Xplore Technologies, a manufacturer of rugged tablet PCs, has amended its accounts receivable purchase agreement with DSCH Capital Partners, (d/b/a Far West Capital), to increase the maximum amount of accounts receivable that Far West could purchase under the facility from $4.75 million to $8.5 million.
Jones Soda has entered into a secured credit facility with Access Business Finance, pursuant to which the company, through two of its wholly owned subsidiaries, may borrow a maximum aggregate amount of up to $2 million.
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.
Fitch Ratings said it projects that the U.S. high-yield default rate will rise in 2012 to a range of 2.5%-3.0%, up from 2010’s 1.3% rate and this November’s 1.4% level.
Levine Leichtman Capital Partners has partnered with management to complete the acquisition of Lawn Doctor, a franchisor of lawn care services. Fifth Third Bank provided senior debt financing.
Crestmark provided $13.175 million in working capital facilities to 24 businesses in December 2011.
Graystone Capital has provided an accounts receivable line of credit to Code Green Networks, a provider in advanced data loss prevention solutions.
The Pittsburgh Post-Gazette reported that former Le-Nature’s president Robert B. Lynn was sentenced to 15 years in prison for his role in the company’s financial fraud. Tammy Andreycak, the accounting director whose cooperation with federal agents was key for the prosecution, was sentenced to five years in prison.
Coach America Holdings and its subsidiaries have filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the District of Delaware. Coach America obtained a commitment for $30 million of DIP financing from a steering committee of its existing senior lenders, led by JPMorgan Chase.