The WSJ reported that a Hoover brand owner was the highest bidder at the Oreck bankruptcy auction, squelching the Oreck family’s chance at buying back its namesake vacuum cleaner company.
Cole Taylor Business Capital funded a $12 million facility for PureTek. Proceeds were used to refinance existing debt and fund ongoing working capital.
Tech Valley Communications secured a new debt facility through GE Capital, with Webster Bank as the co-lender. Proceeds will be used for M&A activities, network expansion and new service rollouts.
The Alta Group said its M&A advisory practice provided due diligence and related corporate advisory services to Umpqua Holdings and Umpqua Bank in the recent acquisition of Financial Pacific Holding, the parent company of Financial Pacific Leasing.
LBC Credit Partners was agent and sole lender for a $12.5 million secured mezzanine loan to support the recapitalization of AFCO, a Larsen MacColl Partners portfolio company.
KeyBank said it has been selected as a partner bank in the pilot program of the U.S. Global Business Solutions initiative, an interagency effort launched by the SBA to expand the reach of federal government export assistance.
Saba entered into a new $25 million five-year credit facility with an affiliate controlled by Vector Capital. The facility is in addition to its existing $40 million revolver with Wells Fargo.
The Federal Reserve, FDIC and the OCC proposed a rule to strengthen the leverage ratio standards for the largest, most systemically significant U.S. banking organizations.
Kroger and Harris Teeter announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter. BofA Merrill Lynch and J.P. Morgan Securities are acting as exclusive financial advisor to Kroger and Harris Teeter, respectively.
Graycliff Partners completed a subordinated debt investment in Moss, a designer and manufacturer of tension fabric structures and display hardware for trade show exhibits, events and retail stores.