Category: News

Former CEO of GDC Acquisitions Found Guilty of Fraud

A federal jury returned guilty verdicts against Courtney Dupree, the former CEO of GDC Acquisitions. Dupree was found guilty of bank fraud against Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.

Maryland Governor Asks Immelt to Unfreeze R.G. Steel Funds

The Baltimore Sun reported that Maryland Governor Martin O’Malley has asked GE chairman and CEO Jeffrey Immelt to reconsider GE Capital’s decision to freeze some of R.G. Steel’s funds, saying the move has contributed to the firm’s decision to lay off workers.

The Sterling Group Acquires Liqui-Box From DuPont

The Sterling Group announced that its affiliated investment fund, Sterling Group Partners III, completed the acquisition of Liqui-Box from DuPont. The acquisition was financed with equity from Sterling Group Partners III. BNP Paribas and BMO provided senior debt financing, and Oaktree Capital Management provided mezzanine debt.

North Mill Capital Acquires PrinSource Capital

North Mill Capital has acquired PrinSource Capital Companies, a provider of factoring and asset-based loans in the Midwest. North Mill received an equity investment from its current shareholders, led by Monitor Clipper Partners, and a material increase in its debt credit facility led by IDB Bank of New York.

American Red Cross Appoints NHB’s Hays as Chairman of Board

NHB Advisors announced that founding principal, Thomas D. Hays, was appointed chairman of the Board of Directors for the American Red Cross Southeastern Chapter of Pennsylvania (SEPA). The official announcement came during the Red Cross Chapter’s Annual Meeting held on Wednesday, September 21, 2011.