants: Wachovia Bank, administrative agent/GE Capital |
|||
Sportsman's Warehouse Retailer/Outdoor Sporting Goods |
GE Commercial Finance Corporate Lending Admin Agent |
325.0 | Revolver Arranger: GE Capital Markets |
||||
Wells Dairy Inc Provider/Dairy Products |
Ableco Finance Agent |
310.0 | $125MM Revolver/$185MM Term Loan Supports refinancing |
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Syntax-Brillian Corp. Distributor/LCD HDTVs |
Digital Cameras | Entertainment Products | Silver Point Finance Arranger |
250.0 | Revolver Citi, CIT, Wells Fargo Foothill, Wachovia, Durham Capital: participating |
||
RTI International Metals | Inc. Producer/Titanium Mill Products |
Metal Components | Citigroup Global Markets, PNC Capital Markets/Citibank Joint Lead Arrangers/Admin. Agent |
240.0 | Revolver Five-year term/Fifth Third Bank, PNC Bank: co-syndication agents |
||
Newpark Resources Inc Provider/Drilling Fluids |
Temporary Worksites | Access Roads | JP Morgan Chase Bank Lead Lender |
225.0 | $175MM Revolver/$50MM Term Loan Replaces previous facility |
||
Quality Distribution LLC Provider/Bulk Transportation |
Related Services | Credit Suisse, Cayman Islands/Credit Suisse Securities/GE Capital Lenders |
225.0 | Revolver Five-and-a-half-year term |
|||
Spectrum Brands | Inc. Supplier/Consumer Products |
Goldman Sachs Credit Partners, Wachovia Bank Lender |
225.0 | Revolver |
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The Providence Service Corp Provider/Home |
Community-Based Social Services | CIT Capital Securities Sole Lead Arranger, Sole Bookrunner |
213.0 | $40MM Revolver/$173MM Term Loan Supports LogistiCare, Inc acquisition |
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American Broadband Communications LLC Operator/Local Exchange Carriers |
Related Businesses | Ares Capital Lender |
200.0 | Acquisition Facility Supports continued acquisition initiatives |
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Rex Energy Corp. Provider/Oil |
Gas | KeyBank, BNP Paribas, M&T Trust Co., Sovereign Bank, Allied Irish Banks Lead Lenders |
200.0 | Revolver Five-year term/Replaces previous debt |
|||
Boston Market Corp Operator/Restaurants |
Ableco Finance Collateral Agent |
145.0 | $40MM Revolver/$15MM Term Loan A/$25 Term Loan B/$35MM Term Loan C/$16MM DD Term Loan B/$14MM DD Term Loan C Supports refinancing |
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DG FastChannel Inc Provider/Digital Media Services |
BMO Capital Lender |
145.0 | Revolver Six-year term/Support Vyvx acquisition |
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AmeriMark Direct LLC Marketer/Women's Apparel |
Cosmetics | Jewelry | etc. | Ableco Finance Lender |
135.0 | $20MM Revolver/$115MM Term Loan Supports recap |
|
Big Rock Sports | LLC Distributor/Sporting Goods |
Wachovia Capital Finance Managing Agent |
130.0 | Revolver |
|||
NameMedia | Inc. Provider/Digital Real Estate |
BofA Securities Arranger, Administrative Agent |
125.0 | Revolver Five-year term/Refinances previous debt |
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Ambulatory Services of America Inc Operator/Healthcare Services |
GE Healthcare Financial Services Sole Lead Arranger, Sole Bookrunner |
123.5 | $20MM Revolver/$70MM First Lien Term Loan/$33.5MM Second Lien Term Loan Acted as Admin Agent for First Lien Loans/Supports Innovative Dialysis Systems acquisition |
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Golden Circle Manufacturer/Shelf Stable Fruit |
Vegetables | Juices | etc. | GE Commercial Finance Lender |
120.0 | Revolver Anchorage Capital Partners provided $35.5MM in new equity |
|
New York & Company | Inc. Retailer/Women's Apparel |
Wachovia Capital Finance Lead Arranger, Admin. Agent |
118.5 | $90MM Revolver/$28.5MM Term Loan |
|||
Arlington Capital Partners Private Equity Firm |
GE Capital Markets Sole Lead Arranger, Bookrunner |
117.3 | Revolver Supports Daily Racing Form acquisition/GE Media, Communications & Entertainment: admin agent |
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Sigma International Group Inc Distributor/Pipe Fittings |
Accessories | etc | PNC Bank Lender |
110.0 | $80MM Revolver/$30MM Term Loan PNC also arranged a $30MM second lien loan/Supports acquisition by Frontenac Company |
||
Terra Renewal Services | Inc. Recycler/Liquid Organic Waste |
Yellow Grease | Merrill Lynch Capital Sole Lead Arranger, Sole Bookrunner, Admin. Agent |
109.0 | Revolver Supports Farming Inc., Blue Iron Equipment, Vista Services acquisitions |
||
Rexnord Funding LLC Supplier/Power Transmission |
Water Management Products | GE Corporate Lending Lender |
100.0 | Trade A/R Securitization |
|||
Foothills Resources Inc Provider/Oil |
Gas Exploration | Wells Fargo Foothill, Regimen Capital Advisors Lender |
100.0 | $50MM Revolver/$50MM Term Loan Five-year term |
|||
Storm Cat Energy Corp Provider/Oil & Gas |
Regiment Capital Advisors, Wells Fargo Foothill Lenders |
80.0 | $50MM Revolver/$30MM Term Loan Maturity: Sept. 27, 2011 |
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Hahn Automotive Warehouse | Inc. Distributor/Automotive Aftermarket Parts |
PNC Bank Lender |
80.0 | Revolver Supports Prime Automotive Parts Co. acquisition |
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Meadowcraft | Inc. Manufacturer/Wrought Iron Patio Furniture |
Accessories | Webster Business Credit Lender |
80.0 | Revolver Three-year term |
||
Apple & Eve | LLC Manufacturer/Juice |
Ares Capital Lead Arranger, Admin. Agent, Collateral Agent |
78.5 | Revolver Completed in conjunction with ClearLight investment |
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Kataman Metals | Inc. Provider/Factoring |
Invoice Financing | National City Business Credit Lender |
75.0 | Revolver |
||
Bibby Financial Services (Holdings) Inc Consultant/Non-Ferrous Metal |
Bank of America Business Capital Administrative, Collateral Agent |
75.0 | Revolver |
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Hickory Farms | Inc. Marketer/Specialty Food Items |
PNC Lender |
75.0 | Revolver |
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Wynnchurch Capital Private Equity Investment Firm |
Bank of America Business Capital Lender |
65.0 | $40MM Revolver/$25MM Term Loan Supports Metzeler Automotive Profile Systems acquisition |
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The Gordian Group Provider/Data |
Technology Services | FirstLight Financial Co-Lead Arranger, Documentation Agent |
52.0 | Revolver Deal Source: The Wicks Group of Companies |
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Mini Skool Early Learning Centers Inc Provider/Child-Care Facilities |
Ableco Finance Agent |
51.5 | $5MM Revolver/$36.5MM Term Loan A/$10MM Term Loan B Supports acquisition |
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Republic Financial Corp Investment Firm: Special Assets |
Structured Finance | Private Equity | Aviation | American Capital Lender |
50.0 | Acquisition Line |
|
Minefinders Corp Ltd Provider/Precious Metals Mining |
Exploration | Scotia Capital Lender |
50.0 | Revolver Three-year term |
|||
NxStage Medical | Inc. Manufacturer/Dialysis Products |
Merrill Lynch Capital Lead Lender |
50.0 | $20MM Revolver/$30MM Term Loan Three-and-a-half-year term |
|||
Rock of Ages Corp. Manufacturer/Finished Granite Memorials |
Blocks | CIT Business Credit Lender |
50.0 | $20MM Revolver/$30MM Term Loan Five-year term/Replaces previous debt |
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Fiber Composites | LLC Manufacturer/Composite Decking |
Railing | Fencing | Bank of America Business Capital Lender |
48.9 | $40MM Revolver/$8.9MM Term Loans Refinances previous debt |
|
Growth Partners Industries LLC Private Equity Firm |
GE Antares Capital Industrial Admin. Agent |
48.0 | $24MM U.S. Revolver/EUR16.7MM Revolver Supports Atlas Material Testing Technology acquisition |
||||
Long Lines | LLC Provider/Communications |
GE Capital Markets/GE Media, Communications & Entertainment Co-Lead Arranger, Sole Bookrunner/Admin. Agent |
47.0 | Debt Financing |
|||
Engineered Machine Products Inc Manufacturer/Diesel Engine |
Power Hydraulic Components | Ableco Finance Lender |
44.1 | $17MM Revolver/$27.1MM Term Loan Supports refinancing |
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CIVC Partners | GrowthPath Capital LLC Provides/Growth & Buyout Capital |
Provider/Private Equity | GE Capital Markets Sole Lead Arranger, Sole Bookrunner |
43.5 | $17.5MM Revolver/$26MM Term Loan GE Antares Capital: administrative agent |
||
Hackney Ladish | Inc. Manufacturer/Commodity |
Hi-Yield | Specialty Fittings | NewStar Financial Lead Lender, Admin. Agent |
43.0 | Revolver Supports partial recap in company |
|
UIB Capital Ltd Private Equity Firm |
Monroe Capital Sole Arranger, Agent |
40.5 | Revolver Supports electronics manufacturing services company acquisition |
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Zep Inc Provider/Specialty Cleaning |
Maintenance Solutions | Wachovia Capital Finance Sole Lender |
40.0 | A/R Securitization |
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Gander Mountain Co Retailer/Outdoor Products |
Bank of America Lender |
40.0 | Term Loan Supports Overton's Inc acquisition |
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Accubuilt Inc Provider/Specialty Vehicles |
NewStar Financial Sole Lead Arranger, Syndication Agent |
40.0 | Revolver Supports company recap |
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Merit Mountainside | LLC Provider/Healthcare |
Siemens Financial Services Lender |
40.0 | $15MM Revolver/$25MM Term Loan Five-year term/Supports Mountainside Hospital acquisition |
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American Hardwood Industries LLC Manufacturer/Lumber Products |
PNC Bank Lender, Lead Syndicator |
40.0 | $25MM Revolver/$15MM Term Loan Supports Blue Triangle Hardwood, Graham Lumber Company, Hardwood Lumber Manufacturing acquisitions |
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Brittany Stamping LLC Provider/Industrial |
Automotive Stamping | Wachovia Capital Finance Sole Lender |
38.0 | Revolver |
|||
Explorico International Distributor/Oil |
Gas Pipe | Ableco Finance Agent |
37.5 | Second Lien Loan Supports acquisition |
|||
Glenoit LLC/Ex-Cell Home Fashions | Inc. Manufacturers/Decorative Bath |
Home Fashion Products | Wachovia Capital Finance Sole Lender |
35.0 | Revolver |
||
Al-Morrell Development LLC | Oasis International Waters | Inc. Provider/Operations |
Facilities & Logistics Solutions | Provider/Bottled Water | Crystal Capital Fund Lender |
35.0 | Debt Financing Refinance previous debt |
Sigma International Group Inc Distributor/Ductile Iron |
Cast Iron Fittings | Monroe Capital/Ares Capital Lender/Agent |
30.0 | Second Lien Facility Deal Source: Frontenac Company |
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Vitesse Semiconductor Corp. Developer/Semiconductor Solutions |
Whitebox VSC Lender |
30.0 | Debt Financing Four-year term |
||||
Delta Industrial Services | Inc. Manufacturer/Specialty Web Converting |
Packaging Equipment | Textron Financial Business Credit Lender |
30.0 | $26MM Revolver/$4MM Stretch Term Loan |
||
House of Taylor Jewelry | Inc. Provider/Jewelry |
New Stream Capital Lender |
30.0 | $25MM Revolver/$5MM Term Loan Three-year term |
|||
United Road Services | Inc. Provider/Vehicle Transportation |
Logistic Services | Crystal Capital Fund Documentation Agent, Lead Investor |
27.0 | Second Lien Term Loan Supports acquisition by The Gores Group |
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Knopf Automotive LLC Distributor/New & Used Auto Parts |
Wachovia Capital Finance Sole Lender |
25.0 | Revolver |
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Personal-Touch Home Care | Inc. Provider/Home Care Services |
Healthcare Finance Group Lender |
25.0 | Revolver |
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Zayo Bandwidth | Inc. Provider/Fiber-based Bandwidth Services |
Hercules Technology Growth Capital Lender |
25.0 | Debt Facility |
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Madison-Kipp Corporation Producer/Machined Components |
System Subassemblies | Bridge Finance Group Lender |
23.4 | $12MM Revolver/$8.4MM Term Loan, CAPEX Line |
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EMG Partners Private Equity Firm |
PNC Financial Services Group Lender |
22.1 | $17.5MM Revolver/$4.6MM Term Loan Supports American Sports Works acquisition |
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Spyglass Cedar Creek LP Provider/Oil |
Gas Exploration | Development | CIT Group Lender |
22.0 | Revolver |
||
Austin Ribbon & Company Provider/IT Solutions |
IBM Global Financing Lender |
22.0 | Revolver |
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Wabash Technologies Inc Manufacturer/Sensors |
Fuel Injection | Ableco Finance Admin Agent |
20.0 | Revolver Supports refinancing |
|||
PA Inc Distributor/Pipe |
Tubing | Fittings | Flanges | PNC Bank Lender |
20.0 | Revolver/Term Loan Supports acquisition by Freestone Partners |
|
Dominion Business Finance | LLC Provider/Working Capital Financing |
Wells Fargo Foothill Lender Finance Lender |
20.0 | Revolver |
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Dover Saddlery Inc Retailer/Equestrian Products |
RBS Citizens Bank Lender |
18.0 | Line of Credit BCA Mezzanine Fund led a $5MM sub-debt facility |
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Redstone American Grill Inc Owner/Upscale Casual Restaurant |
GE Capital Lender |
16.5 | Revolver Supports growth |
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Tri-State Delivery | Inc. Provider/Specialty Trucking |
PNC Bank Lender |
15.6 | $15MM Revolver/$.6MM Term Loan |
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Deb Shops Inc Retailer/Specialty Apparel |
Prospect Capital Lender |
15.0 | Second Lien Investment Supports acquisition by Lee Equity Partners affiliate |
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Ready Mixed Concrete Co Provider/Concrete |
Related Products | Citi Lender |
15.0 | Revolver |
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Tropic Oil Company Inc Distributor/Petroleum Products |
Citi Lender |
15.0 | Revolver |
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GVI Security Solutions | Inc. Provider/Video Surveillance Security Solutions |
Wells Fargo Bank Lender |
15.0 | Revolver Three-year term |
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Life Generations Healthcare | LLC Operator/Skilled Nursing Facilities |
Assisted Living Facilities | Crystal Capital Fund Agent |
15.0 | Second Lien Term Loan |
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Mealey's Furniture Holdings | Inc. Retailer/Furniture |
NewStar Financial Sole Lender, Admin. Agent |
15.0 | Revolver Supports Mealey's recap by Parallel Investment Partners |
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Solarflare Communications | Inc. Developer/Ten Gigabit Ethernet Technologies |
Hercules Technology Growth Capital Lender |
15.0 | Venture Debt Financing |
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Housatonic Partners | Tucker Partners Private Equity Firms |
Patriot Capital Funding Lender |
13.8 | Revolver Supports Aircraft Fasteners International acquisition |
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In Zone | Inc./In Zone Brands | Inc. Distributor/Beverage Products/Distributor - Insulated Cups |
Mugs | etc. | Webster Business Credit Lender |
10.3 | Revolver Three-year term |
The Standard Group Manufacturer/Paperboard Folding Cartons |
National City Business Credit Lender |
10.0 | Revolver |
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MerchantCircle Provider/Online Networks of Local Business Owners |
Square 1 Bank Lender |
10.0 | Revolver |
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Newtek Business Services | Inc. Provider/Business Services |
Financial Products | North Fork Bank Lender |
10.0 | Revolver Newtek subsidiary Crystaltech Webhosting will also use facility |
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FHG Enterprises | Inc. Franchisee/Checkers Drive-In Restaurants |
GE Franchise Finance Lender |
10.0 | Revolver Supports Checkers Restaurant refinancing |
|||
Sportexe Holdings | LLC Developer/Indoor |
Outdoor Synthetic Turf | North Fork Business Capital Lender |
10.0 | Revolver |
||
Diomed Holdings | Inc. Developer/Minimally Invasive Medical Technologies |
Hercules Technology Growth Capital Lender |
10.0 | Term Loan Three-year term |
|||
Aerocare Holdings | Inc. Provider/Oxygen |
Respiratory Services | Medical Equipment | Healthcare Finance Group Lender |
9.0 | $7MM Revolver/$2MM Term Loan Supports Durable Medical Equipment sector acquisition |
|
Next Inc. Distributor/Promotional Products |
Imprinted Sportswear | National City Bank Lender |
7.5 | Line of Credit |
|||
ATS Group | LLC Provider/Staffing |
Recruiting | Consulting | PNC Bank Lender |
7.3 | $6MM Revolver/$1.3MM Term Loan Supports ATS Services acquisition, Dunhill Staffing Systems merger |
|
U.S. Miniature Lamps | Inc. Manufacturer/Incandescent |
Fluorescent Lamps | Lighting | Platinum Funding Group Lender |
7.2 | A/R Financing |
|
Cardium Therapeutics | InnerCool Therapies Manufacturer/Therapeutic Products |
Devices | Life Sciences Capital Lender |
5.0 | Commercial Credit Facility |
||
Arcadia Products | Inc. Provider/Alternate Site Healthcare Services |
Products | Presidential Healthcare Credit Corp. Lender |
5.0 | Revolver Three-year term |
||
Aerosol Specialties | LLC Producer/Private Label |
Contract Packaging | Marquette Business Credit Lender |
4.9 | Revolver |
||
Neopart USA Distributor/Transit Bus Parts |
Marquette Business Credit Lender |
4.8 | Revolver/Term Loan |
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Norsan Meats Inc Distributor/Meat |
Marquette Business Credit Lender |
4.2 | Revolver, Term Loan |
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ATSI Communications Inc Operator/Digerati Networks |
Telefamilia Communications | Wells Fargo Business Credit Lender |
3.0 | A/R Facility |
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Decorize | Inc. Provider/Home Accents |
Guaranty Bank Lender |
3.0 | Line of Credit |
|||
Thermal Energy International Inc Provider/Energy & Emission Reduction |
Bioenergy Solutions | Toronto-Dominion Bank Lender |
2.5 | Line of Credit Five-year term |
|||
Nextera Enterprises | Inc. Operator/Woodridge Labs: Developer/Branded consumer Products |
NewStar Financial Lender |
2.5 | Bridge Loan |
|||
Truition | Inc. Provider in the field of eCommerce Platform technology |
Wellington Financial Lender |
2.5 | Venture Debt |
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Zevotek Inc Manufacturer/IONIC BULB |
Star Funding Lender |
2.0 | PO, Factoring Facility |
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Karbach Holdings Corp. Provider/Large-Scale |
High-Profile Graphics Projects | Amcore Bank Lender |
2.0 | Revolver Houlihan Smith & Co.: exclusive financial advisor |
|||
MicroSeismic | Inc. Provider/Microseismic Monitoring |
Passive Seismic Imaging | Square 1 Bank Lender |
2.0 | Line of Credit |
||
Victory Energy Services LLC Provider/Saltwater Disposal |
Marquette Business Credit Lender |
2.0 | Revolver, Term Loans |
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Gudebrod Inc Manufacturer/Braids |
Yarns | Dental Floss | etc | Business Alliance Capital Company Lender |
1.3 | $1MM A/R Working Capital Facility/$.3MM Line of Credit |