According to Grant Thornton’s Q1 2024 CFO survey, more than one-third (34%) of CFOs are “very optimistic” about the U.S. economy, marking an 11-quarter high for the survey. At the same time, 12% of CFOs said they were pessimistic, marking an 11-quarter low.
First Horizon will promote Thomas Hung from executive vice president and head of franchise finance to senior executive vice president and chief credit officer, effective Oct. 1. Hung will succeed Susan Springfield, who has served in the role since 2013 and will retire.
Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of TouchMath by Leeds Equity Partners.
Koppers Holdings, a provider of treated wood products, wood treatment chemicals and carbon compounds, completed the repricing and upsizing of its secured term loan B, increasing the principal balance to $497 million. Wells Fargo is acting as administrative agent for the term loan.
Great Rock Capital provided $33 million of capital through a senior secured credit facility to a sponsor-owned pharmaceutical manufacturing and packaging company.
Rosenthal & Rosenthal completed an $11 million asset-based lending transaction for a seafood importer and distributor. In 2023, the seafood company found itself in a turnaround situation with a highly concentrated customer. The client’s Chicago-based turnaround consultant brought in Rosenthal as a potential financing partner.
Wintrust Financial entered a definitive agreement to acquire Macatawa Bank Corporation, the parent company of Macatawa Bank, a Michigan state-chartered bank, in an all-stock transaction valued at approximately $510.3 million.
Mountain Ridge Capital provided a $24 million senior secured credit facility to a fashion apparel distributor. The facility refinanced the debt of another lender and will be utilized to manage through working capital cyclicality and support new business growth.
Tracey A. Zaccone and Justin Rosenberg joined law firm Latham & Watkins’ New York office as partners in the hybrid capital and mergers and acquisitions and private equity practice, respectively.
Solifi completed its integration with Codat, a provider of enhanced-connectivity automated solutions. Using pre-built APIs, the integration with Codat permits consented business data to securely integrate into operational systems in real-time, with the aim of providing assed-based lending customers a more comprehensive view of risk.