Traditional communications and information services and technology companies continue to experience strong growth increases in underlying demand, driving the need for capital in the industry, according to Tom Westdyk, managing director of CIT Communications, Media and Entertainment.
High Road Capital Partners has sold Milwaukee Gear Company for $80 million, marking the first exit for the firm’s debut fund, High Road Capital Partners Fund I.
David Morris International, a London-based jeweler, secured a £15 million asset-based loan from RBS Invoice Finance to support the company’s global expansion plans. Hilco Appraisal Europe was called upon to provide inventory valuation.
Crestmark provided $7.825 million in working capital facilities to 14 businesses in January 2012.
GA Keen Realty Advisors announced that the sale of the former home to H&H Bagels in New York City closed on February 2, 2012 at the price of $11 million. GA Keen was hired to solicit and negotiate the stalking-horse contract and market the property for higher and better offers.
MidCap Business Credit has appointed Mark Schroeder to its business development team. He is a vice president and will cover the Midwest and Great Lakes regions. Schroeder has spent the last 18 years in asset-based finance.
TNS has completed a refinancing of its existing senior secured credit facilities. SunTrust Robinson Humphrey and Bank of America Merrill Lynch, at the company’s direction, acted as joint lead arrangers for the new credit facility.
First Growth Capital announced that it has provided an $8 million working capital credit facility to a Mid-Western staffing company.
The Commercial Finance Association announced it has launched a nationwide search to find a new chief executive officer. CFA first vice president Michael Haddad has been appointed to oversee the search process.
Advanced Photonix has established a new credit facility with Silicon Valley Bank. The new credit facility is initially comprised of a three-year term note of $1 million, and a two-year $5 million revolving line of credit.