Marquette Financial Companies announced the consolidation of two business units. The operations of Marquette Commercial Finance will be merged into sister company Marquette Transportation Finance.
American Capital announced it completed the sale of its portfolio company CIBT Solutions to ABRY Partners. American Capital received $215 million in cash proceeds from the sale.
Emtec, a systems integrator, has refinanced its existing credit facility with PNC Business Credit. In addition, the company announced an additional $3 million mezzanine investment by Peachtree Equity Partners.
First Capital announced Gerard Hanabergh has joined the company as executive vice president and chief credit officer. He joined from RBS/Citizens Financial where he was chief risk officer for the asset-based loan and leasing portfolios.
LBC Credit Partners is serving as administrative agent for a bifurcated lien term loan to American & Efird (A&E). The facility was used primarily to repay debt incurred in connection with last October’s acquisition of A&E by KPS Capital Partners.
Citigroup reported its net income declined 11% from Q4/10 to $1.2 billion in Q4/11, reflecting a $1.2 billion decline in Y/Y revenues, a $465 million increase in operating expenses and a $470 million increase in the provision for taxes.
Oxford Finance said it closed a $15 million round of debt financing with a provider of outsourced hospital services. The private equity-backed company plans to use the funds for the recapitalization of its business.
Reuters reported that the bankrupt parent of American Airlines has ignited bidding concentration by US Airways, Delta Airlines and private equity firm TPG Capital.
99-Cent Only Stores completed its acquisition by affiliates of Ares Management, Canada Pension Plan Investment Board and the Gold/Schiffer Family. RBC Capital Markets, BMO Capital Markets and Deutsche Bank Securities provided committed financing for the transaction.
Fitch Ratings has published its U.S. Retail Stats Quarterly for the third quarter of 2011. In 2012, Fitch expects total retail sales growth in the 4%-5% range, similar to growth in 2011.