June 17, 2019

ABI Chief Gerdano to Retire


Samuel J. Gerdano will be retiring as executive director of the American Bankruptcy Institute.

Monroe Supports High Road Acquisition of Berg Wholesale


High Road Capital Partners’ portfolio company Banner Solutions has completed the acquisition of Berg Wholesale. Monroe Capital provided financing to support the transaction.

Blue Torch Provides $75MM Facility for MiMedx


MiMedx Group closed a three-year term loan facility with Blue Torch Finance in the aggregate principal amount of $75 million.

ATB Leads Delphi Energy Facility Extension


Delphi Energy extended its $105 million senior credit facility. Alberta Treasury Branches led the transaction.

Gateway First Taps Sizemore as Bank Secrecy Act Officer


Gateway First Bank appointed Tiffany Sizemore as its Bank Secrecy Act Officer.

Utica Leaseco Provides Over $2MM to Chemical Processing Company


Utica Leaseco provided a $2,150,000 capital lease to a chemical processing company in Northern California.

BankUnited Hires Alford as General Counsel


BankUnited hired Michael Alford as general counsel

Radtke Named CCO of MUFG Americas


Eva Radtke will join MUFG as managing director and chief communications officer of MUFG Americas.

Macquarie to Support Century Casino Acquisition


Century Casinos will acquire the operations of Isle Casino Cape Girardeau, Lady Luck Caruthersville and Mountaineer Casino, Racetrack and Resort for approximately $107 million. Macquarie Capital is expected to provide a credit facility to support the transaction.

Westpac Provides $1MM Revolver for Spectur


Australian-listed security technology company Spectur has secured a debt facility of $1 million with Westpac Bank.

June 14, 2019

Wells Fargo Agents Up to $100MM DIP for Legacy Reserves


Legacy Reserves has executed a global restructuring support agreement with its lenders. Wells Fargo is serving as administrative agent for up to $100 million in DIP financing.

KPMG May Face $50 Million Fine to Settle SEC Probe


The Wall Street Journal reported that Big Four accounting firm KPMG will face a fine of up to $50 million following an SEC investigation related to actions of a former partner.

Scotiabank, Others Lead Pinnacle Facility Upsize to $530MM


Pinnacle Renewable has expanded its credit facility to $530 million with a syndicate of lenders led by the Bank of Nova Scotia, Bank of Montreal, Royal Canadian Bank and CIBC.

BB&T and SunTrust to Rebrand as Truist


BB&T and SunTrust to tebrand as Truist following their merger. The new entity will form the sixth largest bank in the U.S.

Wells Fargo Names Chrapaty Chief Technology Officer


Wells Fargo named Debra Chrapaty as its chief technology officer, making permanent a role she held on an interim basis since May. She will continue reporting directly to Saul Van Beurden, head of Technology.

Pacific Mercantile Provides $6.4MM Facility to Culinary Int’l


Pacific Mercantile Bank has provided a $6.4 million credit facility consisting of a line of credit and a commercial term loan to Culinary International.

Golden to Lead U.S. Cyber Practice for Deloitte Risk/Financial Advisory


Deloitte appointed Deborah Golden, principal, Deloitte & Touche, as the new leader of its U.S. Cyber Practice.

BOK Financial Adds Thompson to Expand Healthcare Team


BOK Financial has named industry-veteran Jim Thompson as senior vice president and director of senior housing investments for the Healthcare Banking division.

AlixPartners Hires Dyer to Expand China Practice


Stephen Dyer has joined AlixPartners as a managing director in the firm’s Shanghai office.

Sallyport Provides $250K A/R Facility to OEM Manufacturer


Sallyport Commercial Finance provided a $250,000 accounts receivable facility to a company committed to providing equipment and process controls to the water treatment and manufacturing sectors.

June 13, 2019

Glausch Joins Peapack-Gladstone as Commercial Private Banker


Jeffrey A. Glaush has joined Peapack-Gladstone Bank as senior managing director, Commercial Private Banker.

PNC Provides $450MM Facility for Vector Security


Vector Security entered into a $450 million credit agreement led by PNC Bank as administrative agent.

B. Riley FBR Adds Krinbring as MD/Investment Banking


Craig Krinbring B. Riley FBR as managing director in the firm’s Investment Banking division based in San Francisco.

BDC Provides $10MM Facility for good natured Products


good natured Products has secured $10 million in growth capital from BDC Capital to further accelerate organic growth.

Hudson Bay Attempts to Go Private to Save Saks, Lord & Taylor


The Wall Street Journal reported that a group of investors is attempting to take the Hudson Bay Company private in an attempt to save iconic department stores Saks Fifth Avenue and Lord and Taylor.

Wells Fargo Upsizes Boot Barn Revolver to $165MM


Boot Barn Holdings amended both its revolving credit facility with Wells Fargo as administrative agent and its term loan agreement with Golub Capital.

ING Capital Agents $190MM Revolver for Auramet


Auramet International has closed a $190 million syndicated financing deal. ING Capital as administrative agent, structured and arranged the revolving credit facility.

Morowitz Joins Pepper Hamilton Funds Team


Brent A. Morowitz has joined Pepper Hamilton as of counsel in the Corporate and Securities Practice Group, resident in the New York office.

Harte Gold Closes $82.5 Credit Agreement


Harte Gold signed a credit agreement with BNP Paribas consisting of a $52.5 million non-revolving term facility and a S$20 million revolving term facility.

BofA Agents $2.25B Revolver for Consolidated Edison


Consolidated Edison amended its existing $2.25 billion revolving credit facility with Bank of America as administrative agent.

June 12, 2019

Monroe Expands Direct Originations Team with Seven New Hires


Monroe Capital has expanded its direct originations team with the addition of seven experienced investment professionals.

WSJ: Top Banking Execs Turn Thumbs Down on Wells Fargo Top Job


The Wall Street Journal reported that PNC’s William Demchak and former U.S. Bank chief Richard Davis have declined offers to replace Tim Sloan at Wells Fargo.

TCF Financial Launches TCF Capital Solutions


TCF Financial launched TCF Capital Solutions  to bring together the resources of TCF Equipment Finance and Winthrop Resources,

Citizens Provides $29.5MM Facility to Convert Historic Poth Brewery


Citizens Bank’s Community Development Group provided $29.5 million in construction loan for the adaptive re-use and substantial renovation of the vacant historic Poth Brewery Plant.

Hitachi Promotes Hatfield, Names Pagliaro CFO


Hitachi Capital America named Executive Vice President Terry Hatfield its new operational excellence leader and hired Valerie Pagliaro as senior vice president and chief financial officer.

KeyBank Agents $100MM Revolver for Runway Growth Credit


Runway Growth Credit Fund entered into a credit agreement with KeyBank as administrative agent and CIBC Bank as a lender.

Jones Joins Greenberg Traurig Federal Government Law & Policy Practice


Robert C. Jones has joined Greenberg Traurig as co-chair of the firm’s Washington, D.C. Federal Government Law & Policy Practice.

Pacific Mercantile Provides Facility to Performance Inflatables


Pacific Mercantile Bank has provided a multi-million dollar credit facility to Performance Inflatables.

SQN Supports Boardwalktech Refi


Boardwalktech Software completed the restructuring of its debt agreement with SQN Venture Income Fund. This deal involves an extension of its existing debt structure at a better interest rate and a new $1 million loan.

Danske Provides $22.6MM Revolver to Aspo


Finish conglomerate Aspo closed a €20 million ($22.6 million) revolving credit facility with Danske Bank, Helsinki branch.

June 11, 2019

MUFG Upsizes Willis Lease Revolver to $1B


Willis Lease Finance expanded its $890 million revolving credit facility to $1 billion. MUFG served as administrative agent for the transaction.

Grizzard Joins CIT as MD for Defense and Government Services


Leslie Grizzard has joined the CIT Group as managing director in the company’s Aerospace, Defense & Government Services business.

Golub Capital Agents Facility to Support CloudSense Expansion


Golub Capital provided growth financing to CloudSense, a provider of sales and delivery software solutions, in support of Vector Capital.

Hickox Joins First Business Growth Funding as VP/Underwriting


Violet Hickox has joined First Business Growth Funding as vice president, Underwriting.

Piper Jaffray Expands Healthcare Investment Banking Team


Piper Jaffray has hired Mihir Mantri and Paul Scansaroli as managing directors in its Investment Banking division.

First National Bank of PA Supports DLH Acquisition of SSS


DLH Holdings acquired privately-held Social & Scientific Systems of Silver Spring, MD. First National Bank of Pennsylvania agented a new five-year, $95 million facility to support the transaction.

A&M Hires New MD to Expand China-Related Capabilities


Alvarez & Marsal added Managing Director Jean Chow-Callam to its Disputes and Investigations practice in Los Angeles, Hong Kong and Shanghai.

Bank Leumi USA Appoints Nelor Chief Information Security Officer


Bank Leumi USA has named Carl Nelor its new chief information security officer.

J D Factors Closes Five Transactions Totaling $1.85MM


J D Factors completed five factoring facilities in the first week of June totaling $1.85 million.

Bibby Promotes Ciccolo to President/CEO for North America


Bibby Financial Services has named David Ciccolo, as its new president and CEO for North America, replacing Ian Watson.

June 10, 2019

Preber to Serve as Grant Thornton Interim CEO


Grant Thornton CEO Mike McGuire will assume the role of CEO emeritus, effective August 1, 2019. Bradley J. Preber will assume the position of interim CEO on that date.

Wells Fargo Names Clifford-Toomey New COO of Corporate Risk


Wells Fargo named Kate Clifford-Toomey chief operating officer for Corporate Risk, reporting to Chief Risk Officer Mandy Norton. Clifford-Toomey’s first day will be September 3, 2019.

Cannabis Grower SugarBud Enters $3.77MM Facility with Pillar Capital


SugarBud Craft Growers’ subsidiary, 1800905 Alberta, entered into a secured non-dilutive credit facility with Pillar Capital for up to C$5 million ($3.7695 million).

Amherst Advises on CVS Ritzman Pharmacy Acquisition


Ritzman Pharmacy has been acquired by CVS Health. Amherst Partners assisted Ritzman in successfully refinancing three years ago and served as financial advisor to Ritzman on the transaction.

PNC Upsizes Motorcar Parts of America Facility to $269MM


Motorcar Parts of America entered into an amended credit facility agreement led by PNC Bank, resulting in a new increased aggregate facility of approximately $269 million.

Regions Bank to Acquire Highland Associates


Regions Bank agreed to acquire Highland Associates, an institutional investment firm that provides investment counsel to not-for-profit healthcare entities and mission-based organizations.

BlackGold Provides Senior Secured Loan to Eastham Enterprises


BlackGold Capital Management completed a first lien senior secured term loan with Eastham Enterprises, a multi-generational oil field services company. The loan transaction included co-investors.

TradeCap Closes $3MM P/O Facility for Accessories Company


TradeCap Partners closed a $3 million purchase order funding relationship with a women’s accessory company in the Northeast.

Allied Provides $1.25MM in Receivables Financing to Startup


Allied Affiliated Funding closed $1.25 million in receivables financing for an Ohio-based, woman-owned startup company that provides frac sand and last mile logistics to the oil and gas industry.

B. Riley FBR Helps Raise Funds to Treat Diabetes


For the tenth year, B. Riley FBR supported the annual “Big Fighters, Big Cause” Charity Boxing Night, which raised over $500,000 to benefit the Sugar Ray Leonard Foundation.

June 7, 2019

Ares Management Expands Credit Group with Two New Hires


Ares Management’s Credit Group has hired Kevin Alexander and Scott Rosen to expand its credit group and focus on asset financing across alternative credit and the financial services industry.

JPMorgan Agents New $750MM Facility for Vishay


Vishay Intertechnology has entered into a new $750 million credit facility. JPMorgan served as administrative agent.

PNC, JPMorgan Expand Kemper Facility to $450MM


Kemper completed a new term loan credit agreement with an aggregate principal amount of up to $50 million and a $100 million increase of its revolving credit borrowing capacity to $400 million.

Marais to Lead Wells Fargo Asset Management


Nico Marais has been appointed chief executive officer and head of Wells Fargo Asset Management (WFAM), effective immediately.

Deutsche Upsizes TriplePoint Venture Revolver to $265MM


TriplePoint Venture Growth BDC increased its revolving credit facility to $265 million from $210 million Deutsche Bank served as administrative agent.

JPMorgan Supports Murphy Oil Gulf of Mexico Acquisition


Murphy Exploration & Production has closed the strategic deep water Gulf of Mexico acquisition from LLOG Exploration Offshore and LLOG Bluewater Holdings. JPMorgan agented a new $500 million term loan to support the transaction.

Fiorante Joins Hilco Global as CFO


Ernest M. Fiorante joined Hilco Global as CFO.

BofA Agents New $250MM Revolver for Fox Factory


Fox Factory Holding closed a new credit facility that includes a five-year $250 million senior-secured revolving line of credit. Bank of America served as administrative agent.

Gateway Provides $500K P/O Facility to Cocktail Mixer Company


Gateway Trade Funding provided a $500,000 purchase order facility to a company that makes cocktail mixers to enable it to fulfill an order from Walmart.

TAB Bank Provides $1.55MM Revolver to Food Company


TAB Bank provided a $1.55 million revolving credit facility for a foods company based in California.

June 6, 2019

WFCF Agents ABL to Support Variant Equity Coach USA/Canada Buy


An affiliate of Variant Equity Advisors acquired Coach USA and Coach Canada. Wells Fargo Capital Finance acted as administrative agent for the ABL facility provided for the acquisition.

Smith Succeeds Cohen as Firestone Financial CEO


Firestone Financial EVP/COO Michael Smith assumed the company’s top leadership position as CEO. He succeeds long-time CEO David Cohen.

Siena Closes $3MM Revolver for Community Eco Power


Siena Lending Group completed a $3 million asset-based revolving credit facility for Community Eco Power.

Count Joins Briar Capital as SVP/ Midwest Markets


Briar Capital has named commercial lending veteran Paul Count as senior vice president, Midwest Markets.

Commercial Finance Hires Buanno as Director of Operations


Commercial Finance Partners hired John Buanno to serve as director of Operations.

WFCF Completes Financing for Randa Acquisition of Haggar


Wells Fargo Capital Finance completed financing for Randa Accessories to acquire Haggar Clothing.

Continental Provides $1.85MM Facility to Casting Company


Continental Business Credit provided a $1.85 Million buyout and working capital facility to a Southern California-based casting company serving the commercial aerospace and defense industries.

Natixis Taps Kaiser as Managing Director, Senior Originator


Natixis hired James Kaiser as managing director, senior originator, infrastructure.

First Business Provides $6MM Facility to Footwear Retailer


First Business Capital completed a $6 million credit facility for a footwear retailer in Missouri.

InterNex Closes $500K Facility for Skincare Firm


InterNex Capital completed a $500,000 line of credit for a branded skincare and cosmetic product company.

June 5, 2019

Wells Fargo Unveils New Commercial Banking Structure


Wells Fargo revealed its new leadership team and regional structure for its Commercial Banking business, led by Kyle Hranicky, a 25-year company veteran.

BofA Agents $94.5MM DIP for FTD


FTD and all of its domestic subsidiaries have filed voluntary petitions commencing cases under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware to facilitate the company’s restructuring.

A&M Expands Cybersecurity and Forensic Technology Team


Alvarez & Marsal has expanded its cybersecurity and forensic technology offerings with the appointments of Rocco Grillo, Ken Mendelson, Kevin Negangard, Robert DeCicco and Vishal Oza.

Sidley Adds Newman to Global Restructuring Group


Sam Newman has joined Sidley Austin’s global Restructuring group as a partner in the Los Angeles office. He was previously a partner at Gibson, Dunn & Crutcher.

Crestmark Provides $81MM in Commercial Financing in H2/May


Crestmark provided more than $81 million in commercial financing to 88 companies in the second half of May 2019.

Citizens Leads ABL Facility for Burris Logistics


Citizens Commercial Banking led a senior secured asset-based revolving credit facility for Burris Logistics to support its acquisition of Trinity Logistics.

AlixPartners Adds Tech Risk Expert Roberts to Digital Team


Tim Roberts has joined AlixPartners as a managing director in the firm’s Digital practice. He is based in London and will focus on advising clients globally, with a special focus on the financial services industry.

Grant Thornton Names Herrmann West Region Tax Practice Leader


Grant Thornton  named Alan Herrmann the firm’s West region Tax Practice leader.

Madison Capital Supports High Road’s John Henry Foster Buy


High Road Capital Partners completed the acquisition of John Henry Foster Minnesota. Madison Capital Funding provided financing for the transaction.

BofA Agents $850MM Term Loan for LabCorp


LabCorp closed a two-year term loan credit facility in the principal amount of $850 million. Bank of America acted as administrative agent on the facility.

June 4, 2019

Affolter Joins White Oak as Managing Director/Originations


Tom Affolter has joined White Oak as a managing director based in Chicago.

Encina Expands Business Development Team With New Hires


Encina Business Credit hired Dan deBrauwere and Steve Janson as business development officers.

B. Riley FBR Names Baker Head of Capital Markets


B. Riley FBR promoted Jimmy Baker to head of Capital Markets.

InterNex Capital Closes Nine Transactions Totaling $19.7MM


InterNex Capital completed nine recent transactions totaling $19.75 million.

Marlin Taps Zircher to Lead Chicago Expansion


Marlin & Associates expanded its financial technology investment banking capabilities with the addition of Dan Zircher as an executive managing director and the opening of a Chicago office.

People’s United Upsizes 36th Street Capital Revolver to $125MM


36th Street Capital Partners expanded its three-year, senior secured revolving credit facility to $125 million, an increase of $25 million.

WFCF Leads Upsize of BMC Stock Holdings Facility to $425MM


BMC Stock Holdings has increased its senior secured credit agreement, which includes a revolving line of credit from $375 million to $425 million.

Garcia Named Regional President at Pinnacle Financial Partners


Pinnacle Financial Partners has named Mary Garcia as its new regional president for the South Carolina coast.

Crossroads Provides $4MM Revolver for Retailer


Crossroads Financial provided a $4 million inventory revolver for an Army and Navy store retailer.

Tradewind Provides $2.8MM Facility to Organic Food Producer


Tradewind delivered a $2.8 million export factoring facility to a Peru-based company that prepares and sells organic health food products.