October 18, 2019

Sterling Bancorp Promotes Lopp to Chairman/CEO


Sterling Bancorp Chairman and CEO Gary Judd will retire after more than 11 years with the company. The bank’s board has appointed Tom Lopp, the current president, chief operating officer and chief financial officer, to succeed Judd.

JPMorgan Agents $850MM Facility for Tempur Sealy


Tempur Sealy International amended its $850 million revolving and term loan senior secured credit facilities.

Santander Appoints Dunphy Head of Mid Corporate Banking


Santander Bank appointed Patrick Dunphy as head of its Mid Corporate Banking and Verticals businesses within the Commercial Bank.

Wasserman Joins Huntington as Chief Financial Officer


Zachary J. Wasserman will join Huntington Bancshares as senior executive vice president and chief financial officer.

SSG Advises True Health in Sale of Assets to Cleveland HeartLab


SSG Capital Advisors acted as the investment banker to THG Holdings in the sale of select assets to Cleveland HeartLab, a subsidiary of Quest Diagnostics.

Amerisource Acquires Specialty Finance Units from MidSouth Bank


Amerisource Business Capital acquired two specialty finance business units from MidSouth Bank, based in Lafayette, LA.

First Internet Bank Expands SBA Team


Mark Gibson has joined the First Internet Bank SBA lending team as national sales manager.

Carter Joins Hinshaw Commercial Transactions Practice in Chicago


Mark A. Carter has joined Hinshaw & Culbertson as a partner in the Commercial Transactions Practice in the Chicago office.

Lighthouse Financial Provides $4MM Facility to Fabrics Distributor


Lighthouse Financial completed a $4 million credit facility for a North Carolina based manufacturer and distributor of narrow fabrics.

Amerisource Closes $1MM Facility for Distribution Company


Amerisource Business Capital closed a $1 million credit facility for a growing distribution and warehousing company based in California and Georgia.

October 17, 2019

Lessard to Lead Restructured Wells Fargo Canadian ABL/EF Team


Wells Fargo Commercial Capital has realigned its Canada-based Equipment Finance and ABL originations teams into a newly integrated business unit.

BMO Provides $3MM ABL to ILA


iLOOKABOUT closed a credit facility with Bank of Montreal’s Technology & Innovation Banking Group consisting of a $1.5 million term loan and a $1.5 million revolving credit facility, both of which mature in October 2022.

Johnson Joins Pinnacle Bank Capital Finance Group as EVP


Jeffrey Johnson has joined Pinnacle Bank’s Capital Finance Group as executive vice president.

DePledge to Lead Leumi USA ABL Division


Bank Leumi USA has hired John DePledge to head its New York-based Asset-Based Lending business.

Alantes Agents $11.5MM Term Loan for Entertainment Services Company


Alantes secured a $11.5 million term loan for an entertainment services company.

Laurentian Names Gunderson EVP/Capital Markets


Laurentian Bank Financial Group has appointed Kelsey Gunderson as its executive vice president, Capital Markets and president and CEO of Laurentian Bank Securities.

A&M Expands Tech Advisory Services with New Hire


Alvarez & Marsal has appointed Mary Jesse a senior director based in Seattle in its Corporate Performance Improvement group.

CIT Northbridge Arranges $40MM Facility for Hantover


CIT Northbridge Credit served as sole lead arranger on a $40 million senior secured credit facility for Hantover, a distributor of products to the food processing industry.

Wintrust Closes New $4MM Facility for Transpiration Broker


Wintrust Receivables Finance funded a $4 million credit facility for a transportation broker based in Illinois.

ITC Relaunches Brand and New Website


ITC – Invoice to Cash, an Accutrac Capital Group company, has rebranded and launched a new website.

October 16, 2019

FTI Consulting Expands Forensic & Litigation Consulting Team


FTI Consulting has added Naidira Alemova as a senior managing director and Kyle Daddio as a managing director in the Financial Services practice within the Forensic and Litigation Consulting segment.

Rosenthal Provides $5MM Facility for Horticulture Lighting Manufacturer


Rosenthal & Rosenthal completed a combined $5 million inventory production and asset-based lending deal for a private equity-owned manufacturer of specialized LED lighting systems.

BHI Appoints Kochanov To Lead Independent Underwriting Team


BHI appointed Oleg Kochanov as senior vice president, head of Credit Underwriting.

MidCap Business Credit Provides $4MM ABL to Trans-Lux


MidCap Business Credit closed a $4 million asset-based credit facility for Trans-Lux.

Huddleston Joins Prestige Capital as Sales Director, Midwest


Fort Lee, NJ-based Prestige Capital hired Stacey Huddleston to its team as sales director, Midwest.

TD Provides $2.4MM SBA Loan to Support Kubert School Buy


TD Bank’s U.S. SBA Lending Group closed $2.4 million combined in 7(a) term and 7(a) express loans for The Kubert School in Dover, NJ, which offers a fully accredited three-year course for cartoon and graphic arts.

Coral Capital Provides $1.2MM Factoring Facility to Food Distributor


Coral Capital Solutions provided a $1.2 million annual factoring facility to a startup distributor of natural frozen hand-held pies.

Bibby Financial Closes Two Deals Totaling $2.05MM


Bibby Financial Services closed two credit facilities for Quebec-based companies, totaling $2.05 million.

SG Credit Provides $6.5MM Facility to SaaS Company


SG Credit Partners provided a $6.5 million senior secured credit facility to a SaaS company

Sallyport Supports Print Firm Turnaround with $1.5MM A/R Facility


Sallyport Commercial Finance provided a $1.5 million accounts receivable facility to a company that focuses on high quality print for advertising and packing.

October 15, 2019

JPMorgan Chase Agents $1.35B in Facilities for MSG Networks


JPMorgan Chase Bank acted as administrative agent on $1.35 billion in credit facilities for sports network MSG Networks, which broadcasts the games of the New York Knicks, among others.

Wells Fargo Reports $4.6B in Income for Q3/2019


Wells Fargo reported its financial results for the third quarter of 2019. Net income for the quarter was $4.6 billion, compared with $6.0 billion in third quarter 2018.

JPMorgan Chase Arranges $60MM Upsize to Lawson Products Facility


JPMorgan Chase Bank acted as administrative agent on a $60 million upsize to Lawson Products’ credit facility, bringing the total borrowing capacity to $100 million.

Monroe Supports TEAM Services/AmeriBest Home Care Partnership


Monroe Capital acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support TEAM Services Group’s partnership with AmeriBest Home Care.

Mercantile Bank Reports Strong Third Quarter 2019 Results


Mercantile Bank reported net income of $12.6 million for the third quarter of 2019, compared with net income of $10.1 million for the respective prior-year period.

SVB Provides $10MM Revolver to Luna Innovations


Luna Innovations entered into a new $10 million revolving credit facility with Silicon Valley Bank.

North Mill Provides $3.5MM A/R Facility to Innominds


North Mill Capital provided a $3.5 million accounts receivable credit facility to Innominds Software.

Internex Capital Provides $500K to Woman-Owned Lab


Internex Capital provided $500,000 to a Texas-based company that specializes in environmental lab testing.

October 14, 2019

WSJ: Barneys Stalking Horse Deadline Extended to Tuesday


According to the Wall Street Journal, lenders for bankrupt retailer Barneys New York have extended the deadline for the company to find a stalking horse bidder until Tuesday, October 15.

Goodman Factors Rebrands as Goodman Capital Finance


Goodman Factors has rebranded as Goodman Capital Finance, a name that better reflects its new and broader product offering.

Sutter Named Head of Wells Fargo Corporate Trust Services


Wells Fargo appointed industry veteran Patricia Sutter head of Wells Fargo Corporate Trust Services. She will report to David Marks, head of Wells Fargo Commercial Capital.

Moenickheim Joins Gateway First Bank as Chief Risk Officer


Peter Moenickheim joined Gateway First Bank, one of the largest banks in the State of Oklahoma, as its chief risk officer.

Fifth Third Business Capital Provides $21.5MM to Spray Products


Fifth Third Business Capital acted as sole lender and administrative agent on the funding of a new $21.5 million senior credit facility for Spray Products.

Barclays, Citibank, Others Provide $154.4MM Revolver to Keywords Studios


Barclays Bank, Citibank, HSBC and Silicon Valley Bank provided a revolving credit facility of up to €140 million ($154.4 million) to Keywoods Studios.

PNC Agents $100MM ABL Revolver for Ferroglobe


PNC Bank acted as lender and agent on a new, five-year $100 million North American asset-based revolving credit facility.

Matthews Joins Community Trust Bank Board of Directors


Community Trust Bank appointed Ina Michelle “Missy” Matthews to its board of directors. Matthews is the president of Childers Oil/Double Kwik, Whitesburg, KY.

Deutsche Bank Supports HGGC Acquisition of Monotype Imaging


Deutsche Bank Securities served as left lead arranger on the debt financing to support HGGC’s acquisition of Monotype Imaging Holdings.

October 11, 2019

Fed Seeking to Bar Former Pacific Premier Exec from Banking


The Federal Reserve Board is seeking to permanently bar Mai Ly-Vu, a former branch manager and vice president of Pacific Premier Bank, from employment in banking industry.

Target to Re-Launch Toys ‘R’ Us Brand


ToysRUs.com relaunched today with videos and articles on the latest toy trends and brands. The website will be powered by Target.

Barclays, Deutsche, Others Lead B&G Foods $450MM Term Loan


B&G Foods closed a $450 million tranche B term loan facility under its existing senior secured credit facility.

Reuters: U.S. Banks Expected to Report Q3 Earnings Decline


Reuters reported the biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates.

Corporate Energy Lawyer Freeman Joins Haynes and Boone


Michael Freeman has joined Haynes and Boone as a Dallas-based partner in the firm’s Energy Practice Group.

SSG Advises Rocket Air Supply in the Sale of Interests


SSG Capital Advisors acted as the investment banker to Rocket Air Supply in the sale of all of its interests to Baroda Group and Anchor Capital & Investments.

CIT Arranges $87MM Financing for Storage Rentals of America Recap


CIT Group’s Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America self-storage facilities.

Fidelity Bank Names Bueche Chief Credit Officer


Fidelity Bank named Brian Bueche senior vice president and chief credit officer.

Madison Street Advises Sale of Attero Tech to QSC


Madison Street Capital acted as the exclusive advisor in the sale of Attero Tech to QSC.

Osborne Joins Accord Financial as SVP


Accord Financial hired Cathy Osborne as senior vice president of Human Resources.

October 10, 2019

BMO Agents $750MM Exit Facility for Halcón Resources


Halcón Resources has emerged from bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.

Lehnes Returns to Versant Funding as BDO


Chris Lehnes is returning to his role of business development officer at Versant Funding, based in Fairfield County, CT.

Shanks Joins Sidley M&A/PE Group in London


Eleanor Shanks will join Sidley and Austin in London. as a member of the global M&A and Private Equity practice.

Wintrust Financial Completes Acquisition of STC Capital Bank


Wintrust Financial completed its acquisition of STC Bancshares.

Galvez Joins BBVA USA as Commercial Banking Relationship Manager


BBVA USA has hired David Galvez as its new Commercial Banking Relationship Manager.

Jefferies Agents $525MM Term Loan for Virtu Financial


Subsidiaries of Virtu Financial closed their previously announced incremental $525 million senior secured first lien term loan.

Regions Provides $10MM Facility to Harvest Oil & Gas


Harvest Oil & Gas has entered into a new $10 million credit facility with Regions Bank.

First Waterloo to Acquire Best Hometown Bancorp


First Waterloo Bancshares will acquire all of the outstanding shares of common stock of Collinsville, IL-based Best Hometown Bancorp.

Goldman Sachs Provides $100MM Facility to Konfío


Mexican fintech lender Konfio secured a $100 million credit facility from Goldman Sachs.

J D. Factors Closes 7 Deals Totaling $1.14MM


J. D. Factors completed seven factoring facilities totaling $1.14 million.

October 9, 2019

Daks Joins Rosenthal & Rosenthal West Coast Team as VP


Independent factoring and ABL financing firm Rosenthal & Rosenthal appointed Phillip Daks as a vice president/account executive in the firm’s West Coast office.

Siena Closes New ABL Revolver for Doodad Printing


Siena Lending Group completed a new asset-based revolving credit facility for Doodad Printing.

Citibank Agents $300MM Upsize to KB Home Revolver


Citibank served as administrative agent on an amendment to KB Home’s revolving credit facility, which increased the borrowing capacity to $800 million and extended the maturity date to October 2023.

Access Capital Provides Financing to HonorVet Technologies


Access Capital provided a $1 million credit facility to HonorVet Technologies, a certified service-disabled-veteran-owned small business (SDVOSB).

Abacus Agents $48MM Facility to Support Receivable Solutions Recap


Abacus Finance Group served as administrative agent and co-lead arranger for $48 million in senior secured credit facilities to support the recapitalization of Receivable Solutions by WestView Capital Partners.

ING Agents $300MM Revolver for Gerald Group


ING Capital led a $300 million syndicated financing on behalf of GT Commodities, the North American trading hub for Gerald Group, the world’s largest employee owned metals merchant.

LBC Credit Partners Expands DreamLine Facility


LBC Credit Partners increased DreamLine’s senior secured credit facilities to support an investment in Arizona Shower Doors.

Small Business Loan Approvals at Big Banks Hit New Record High


Approval rates for small business loan applications rose to another post-recession record (27.9%) at big banks according to the Biz2Credit Small Business Lending Index. Non-bank approvals slipped by a 10th of a percent

CIT Hires McElyea to Lead Merchant and Card Initiative


Bob McElyea has joined CIT Group as managing director leading CIT’s Merchant and Card Initiative in the Treasury and Payment Services group.

ABN AMRO, Nordea, Others Provide $34.3MM Loan for Eagle Bulk


Eagle Bulk Ultraco closed on a $34.3 million incremental term loan under its existing five-year senior secured term loan facility, which bears an interest rate of LIBOR plus 2.50% and matures in 2024.

October 8, 2019

Garrington Buys Liquid Capital Assets, Launches Two ABL Firms


The Garrington Group of Companies has purchased the assets of Liquid Capital and launched Blacksail Partners and IconiQ Finance to serve ABL borrowers in the U.S. and Canada.

Encina Provides $15.3MM Facility to Parts Manufacturer


Encina Business has provided a $15.3 million senior secured credit facility to a manufacturer of thermoplastic molds and modeled parts.

IDB Bank Taps Biron as CEO, Promotes Levin to Lead Parent Company


IDB Bank’s board of directors named Ziv Biron its president and CEO. Biron currently serves as chief financial officer and head of Planning Strategy and Finance Division at IDB’s Tel Aviv-based parent, Discount Bank.

Winter Harbor Adds Montgomery to Expand National Presence


Jay Montgomery has joined Winter Harbor and will be based in Columbia, SC.

Apollo, Elliott Cut Deal to Support EP Energy Chapter 11 Filing


The Wall Street Journal reported EP Energy filed for Chapter 11 protection by cutting $3.3 billion in debt under a proposed deal with Apollo Global Management and Elliott Management.

Ropes & Gray Adds Two Finance Partners in New York


Leonard Klingbaum and Andrea Hwang have joined Ropes & Gray’s Finance Practice as partners in the firm’s New York office.

Twin Brook Supports AVALT Acquisition of Ned Stevens


Family office AVALT has purchased Ned Stevens, a provider of residential gutter cleaning and essential exterior home services.

A&M Adds Yum to Corporate Performance Improvement Group


Alvarez & Marsal has appointed Jason Yum as senior director to its Corporate Performance Improvement group in Seattle.

Utica Leaseco Completes Two Transactions Totaling $900K


Utica Leaseco completed two transactions for hemp companies totaling $900,000.

North Mill Provides $1MM A/R Facility to Staff Right


North Mill Capital has provided a $1 million accounts receivable facility to Staff Right Solutions.

October 7, 2019

Hildreth & Roe Join Ankura as Senior Managing Directors


Ankura appointed two new senior managing directors based in London, economist Andrew K. G. Hildreth and infrastructure and capital projects expert Jonathan Roe.

Twin Brook Supports Kinderhook Acquisition of Copperweld


Twin Brook Capital Partners served as administrative agent for a $39 million facility to support Kinderhook Industries acquisition of Copperweld Bimetallics.

Wells Fargo Agents $400MM Revolver for Tyler Technologies


Tyler Technologies has entered into a new five-year, $400 million revolving credit facility with Wells Fargo as administrative agent.

TD Agents $300MM Facility for Badger Daylighting


Badger Daylighting and its subsidiaries have increased their senior secured credit facility with a group of five lenders from $145 million to $300 million, with TD Bank as administrative agent.

Hoerig Joins Heritage Southeast as EVP/Chief Credit Officer


Paul Hoerig has joined newly formed Heritage Southeast Bank as Executive vice president and chief credit officer.

Encina Provides $25MM Facility to Pharmaceutical Company


Encina Business Credit provided a $25 million senior secured credit facility to a pharmaceutical company.

Briar Capital Closes Two Loans Totaling $6.735MM For Market Research Firm


Briar Capital Real Estate Fund provided two new real estate loans totaling $6.735 million secured by properties in Chicago and Los Angeles, to a market research company.

CIT Bank Provides New ABL for Nebraska Book Company


Nebraska Book Company entered into a new five-year, asset-based loan facility with CIT Bank.

Tiger Group Sells Stake in BikeCo to Advanced Holdings


Tiger Capital Group has sold its stake in the newly formed BikeCo, to joint venture partner Advanced Holdings.

PNC Amends Hallador Energy $238MM Facility


Hallador Energy closed on a credit facility amendment with its administrative agent, PNC Bank.

October 4, 2019

TD Promotes Barr to New Hampshire Commercial Market President


TD Bank has promoted Gary Barr to New Hampshire Commercial Market President.

WSJ: Fed Expected to Give Large Banks a Break


The Wall Street Journal reported The Federal Reserve is expected next week to vote on measures to ease liquidity and capital rules for large U.S. banks.

September Commercial Chapter 11 Filings Up 33% Over 2018


ABI reported Commercial Chapter 11 filings totaled 414 in September, a 33% increase over September 2018’s total of 312 filings, according to data provided by Epiq Systems.