Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/07 through 9/30/07.
| LENDER(S) & ROLE | BORROWER & INDUSTRY | AMOUNT* | STRUCTURE & NOTES | |||
|---|---|---|---|---|---|---|
| Exterran Holdings | Inc. Provider/Natural Gas Compression |
Production | Wachovia Capital Markets, J.P. Morgan Securities Joint Lead Arranger |
1650.0 | $850MM five-year Revolver/$800MM million Term Loan New company results from Universal, Hanover Compressor merger/Wachovia Bank, JPMorgan Chase Bank, Bank of America, Calyon New York, Fortis Capital participated |
|
| Pro-Build Holdings | Inc. Supplier/Building Materials |
Wachovia Capital Finance Lead Arranger, Admin. Agent |
1500.0 | Revolver |
||
| Finlay Enterprises | Inc. Retailer/Fine Jewelry |
GE Capital Markets, GE Corporate Lending Sole Lead Arranger |
550.0 | Revolver Five-year term/Supports Zale Bailey Banks & Biddle Division acquisition |
||
| Brightstar Corp. Provider/Distribution |
Supply Chain Solutions | PNC Bank Lead Lender |
500.0 | Revolver |
||
| RadNet | Inc. Provider/Diagnostic imaging services |
GE Healthcare Financial Services Sole Lead Arranger/Bookrunner, Admin Agent/Sole Lender |
445.0 | $45MM Revolving line of credit/$400MM term loan Refinances previous debt |
||
| Westgate Resorts Provider/Resort |
Timeshare Industry | Textron Financial Co-Lender |
400.0 | Construction, Development Loan Supports plans for a Planet Hollywood Towers in Las Vegas |
||
| Maxim Crane Works Holdings | Inc. Crane rental company |
Bank of America Admin. Agent, Collateral Agent |
390.0 | $340MM Term Loan/$50MM Revolver |
||
| VISTAR Corp. Distributor/Food Products |
Supplies | Wachovia Capital Finance Agent, Co-Lead Arranger |
350.0 | Revolver |
||
| Neff Corp. Provider/Earthmoving equipment |
Bank of America Business Capital Lender |
350.0 | Revolver Supports acquisition by Lightyear Capital |
|||
| Lightower Operator/Communications Infrastructure Portfolio |
GE Capital Markets Sole Bookrunner, Sole Lead Arranger |
250.0 | Revolver GE Media: Admin. Agent |
|||
| Woodstream Corp. Manufacturer/Consumer |
Professional Products Portfolio | GE Capital Markets Sole Lead Arranger, Sole Bookrunner |
208.0 | $65MM Revolver/$143.75MM Term Loan GE Antares Capital: admin. agent/Supports company recap |
||
| CAI International | Inc. Lessor/Intermodal Freight Containers |
Bank of America Lead Lender |
200.0 | Revolver Five-year term/Replaces previous $170MM Revolver |
||
| Haggar Clothing Co. | Inc. Marketer/Men's |
Women's Apparel | Wachovia Capital Finance Lead Arranger, Admin. Agent |
200.0 | Revolver |
|
| Odyssey Re Holdings Corp. Underwriter/Reinsurance |
insurance | Wachovia Capital Markets/KeyBanc Capital Markets Joint Lead Arrangers |
200.0 | Revolver Five-year term |
||
| Esmark | Inc. Provider/Cold rolled |
coated steel products | GE Commercial Finance Corporate Lending Lender |
150.0 | Revolver GE Capital Markets: co-lead arranger |
|
| Tharco Containers | Inc Manufacturer/Corrugated |
foam | plastic packaging solutions | GE Antares Capital, GE Capital Markets Lead Lenders |
145.0 | Revolver Supports Design Packaging, Inc. acquisition |
| Remington Arms Company | Inc. Manufacturer/Firearms |
Wachovia Capital Finance Lead Arranger, Admin. Agent |
140.0 | Revolver |
||
| Enterprise Media Group Provider/Lead Generation Services - IT |
GE Media Admin. Agent |
137.0 | Revolver Support Ziff Davis Media's Enterprise Group acquisition |
|||
| Universal Hospital Services | Inc. Lessor/Medical equipment |
Wachovia Capital Finance Co-Lead Arranger |
135.0 | Revolver |
||
| Icelandic USA | Inc. Processor |
importer/Seafood | Bank of America Business Capital Lender |
130.0 | Revolver |
|
| Modern Luxury Media | LLC Publisher/Luxury lifestyle magazines |
NewStar Financial, Credit Suisse Securities Joint Arrangers |
125.0 | Revolver Supports buyout by Clarity Partners/Participants: BNP Paribas, Merrill Lynch Capital |
||
| Graham Partners | Inc. Lower middle-market industrial private equity firm |
GE Capital Markets Sole Lead Arranger, Bookrunner |
118.0 | $15MM Revolver/$103MM Term Loan GE Antares: admin agent/Supports Schneller, Inc. acquisition |
||
| Graham Partners | Inc. Lower middle-market industrial private equity firm |
GE Capital Markets Sole Lead Arranger, Bookrunner |
118.0 | $15MM Revolver/$103MM Term Loan GE Antares: admin agent/Supports Schneller, Inc. acquisition |
||
| Industrial Growth Partners Private Equity Firm |
GE Capital Markets Sole Lead Arranger, Bookrunner |
113.0 | $20MM Revolver/$93MM Term Loan GE Antares Capital: admin. agent/Supports API Heat Transfer Holding Co. acquisition |
|||
| International Logging | Inc. Provider/Mud Logging Services |
NewStar Financial Lead Arranger, Admin. Agent |
104.0 | $15MM Revolver/$89MM Term Loans Supports acquisitions/Citigroup Global Markets, FirstLight Financial, Golub Capital, others participated |
||
| Harris Interactive Inc. Provider/Market Research |
J.P. Morgan Securities/JPMorgan Chase Bank Sole Bookrunner, Sole Lead Arranger/Admin. Agent |
100.0 | $25MM Revolving Line of Credit/$12MM Term Loan/$63MM Multiple Advance Term Loan Replaces previous debt with JPMorgan |
|||
| Haggar Clothing Co. | Inc. Marketer/Men's |
Women's Apparel | Wachovia Capital Finance Lead Arranger, Admin. Agent |
100.0 | Revolver |
|
| Orbital Sciences Corporation Manufacturer/Small Space |
Rocket Systems | Citi/Bank of America, Wachovia Bank, PNC Bank, Sovereign Bank Lead Lender/Lenders |
100.0 | Revolver Five-year term/Replaces previous debt |
||
| Take-Two Interactive Software | Inc. Distributor |
Publisher/Interactive software games | Wells Fargo Foothill Lender |
100.0 | Revolver Five-year term |
|
| DG FastChannel | Inc. Provider/Digital media services |
BMO Capital Markets/Wachovia Bank Lead Arranger/Agent |
95.0 | $40MM Revolver/$45MM Term Loan Five-year term/Supports GTN, Inc. acquisition |
||
| OSI Systems | Inc. Manufacturer/Specialized electronic systems |
components | Wachovia Bank Lender |
90.0 | $45MM Revolving Line of Credit/$45MM Term Loan Replaces previous debt |
|
| Werner Co. Manufacturer/Fiberglass |
aluminum | wood climbing products | Bank of America Business Capital Lender |
90.0 | Revolver Supports acquisition by Black Diamond Capital Management |
|
| Atwood Mobile Products | LLC Manufacturer/Appliance |
Window | Glass Products | Merrill Lynch Capital Sole Lead Arranger, Admin. Agent |
85.0 | Revolver Supports acquisition by Insight Equity |
| Tweeter Newco | LLC Retailer/Electronics |
Wells Fargo Retail/Schultze Asset Management Lenders |
80.0 | $60MM Revolver/$20MM Term Loan |
||
| DLJ Merchant Banking Partners Private equity investor |
GE Antares Admin. Agent |
80.0 | Revolver Supports RathGibson Inc. acquisition |
|||
| Kohlberg & Company LLC Private Equity Firm |
GE Capital Markets Sole Lead Arranger |
80.0 | Revolver Supports Trico Products acquisition/GE Antares Capital: admin agent |
|||
| Container Store | Inc. Provider/Storage |
Organization Products | Wachovia Capital Finance Co-Lead Arranger, Documentation Agent |
75.0 | Revolver |
|
| Android Industries | LLC Sub-assembler/Complex automotive modules |
Bank of America Business Capital Lender |
75.0 | Revolver |
||
| Chicago Growth Partner LP Private equity investment firm |
GE Antares Capital Admin. Agent |
71.0 | $10MM Revolver/$61MM First Lien Term Loan Supports Jonathan Engineered Solutions acquisition |
|||
| Pennant Foods Corp. Operator/96 Wendy's restaurants |
Merrill Lynch Capital Sole Lead Arranger, Admin. Agent |
67.5 | Revolver Executed by: Merrill Lynch Capital's Franchise Finance |
|||
| SMTC Corp. Provider/Electronics manufacturing services |
Wachovia Capital Finance, Monroe Capital Lenders |
61.5 | $40MM Revolver/$21.5MM Term Loan Five-year term/Replaces previous debt |
|||
| Nautic Partners LLC Private Equity Firm |
GE Capital Markets Sole Lead Arranger, Sole Bookrunner |
61.0 | $20MM Revolver/$41MM Term Loan Supports Prince Sports acquisition/GE Antares Capital: admin agent |
|||
| Euro-Pro Operating LLC Distributor/Cleaning |
Linen Products/Small Kitchen Appliances | Bank of America Business Capital Lender |
60.0 | Revolver |
||
| Performance Bicycle | Inc. Operator/Mail order |
retail bicycle company | GE Antares Capital Admin. Agent |
60.0 | Revolver Supports acquisition by North Castle Partners |
|
| Betsey Johnson Retailer/Women's Apparel |
Accessories | Paradox Capital Lender |
50.0 | Revolver Supports acquisition by Castanea Partners |
||
| Del-Nat Tire Corp. Distributor/Tires |
Wachovia Capital Finance Sole Lender |
50.0 | Revolver |
|||
| IFC Credit Corp. Lessor/Equipment |
HSH Nordbank Lender |
50.0 | Term Loan/Warehouse Facility |
|||
| Effigi | Inc. Distributor/Clothing |
Wachovia Capital Finance Lender |
50.0 | Revolver |
||
| Virtual Radiologic Corporation Provider/Teleradiology Services |
NewStar Financial Lead Arranger |
45.0 | Revolver/Term Loan Supports company recap |
|||
| Shemin Nurseries | Inc. Distributor/Nursery products |
GE Capital Markets Sole Lead Arranger, Bookrunner |
45.0 | $22MM Revolver/$23MM Term Loan GE Antares: admin. agent/Supports company recap |
||
| Winchester Electronics Corp. Manufacturer/Electronic connectors |
NewStar Financial Lead Arranger, Admin. Agent |
42.0 | $5MM Revolver/$5MM Term Loan A/$32MM Term Loan B Supports Kings Electronics acquisition/Highpoint Capital participated |
|||
| Anna's Linens | Inc. Provider/Home Fashions |
Union Bank of California Lender |
40.0 | Revolver Supports future growth |
||
| SureSource LLC Provider/Solutoins for Consumer e-Commerce |
Merrill Lynch Capital Sole Lead Arranger and Admin. Agent |
38.0 | Revolver Supports acquisition by Veronis Suhler Stevenson |
|||
| Internap Network Services Corporation Provider/Internet Solutions |
Bank of America Lender |
35.0 | $5MM Revolver/$30MM Term Loan Four-year term |
|||
| MTM Technologies Inc. Provider/IT Solutions |
Services | GE Distribution Finance Lender |
34.0 | $20MM Revolver/$14MM Inventory Facility Replaces previous CIT, Textron facility |
||
| Multy Industries | Inc. Manufacturer/Floor mats |
Wachovia Capital Finance Lender |
32.5 | Revolver/Term Credit |
||
| Comm-Works Holdings | LLC Provider/Enterprise voice |
data | voice over IP solutions | Monroe Capital/Marshall and Ilsley Bank Lender/Agent |
31.6 | Revolver Supports Harbor Solutions acquisition |
| Advocat Inc. Provider/Long-term care services |
LaSalle Bank Lender |
31.5 | $15MM Revolver/$16.5MM Term Loan Supports SMSA acquisition |
|||
| Corporate Travel Holdings | Inc. Holding company |
Monroe Capital/Merrill Lynch Business Financial Services Lender/Agent |
31.0 | Revolver Supports Tzell Travel, LLC acquisition |
||
| General Insulation Co. | Inc. Manufacturer/Building materials |
Wachovia Capital Finance Lender |
31.0 | Revolver |
||
| Graebel Relocation Services Worldwide | Inc. Provider/Corporate Relocation Services |
Proficio Bank Lender |
30.0 | Off Balance Sheet Facility |
||
| AmCOMP | Inc. Insurance Holding Company |
Regions Bank Lender |
30.0 | Line of Credit |
||
| CDM MSX | LLC Provider/Natural Gas |
Merrill Lynch Capital Sole Lead Arranger, Admin. Agent |
30.0 | Revolver Supports refinancing of company |
||
| MicroFinancial | Inc. Provider/Vendor-based leasing |
finance programs | Sovereign Bank Lender |
30.0 | Revolving Line of Credit Three-year term/Replaces previous debt |
|
| MediZine | LLC Publisher/Health |
wellness magazines | Merrill Lynch Capital Sole Lead Arranger, Admin. Agent |
30.0 | Revolver Supports refinancing |
|
| Emergent BioSolutions Inc. Biopharmaceutical company |
HSBC Realty Credit Corp. Lender |
30.0 | Revolver Five-year term |
|||
| Dexter Magnetic Technologies Provider/Magnetic Solutions |
NewStar Financial Lender |
27.0 | Revolver Supports company recap |
|||
| Professional Disposables International | Inc. Manufacturer/Disposable Medical Products |
Wachovia Capital Finance Sole Lender |
25.0 | Revolver |
||
| PowerSecure International | Inc. Provider/Energy Management |
Conservation Solutions | Citibank Lender |
25.0 | Revolver, Term Credit |
|
| eTelecare Global Solutions | Inc. Provider/Business process outsourcing |
Wells Fargo Bank Lender |
25.0 | Revolver |
||
| Telsima Corporation Provider/Broadband wireless access |
mobility solutions | SVB Silicon Valley Bank Lender |
25.0 | Working Capital Debt Financing |
||
| Patterson Vegetable Company | LLC Processor/Frozen vegetables |
fruits | U.S. Bank Business Credit Lender |
25.0 | Revolver Supports company acquisition |
|
| Butler International | Inc. Provider/TechOutsourcing services |
Monroe Capital Lender |
23.0 | Term Loan |
||
| SMTC Corporation Provider/Electronics Manufacturing Services |
Monroe Capital Sole Arranger, Agent |
21.5 | Term Loan Refinances previous debt |
|||
| Top Flight | Inc. Manufacturer/Paper-based school |
office supplies | Webster Business Credit Lender |
20.5 | Revolver Three-year term |
|
| Gateway Energy Corp. Operator/Natural Gas Systems |
Western National Bank Lender |
20.0 | Revolver Supports Gulfshore Midstream Pipelines acquisition |
|||
| Gateway Energy Corporation Operator/Natural Gas Transportation |
Distribution Systems | Western National Bank Lender |
20.0 | Revolver |
||
| Sharper Image Corporation Retailer/Specialty Items |
Wells Fargo Retail Finance Lender |
20.0 | Term Loan |
|||
| Riverside Manufacturing | Inc. Producer/Wiring Harnesses |
LED Lighting | etc. | Crsatos Capital Partners Lender |
20.0 | $2.5MM Revolver/$17.5MM Term Loan A Supports Transportation Safety Technologies acquisition |
| East-West Staffing | LLC/MB Payroll & Administrative Services | LLC Provider/Temporary Employee Placement |
Sovereign Bank Asset Based Lending Lender |
16.0 | Revolver Refinances previous debt |
|
| Environmental Tectonics Corp. Developer/Simulation |
training | etc. systems | PNC Bank Lender |
15.0 | $15MM Revolving Line of Credit Two-year term |
|
| Purcell Systems | Inc. Provider/Customized equipment enclosures |
Hercules Technology Growth Capital Lender |
15.0 | Venture Debt |
||
| Delphax Technologies Inc. Provider/Digital Print Production Systems |
Wells Fargo Business Credit Lender |
13.7 | $13MM Revolver/$653,000 Term Loan Four-year ter |
|||
| Oscar de la Renta Provider/Fashion apparel |
accessories | Webster Business Credit Lender |
12.2 | Revolver/Term Loan Five-year term |
||
| East West Plastic & Electric Products Ltd. Distributor /Sign products |
U.S. Bank Business Credit Lender |
11.0 | $10MM Revolver/$1MM Over Advance Supports company acquisition |
|||
| Princess House Direct seller/Cooking |
dining | home entertainment products | Webster Business Credit Lender |
10.6 | Revolver/Term Loan Three-year term |
|
| Performance Sports Apparel | Inc. Distributor/Sports Apparel |
Wachovia Capital Finance Sole Lender |
10.0 | Revolver |
||
| Sea Link International | Inc. Manufacturer/metal stampings |
projector assemblies | etc. | North Fork Business Capital Lender |
10.0 | Revolver Supports company recap |
| ConforMIS | Inc. Developer/Patient-specific orthopedic implants |
Merrill Lynch Capital Lender |
10.0 | Debt Facility |
||
| Crane Cams Inc. Manufacturer/Performance Automotive Parts |
Wachovia Capital Finance Sole Lender |
9.9 | Revolver |
|||
| LB Roundy & Associates Wholesaler/Promotional Items |
U.S. Bank Business Credit Lender |
9.0 | Revolver Refinances previous debt |
|||
| Trammell Crow Company Developers/Real Estate |
NewStar Financial Lender |
8.7 | First Mortgage Loan Financing for Northwest Corporate Center |
|||
| Control Devices Manufacturer/Specialty valves |
Wachovia Capital Finance Lender |
8.0 | Revolver |
|||
| Northman Holdings | Inc. Provider/Hardware products |
Wachovia Capital Finance Lender |
8.0 | Revolver |
||
| International Wood | LLC Importer/Wood Blind Components |
Marquette Business Credit Lender |
7.5 | Revolver |
||
| High Street Capital Provider/Capital |
Operating Expertise | Patriot Capital Lender |
7.5 | $7.25MM Subordinated Debt Supports Mac & Massey acquisition |
||
| Managed Objects | Inc. Provider/Business Service Management |
ORIX Venture Finance Lender |
7.5 | $2.5MM Revolver/$5MM Term Loan |
||
| Quartics | Inc. Provider/Video processing solutions |
Hercules Technology Growth Capital Lender |
7.5 | Venture Debt |
||
| Serious USA | Inc. Publisher/Media technology |
Hercules Technology Growth Capital Lender |
7.0 | Venture Debt |
||
| Berkshire-Westwood Graphics Group | Inc. Distributor/graphic arts industry products |
Business Alliance Capital Company Lender |
6.5 | A-R/Inventory facility |
||
| Emerging Vision | Inc. Provider/Eye care products |
services | Manufacturers and Traders Trust Corp. Lender |
6.0 | Revolver Two-year term/Replaces previous debt |
|
| Deep Down | Inc. Provider/Innovative Umbilical & Subsea Solutions |
Prospect Capital Lender |
6.0 | Revolver Four-year term/Supports company recap |
||
| Pacer Health Corp. Operator/Healthcare facilities |
Cornell Capital Partners Lender |
5.5 | Revolver Five-year term |
|||
| Cryptek | Inc. Manufacturer/Security Solutions |
Wachovia Bank Lender |
5.0 | Revolver |
||
| Medmark Services | Inc. Operator/Out-Patient Clinics |
Healthcare Finance Group Lender |
5.0 | Revolver |
||
| Allstar Magnetics | Inc. Manufacturer/Magnetic component parts |
Webster Business Credit Lender |
5.0 | Revolver Three-year term |
||
| Private Label Cosmetics Manufacturer/Cosmetic products |
Marquette Business Credit Lender |
4.8 | $4.8MM Revolving Line of Credit/Equipment Term Loan |
|||
| S&L Plastics | Inc. Injection molding company |
Business Alliance Capital Company Lender |
4.5 | A-R/Inventory facility/Term Loan |
||
| Cryotech International | Inc. Distributor/Injection systems |
transfer systems | Business Alliance Capital Company Lender |
3.5 | A-R/Inventory facility/Term Loan Refinances previous debt |
|
| BioStorage Technologies | Inc. Provider/Biomaterials storage |
GE Healthcare Financial Services Lender |
3.3 | CAPEX Lease Line of Credit |
||
| International Wood | LLC Importer/Wood Blind Components |
Marquette Business Credit Lender |
3.0 | Revolver |
||
| K.C.K. Tool & Die Co. Manufacturer/Tools |
die products | Platinum Funding Group Lender |
3.0 | Factoring Facility |
||
| Prism Education Group | Inc. Provider/Training programs post-secondary education |
Hercules Technology Growth Capital Lender |
3.0 | Venture Debt |
||
| CPI Aerostructures | Inc. Provider/Engineering |
technical | program management services | Sovereign Bank Lender |
2.5 | Revolver Two-year term/Replaces previous debt |
| Rudder Capital Corporation Provider/Internet Protocol Service |
Moriah Capital Lender |
2.0 | $1MM Revolver/$1MM Term Loan |
|||
| Agility Healthcare Solutions Provider/Automated workflow |
resource management solutions | Square 1 Bank Lender |
2.0 | Revolver |
||
| Custom Coils | Inc. Manufacturer/Heat exchangers |
Marquette Business Credit Lender |
1.5 | Revolving Line of Credit |