Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/08 through 3/31/08.
| LENDER(S) & ROLE | BORROWER & INDUSTRY | AMOUNT* | STRUCTURE & NOTES | ||||
|---|---|---|---|---|---|---|---|
| Olin Metals Manufacturer/Copper |
Brass Products | Wachovia Capital Finance Lead Arranger, Admin Agen |
575.0 | Revolver |
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| Esmark Inc Producer/integrated Steel |
GE Corporate Lending Lead Lender |
500.0 | Revolver Replaces previous debt |
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| Mobilitie Partners LLC Owner/Telecommunications Towers |
GE Media, Communications & Entertainment Admin Agent |
425.0 | Revolver GE Capital Markets, TD Securities: joint bookrunners, joint lead arrangers |
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| Boise Cascade LLC Manufacturer/Engineered Wood Products |
Bank of America Business Capital Lender |
350.0 | Revolver Banc of America Securities: underwriter |
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| Pioneer Drilling Company Provider/Land Contract Drilling Service |
Wells Fargo Bank and Fortis Merchant Banking Lender |
350.0 | Revolver Five-year term/Supports The Wedge Companies acquisition |
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| Lord & Taylor Retailer/Department Store |
GE Corporate Lending Lender |
300.0 | Revolver Five-year term |
||||
| EaglePicher Corp Manufacturer/Advanced Technologies |
Industrial Products | GE Corporate Lending Lead Lender |
265.0 | Cash Flow Facility GE Capital Markets: arranger/Supports company recap |
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| Dan River Inc Designer/Textile Products |
GMAC Commercial Finance Lender |
255.0 | $55MM Revolver/$200MM Factoring Facility |
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| Allen-Vanguard Corp Provider/Hazardous Device Protection Solutions |
RBC Capital Markets Underwriter |
250.0 | $50MM Revolver/$200MM Term Loan Three-year term |
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| Wyle Labrotories Inc. Integrator/Federal Systems |
CIT Group Lender |
230.0 | Revolver CIT Aerospace & Defense Finance: joint lead arranger, joint lead bookrunner, syndication agent |
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| International Automotive Components Group North America Inc Supplier/Automotive Parts |
GE Corporate Lending Lender |
200.0 | Revolver GE Capital Markets: arranger |
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| Salton Inc Distributer/Appliances |
Pet | Personal Care Products | Bank of America Business Capital Lender |
200.0 | Revolver Banc of Securities: syndicator/Supports merger with APN Holding Company |
||
| Multi-Color Corporation Provider/Decorating Solutions |
Bank of America Agent |
200.0 | Revolver Five-year term/Supports Collotype International Holdings acquisition |
||||
| Steve & Barry's Retailer/Apparel |
Accessories | GE Corporate Lending Lender |
197.0 | Revolver GE Capital Markets: arranger |
|||
| National Dairy Holdings LP Processor/Dairy Products |
Wachovia Capital Finance Lead Arranger, Admin. Agent |
190.0 | Revolver |
||||
| Remington Arms Company Inc Manufacturer/Rearms |
Ammunition | Wachovia Capital Finance Lead Arranger, Admin. Agent |
180.0 | Revolver |
|||
| Transmontaigne Inc Distributor/Refined Petroleum Products |
Wachovia Capital Finance Lead Arranger, Admin. Agent |
175.0 | Revolver |
||||
| Longview Fibre Paper and Packaging Inc Manufacturer/Specialty Paper |
Containers | Bank of America Business Capital Lender |
170.0 | Revolver Banc of America Securities: syndicator |
|||
| Odyssey HealthCare Inc Operator/Medicare-certified Hospice Care Locations |
GE Healthcare Financial Services Lender |
160.0 | Revolver Supports acquisition of VistaCare |
||||
| Switch & Data Facilities Company Inc Provider/Internet Exchange |
Colocation Services | RBC Capital Markets, GE Corporate Lending Joint Lead Arrangers, Bookrunners |
157.0 | $15MM Revolver/$142.5MM Term Loans Royal Bank of Canada: admin. agent |
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| Horizon Technology Finance LLC Provider/Funds to Life Science |
Technology Companies | WestLB Lender |
150.0 | $150MM Revolver Compass Group Investments provided additional $50MM |
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| Odyssey HealthCare Inc Provider/Hospice Care |
GE Capital Lender |
150.0 | $30MM Revolver/$120MM Term Loan Supports VistaCare, Inc. acquisition/Revolver: five-year term; Term Loan: six-year term |
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| DG FastChannel Inc Provider/Digital Media Services |
BMO Capital Markets Lead Arranger |
145.0 | $30MM Revolver/$115MM Term Loans Six-year term/Participants: Wachovia, Webster Bank, Citibank, Fifth Third, First Tennessee, First Bank, Bank of the West |
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| Gerber Scientific Inc Supplier/Automated Manufacturing Systems |
RBS Greenwich Capital/RBS Citizens Sole Lead Arranger/Admin Agent |
125.0 | Revolver Five-year term/Sovereign Bank: documentation agent; JP Morgan, HSBC, Merrill Lynch, Bank of America participated |
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| Winner Steel Inc Producer/Galvanized Steel |
GE Corporate Lending Lender |
115.0 | Revolver GE Capital Markets: arranger/Deal Source: Novolipetsk Steel, Duferco Group |
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| MAG Industrial Automation Systems Group Manufacturer/Machine Tools |
Systems | GE Corporate Lending Lender |
110.0 | Revolver GE Capital Markets: arranger |
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| Duckwall-ALCO Stores Inc Operator/Discount Retailer |
Bank of America, Wells Fargo Retail Finance Lenders |
110.0 | Revolver Three-year term/Replaces previous debt |
||||
| Griffon Corp Manufacturer/Garage Doors |
J.P. Morgan Securities, JPMorgan Chase Bank Sole Lead Arranger, Sole Bookrunner |
100.0 | Revolver |
||||
| JTH Tax Inc (d/b/a Liberty Tax Service) Provider/Retail Tax Preparation |
SunTrust Robinson Humphrey/SunTrust Bank Sole Lead Arranger, Book Manager/Admin Agent |
100.0 | Revolver Five-year term/Participants: Wachovia, BofA, RBC Centura Bank, BB&T, Citizens, Commerce, First Tennessee, Comerica, Second Bank & Trust |
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| Cogdell Spencer Inc Investor/Specialty Medical Office Buildings |
KeyBank Lender |
100.0 | Term Loan BofA arranged $150 credit line/Supports acquisition of Marshall Erdman and Associates |
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| Concord Debt Holdings LLC Provider/Joint Venture Debt |
KeyBank Lender |
100.0 | Revolver |
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| Nautilus Inc Provider/Fitness Products |
Bank of America Business Capital Lender |
100.0 | Revolver Five-year term |
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| Filene's Basement Inc Retailer/Excess Merchandise |
National City Business Credit Lender |
100.0 | Revolver |
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| Nautilus Inc Provider/Fitness Products |
Bank of America Syndicator, Lender |
100.0 | Line of Credit Five-year term |
||||
| Nautilus Inc Provider/Fitness Products |
Bank of America Lender |
100.0 | Revolver Five-year term/Replaces previous facility |
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| Nautilus Inc Provider/Fitness Products |
Bank of America Lender |
100.0 | Revolver Five-year term/Replaces previous facility |
||||
| Rand Logistics Inc Provider/Bulk Freight Shipping Services |
GE Corporate Lending Lender |
98.7 | U.S./Canadian facilities GE Capital Markets: arranger |
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| EKR Therapeutics Inc Provider/Specialty Pharmaceutical Products |
GE Healthcare Financial Services Lender |
95.0 | $15MM Revolver/$80MM Term Loan A |
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| Midway Games Inc Developer/Interactive Entertainment Software |
National Amusements Lender |
90.0 | Revolver Replaces previous facility with Wells Fargo Foothill |
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| Kratos Defense and Security Solutions Inc Provider/Engineering |
Security | Surveillance | IT | War Fighter Solutions | KeyBanc Capital Markets Arranger |
85.0 | Revolver Supports Haverstick Consulting acquisition |
| GSI Commerce Inc Provider/E-commerce Solutions |
PNC Capital Markets Lead Lender |
75.0 | Revolver Participants: Bank of America (syndication agent), HSBC Bank, Sovereign Bancorp/Five-year term |
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| American Laser Centers Inc Provider/Laser Hair Removal |
Aesthetic Services | CapitalSource Lender |
70.0 | Revolver/Term Loan Deal Source: Code Hennessy & Simmons LLC and Edgewater Capital Partners |
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| The Blossman Companies Inc Distributor/Propane |
PNC Bank Lead Syndicator, Lender |
70.0 | $60MM Revolver/$10MM Term Loan |
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| Summit Electric Supply Co Inc Distributor/Electrical Materials |
Bank of America Business Capital Lender |
60.0 | Revolver |
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| Campus Management Corp Provider/Administrative Software Solutions |
Ares Capital Lead Arranger |
59.0 | Revolver/Term Loans Deal Source: Leeds Equity Partners |
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| Reading International Inc Operater/Multiplex Cinemas |
GE Media, Communications & Entertainment Admin. Agent |
55.0 | Acquisition Financing GE Capital Markets: sole lead arranger/Support cinema acquisitions |
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| ENK International Organizer/Fashion Industry Tradeshow |
GE Media, Communications & Entertainment Admin Agent |
55.0 | Revolver |
||||
| Westaff (USA) Inc Provider/Staffing Services |
U.S. Bank, Wells Fargo Syndicators |
50.0 | Revolver Five-year term/Replaces previous debt with GE Capital, BofA |
||||
| The Ensign Group Inc Provider/Skilled Nursing |
Rehab Services | Assisted Living | GE Healthcare Lender |
50.0 | Revolver |
||
| Wyle Labs Contractor/Government Services |
Ares Capital Sole Lead Arranger, Admin Agent |
50.0 | Second Lien Term Loan Supports RS Information Systems acquisition |
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| Nova Biosource Fuels Inc Provider/ASTM Standard Biodiesel |
WestLB Sole Arranger, Bookrunner, Admin Agent |
41.0 | $36MM Construction Loan/$5MM Working Capital Facility |
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| Back Bay Restaurant Group Inc Operator/Restaurants |
GE Franchise Finance Lender |
40.0 | $15MM Revolver/$25MM Term Loan |
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| Comstock Homebuilding Companies Inc Operator/Real Estate Development Firm |
KeyBank Lender |
40.0 | Revolver Three-year term/Supports refinancing |
||||
| GAPWEST Broadcasting LLC Owner/Radio Stations |
GE Media, Communications & Entertainment Sole Lender, Admin Agent |
33.0 | Revolver |
||||
| Von Weise Inc Manufacturer/AC/DC Motors |
Blowers | Actuators | Wachovia Capital Finance Sole Lender |
32.5 | Revolver/Term Loan |
||
| Findlay Industries Inc Supplier/Auto |
Truck Interior Parts | PNC Bank Lender |
30.0 | Revolver Refinances previous debt |
|||
| Corgi International Limited Provider/Collectibles |
Gifts | Toys | Burdale Financial Lender |
30.0 | Revolver Three-year term |
||
| Missouri Metals LLC Manufacturer/Specialty Metal Components |
Golub Capital Lender |
27.5 | Revolver Deal Source: Metal Spinners |
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| Elyria Foundry Co Manufacturer/Metal Casting |
Wachovia Capital Finance Sole Lender |
25.0 | Revolver |
||||
| Almost Family Inc Operates/Home Health Branches |
JP Morgan Chase Bank Lender |
22.5 | Revolver Supports Apex Home Healthcare Services acquisition |
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| Gulf Coast Machine & Supply Co Inc Provider/Forgings |
Monroe Capital Agent |
21.0 | Term Loan Supports company recap by Industrial Opportunity Partners |
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| Aerovance Inc Operator/Biopharmaceuticals |
Oxford Finance Lead Lender |
20.0 | Venture Debt Silicon Valley Bank, Comerica Bank participated |
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| Kowabunga Inc Provider/Interactive Advertising Networks |
Platforms | Wachovia Bank Lender |
20.0 | $15MM Revolver/$5MM Term Loan |
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| Helicos BioSciences Corp Provider/Genetic Analysis Technologies |
GE Healthcare Financial Services Lender |
20.0 | Revolver |
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| Louis Hornick & Co Inc Provider/Forgings |
Wachovia Capital Finance Sole Lender |
18.6 | Revolver/Term Loan Manufacturer/Window Treatments |
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| Wakefield Thermal Solutions Inc Manufacturer/Aluminum Extrusions |
Wachovia Capital Finance Sole Lender |
18.0 | Revolver/Term Loan |
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| Engineered Machined Products Inc Producer/Engine Cooling Pumps |
PNC Bank Lender |
17.0 | Revolver Refinances previous debt |
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| Merchant Cash and Capital LLC Provider/Merchant Advance Services |
The Patriot Group Lender |
17.0 | Revolver Two-year term |
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| CryoLife Inc Provider/Implantable Living Human Tissue Processing |
GE Healthcare Financial Services Lender |
15.0 | Revolver |
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| Winery Exchange Inc Provider/Premium Beverage Alcohol Brands |
CIT Commercial Services Sole Lender |
15.0 | Revolving Credit Line |
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| Aldila Inc Provider/Graphite Golf Shafts |
Key Bank Lender |
15.0 | Revolver/Term Loan Five-year term |
||||
| Visador Holding Corp and subsidiaries Holding Company |
PNC Bank Lender |
14.0 | Revolver Refinances existing debt |
||||
| Aacer Flooring LLC Producer/Flooring Products |
PNC Bank Lender |
14.0 | Revolver |
||||
| Wolf River Lumber Inc Producer/Lumber |
PNC Bank Lender |
13.0 | Revolver |
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| Agrifos Fertilizer Inc Manufacturer/Fertilizer |
Wachovia Capital Finance Sole Lender |
13.0 | Revolver Manufacturer/Window Treatments |
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| Cord Crafts Inc Supplier/Artificial Plants |
Flowers | Arrangements | PNC Bank Lender |
13.0 | $12MM Revolver/$1MM Term Loan Deal Source: Crystal Ridge Partners |
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| The Hines Group Inc and subsidiaries Holding Company |
PNC Bank Lender |
12.0 | $6MM Revolver/$6MM Term Loan Refinances existing debt |
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| Acushnet Rubber Co Manufacturer/Engineered Elastomeric Components |
Wachovia Capital Finance Sole Lender |
11.0 | Revolver Manufacturer/Window Treatments |
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| Workspace Outfitters Inc Provider/Remanufactured Office Furniture |
PNC Bank Lender |
10.7 | $10MM Revolver/$.7MM Term Loan Supports Smart Office Advisors and Modular Manufacturing Holdings acquisitions |
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| SatCon Technology Corp Manufacturer/Electronics |
generators/motors | Silicon Valley Bank Lender |
10.0 | Revolver |
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| Sportexe Construction Services Supplier/Official Turf System |
Wells Fargo Business Credit Lender |
10.0 | Credit Line Owner, Insight Equity, negotiated deal |
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| Archus Orthopedics Developer/Reconstructive Implants |
GE Healthcare Lender |
10.0 | Revolver |
||||
| ArborCraft LLC Manufacturer/Hardwood Flooring |
Bridge Finance Group Lender |
9.0 | Revolving Credit Line |
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| Epperson Lumber Sales Inc Distributor/Specialty Lumber |
PNC Bank Lender |
8.5 | Revolver |
||||
| K/P Corp Provider/Marketing Solutions |
CIT Commercial Services Sole Lender |
8.0 | Revolving Credit Line/Term Loan |
||||
| USfalcon Inc Provider/IT |
Engineering Services | Wachovia Capital Finance Sole Lender |
8.0 | Revolver |
|||
| Raritan Computer Inc Provider/KVM products |
Power | Server | Network Monitoring | Wachovia Capital Finance Sole Lender |
6.5 | Revolver |
|
| Avon Automotive Supplier/Low-Pressure Rubber |
Plastic Hoses | Burdale Capital Finance Lender |
6.5 | Revolver |
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| The Muralo Company Inc Manufacturer/Paint |
Wachovia Capital Finance Sole Lender |
6.0 | Revolver/Term Loan |
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| SPACEHAB Inc Provider/Products |
Services to Space Industry | Green Bank Lender |
6.0 | $2MM Revolver/$4MM Term Loan Three-year term/Supports company restructuring |
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| Symons Frozen Foods Inc Processor/Frozen Berries |
Peas | Corn | Marquette Business Credit Lender |
5.7 | Revolving Credit Line |
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| Cascade Metal Forming Inc N/A |
PNC Bank Lender |
5.5 | $3MM Revolver/$2MM Term Loan/.5MM CAPEX Facility Supports Tri-Fab Associates acquisition |
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| GSE Systems Inc Provider/Training Simulators |
Educational Solutions | Bank of America Lender |
5.0 | $3.5MM Foreign A/R/$1.5MM Domestic A/R Replaces Laurus Master Funds line of credit |
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| The Moving Station Lender Provider/Relocation Services |
Proficio Bank Working Capital |
5.0 | Revolving Credit Line |
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| Paul Frank Industries Inc Designer |
Retailer/Apparel | New Stream Capital Lender |
5.0 | Term Loan |
|||
| Patrick Hackett Hardware Company Operator/Department Store |
Wells Fargo Business Credit Lender |
5.0 | Credit Line |
||||
| Vaughan Foods Inc Provider/Vegetables |
Fruit products | Prepared Foods | International Bank of Commerce Lender |
5.0 | Revolver Three-year term |
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| Olhausen Billiard Manufacturing Inc Manufacturer/Billiard Tables |
Bridge Business Bancorp Lender |
4.5 | Revolver |
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| Kineticom Inc Provider/Staffing Talent |
Capital TempFunds Lender |
4.0 | Revolver |
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| Pivot Inc Provider/Real-Time Collaboration Network |
MMV Financial Lender |
3.0 | Revolver |
||||
| American Escrow and Closing Company Provider/Domestic |
International Relocation Assistance | Proficio Bank Lender |
3.0 | Credit Line |
|||
| EP MedSystems Inc Lender Manufacturer/Cardiac Rhythm Management Products |
Keltic Financial Partners Lender |
3.0 | $1.5MM Revolver/$1.5MM Term Loan Three-year term |
||||
| Continuum Transportation Services Inc Provider/Logistics Services |
Marquette Business Credit Lender |
2.5 | Revolver |
||||
| Global Telecom & Technology Inc Operator/Multi-Network |
Silicon Valley Bank Lender |
2.0 | Revolver |
||||
| US Standard Enterprise Corp Distributor/Pasteurized Crabmeat |
Frozen Sea Bass | Marquette Commercial Finance Lender |
2.0 | Revolver |
|||
| Optimira Energy Inc Provider/Energy Services |
Moriah Capital Lender |
2.0 | Revolving Line of Credit |
||||
| Beacon Enterprise Solutions Group Inc Provider/Technology |
Telecommunications Services | Integra Bank Lender |
1.1 | $.6MM Term Loan/$.5MM Credit Line Supports Dataside acquisition |
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| Lyrtech Inc Manufacturer/Digital Signal Processing Solutions |
Finexcorp Lender |
1.1 | A/R Facility |