According to the Small Business Administration, small businesses received a greater volume of SBA-backed loans last year than ever before. Under the program, a record sum of $19.6 billion was issued in fiscal 2011.
Economic activity in the manufacturing sector expanded in December for the 29th consecutive month, and the overall economy grew for the 31st consecutive month, said the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Tiger/Daley-Hodkin’s auction of the assets of the Kullman Building generated proceeds of 30% above the court-appraised value, according to Jeff Tanenbaum, president of Tiger’s Remarketing Services Division.
Norwest Equity Partners has made a significant investment in Actagro, a developer, manufacturer and marketer of organic liquid and specialty plant nutrients. Norwest Mezzanine Partners, GE Antares Capital and Madison Capital Funding participated in the financing for this transaction.
Main Street Capital has completed a new portfolio investment, consisting of $12.1 million in first lien secured debt and a $2.9 million direct equity investment, in NRP Jones, which supported the acquisition of the NRP group of companies by Main Street and a group of private investors.
Prospect Capital provided $31.1 million of senior secured debt to VanDeMark Chemical. Separately, Prospect provided $8 million of senior secured debt to a provider of non-destructive testing services, and also provided $52 million in secured financing to three separate existing portfolio companies.
Main Street Capital has exited its debt and equity investment in Merrick System. Main Street Capital exited when HitecVision, a Norwegian-based private equity investor, took a majority stake in Merrick.