Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/12 through 3/31/12.
| BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES | |||
|---|---|---|---|---|---|---|
| Life Technologies Manufacturer/Molecular Diagnostic |
Research Use Only Products | Bank of America Admin Agent, Swing Line Lender, L/C Issuer |
750.0 | Revolver |
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| Tronox Producer/Titanium Dioxide Pigment |
Goldman Sachs Bank USA, Deutsche Bank Securities Joint Bookrunners |
700.0 | Term Loans Wells Fargo Capital Finance amended its existing revolver |
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| EVRAZ North America Manufacturer/Steel |
GE Capital, Corporate Finance Admin Agent |
610.0 | Revolver GE Capital Markets: Jt Ld Arranger, Jt Bookrunner |
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| RailAmerica Operator/Short-Line |
Regional Freight Railroads | Morgan Stanley, Citigroup Global Markets, Deutsche Bank Securities Lead Arrangers |
585.0 | Revolver/Term Loan Term Loan: Seven-year term/BMO Cap Mkts: Jt bookrunning mgr/Citibank, Morgan Stanley, BMO Harris Bank, Deutsche Bank financed revolver |
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| Halcon Resources Operator/Energy Company |
J.P. Morgan Chase Bank Admin Agent, Ld Arranger |
500.0 | Revolver Five-year term/Replaces previous revolver |
|||
| Freescale Semiconductor Provider/Embedded Processing Solutions |
Citibank Admin Agent |
500.0 | Term Loan Seven-year term |
|||
| TNS Provider/Data Communications |
Interoperability Solutions | SunTrust Robinson Humphrey, Bank of America Merrill Lynch Joint Lead Arrangers |
450.0 | $100MM Revolver /$350MM term loan Five-year term/Repays existing facilities |
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| Kaydon Manufacturer/Performance-Critical Products |
JP Morgan Chase Bank Admin Agent |
400.0 | $250MM Revolving/$150MM Term Loan Five-year term |
|||
| Lightower Fiber Networks Provider/Metro Fiber |
Bandwidth Service | GE Capital's Telecom, Media and Technology Admin Agent |
380.0 | Revolver GE Capital Markets: Jt bookrunner, jt ld arranger |
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| NPC International Operator/Pizza Hut Restaurants |
Barclays, Goldman Sachs Bank USA Jt Ld Arrangers, Jt Bookrunners |
375.0 | Term Loan |
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| Shale-Inland Holdings Supplier/Refining |
Petrochemical Production Products | GE Capital, Corporate Finance Admin Agent |
350.0 | Revolver Support acquisition of HD Supply Industrial PVF/GE Cap Mks: Sole bookrunner, jt ld arranger |
||
| Pinnacle Entertainment Operator/Casinos |
Barclays Capital Admin Agent |
325.0 | Term Loan Seven-year term/Merrill Lynch, J.P. Morgan Securities: Jt ld arrangers, jt bookrunners |
|||
| Federal Signal Provider/Environmental |
Safety | Transportation Solutions | TPG Specialty Lending/Wells Fargo Capital Finance, GE Capital Corporate Finance Agent, Sole Ld Arranger/Co-Collateral Agents |
315.0 | $100MM Revolver/$215MM Term Loan Five-year term/TPG: lender for term loan/WFCF, GE: lenders for revolver/WFCF: admin agent |
|
| Oceaneering International Provider/Oilfield Engineered Services |
Products | Wells Fargo Securities and DNB Markets Jt Ld Arrangers, Jt Bookrunners |
300.0 | Revolver Five-year term/Wells Fargo: Admin agent, DNB: Syn agent. HSBC Bank, JPMorgan Chase, BofA, Barclays participated |
||
| Steel Dynamics Producer |
Recycler/Steel | Metals | Merrill Lynch, PNC Capital Markets, Wells Fargo Securities Jt Bookrunners, Ld Arrangers |
275.0 | Term Loan Five-year term/Term loan is in addition to $1.1B revolver |
|
| Noranda Aluminum Holding Producer/Aluminum Products |
Bank of America Admin Agent |
250.0 | $250MM Revolver Refinancing also included seven-year $325MM term loan |
|||
| American Dental Partners Partner/Dental Group Practices |
KeyBank, CIT Capital Securities, NXT Capital Jt Bookrunning Managers |
241.0 | $36MM Revolver/$205MM Term Loan Supports acquisition of American Dental Partners |
|||
| Alorica Provider/Outsourced Customer Management Solutions |
Bank of America Merrill Lynch Sole Ld Arranger, Sole Bookrunner |
200.0 | Revolver Five-year term/Wells Fargo, Bank of the West, BBVA Compass, HSBC, Union Bank participated |
|||
| Implus Footcare Provider/Footwear |
Outdoor | Fitness Accessories | Senior Secured Loan Program Jt Ld Arrangers, Jt Bookrunners |
180.0 | Term Loan Supports acquisition by Trilantic Capital Partners/GE Capital provided $40MM revolver |
|
| Tensar Provider/Specialty Products |
Engineering Services | GE Capital Admin Agent |
175.0 | Revolver |
||
| Driven Brands Franchisor/Automotive Aftermarket Services |
Senior Secured Loan Program Jt Ld Arrangers, Jt Bookrunners |
170.0 | Term Loan Supports acquisition by Harvest Partners/GE Capital provided a $15MM revolver |
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| Molina Healthcare Provider/Medicaid-Related Solutions |
U.S. Bank Healthcare Sole Ld Arranger, Sole Bookrunner, Admin Agent |
170.0 | Revolver |
|||
| Nexteer Automotive Provider/Steering |
Driveline Systems | Wells Fargo Capital Finance Agent |
165.0 | Revolver Business Finance unit provided financing/Comerica Bank, Citizens Bank of Michigan participated |
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| CIBT Holdings Provider/Expedited Travel Document Processing Services |
Senior Secured Loan Program Jt Ld Arrangers, Jt Bookrunners |
158.0 | Revolver Supports acquisition by ABRY Partners/GE Capital provided $30MM loan, $10MM revolver |
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| ThermaSys Manufacturer/Heat Exchanges |
Components | GE Antares Admin Agent |
142.0 | Revolver Supports acquisition by Wellspring Capital Mgmt/GE Cap Markets: Sole ld arranger, bookrunner |
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| Brookstone Retailer/Consumer Products |
Wells Fargo Capital Finance Lender |
140.0 | $100MM Revolver/$15MM Term Loan/$25MM Accordion Facility Retail Finance, Retail Junior Capital teams provided financing/Refinances existing debt |
|||
| RagingWire Data Centers Provider/Data Centers |
Bank of America Lead Lender |
140.0 | Revolvers Five-year term/Supports growth |
|||
| Vantage Data Centers Developer/Pure-Play Wholesale Data Center |
Royal Bank of Canada/KeyBank, Bank of America Admin Agent/Co-Syn Agents |
135.0 | Revolver Barclays Bank, Raymond James Bank, UBS Loan Finance participated |
|||
| PetroChoice Distributor/Vehicle Lubricants |
Senior Secured Loan Program Lender |
130.0 | Term Loan Supports acquisition by Greenbriar Equity Gp/GE Antares Cap provided $15MM revolver /GE Cap Markets, Ares: Jt Arrangers, jt bookrunners |
|||
| Ryan Provider/Tax Services |
Bank of America Lead Lender |
100.0 | Revolver Comerica Bank, Citibank, Fifth Third Bank participated |
|||
| Global Power Equipment Group Provider/Equipment |
Services | Wells Fargo Bank/Wells Fargo Securities, U.S. Bank Admin Agent/Co-Ld Arrangers |
100.0 | Revolver Five-year term/Supports strategic growth |
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| Exactech Developer/Bone |
Joint Restoration Products | SunTrust Robinson Humphrey Lead Lender |
100.0 | $70MM Revolver/$30MM Term Loan BBVA Compass, HSBC, Synovus Bank, Hancock Bank participated |
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| Federal Signal Manufacturer/Safety |
Security Products | GE Capital Co-Collateral Agent |
100.0 | Revolver Refinance debt |
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| Bashas’ Operator/Grocery Chain |
GA Capital Admin Agent, Collateral Agent |
95.0 | Term Loan Three-year term/Stone Tower Capital affiliate, Tennenbaum Capital Partners funds, WFCF, GB Merchant participated |
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| Motorcar Parts of America Remanufacturer/Alternators |
Starters | Cerberus Business Finance, PNC Lenders |
95.0 | $20MM Revolver/$75MM Term Loan PNC provided revolver/Cerberus provides term loan/Replaces previous $55.5MM facility |
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| American Apparel Manufacturer/Fashion Apparel |
Crystal Financial/Salus Capital Partners Admin Agent/Doc Agent |
80.0 | $50MM Revolver/$30MM Term Loan Three-year term |
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| Talbots Retailer/Women's Apparel |
Accessories | Wells Fargo Bank Lender |
75.0 | Term Loan Five-year term/GE Capital, Corporate Retail Finance amended its $200MM revolver |
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| The Telx Group Provider/Interconnection |
Data Center Services | Morgan Stanley Senior Funding, TD Securities Ld Arrangers |
75.0 | Term Loan |
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| Penn Power Group Provider/Technology |
Services Solutions | Senior Secured Loan Program Jt Ld Arrangers, Jt Bookrunners |
66.0 | Term Loan Supports acquisition by NGP Energy Tech Partners, Juggernaut Cap Partners, Ares mgmt/GE Capital provided $15MM revolver |
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| Navarro Discount Pharmacy Retailer/Community Drug Store |
GE Capital, Corporate Retail Finance Admin Agent, Sole Lender |
65.0 | Revolver Refinances debt |
|||
| Paradigm Management Services Provider/Medical Management Services |
GE Capital Admin Agent |
65.0 | First Lien Revolver Support acquisition by Lightyear Capital/GE Capital Markets: Jt ld arranger, jt bookrunner |
|||
| American Reprographics Company Provider/B2B Document Management Technology |
Services | Wells Fargo Bank/Wells Fargo Capital Finance Lender/Arranger |
50.0 | Revolver Four-and-a-half-year term/Replaces existing $50MM revolver |
||
| Forest Resources Manufacturer/Recycled Paper |
Packaging | GarMark Partners, LBC Credit Partners Co-Ld Arrangers, Co-Doc Agents |
48.0 | $38MM Second Lien Term Loan/$10MM Equity Consolidates Canadian, U.S. debt |
||
| Lifoam Industries Manufacturer/Polystyrene |
Polyurethane | Refrigerant Products | NXT Capital Sole Ld Arranger, Sole Bookrunner, Admin Agent |
46.0 | Revolver Supports recap by American Capital |
|
| Genoa Healthcare Holdings Operator/Specialty Pharmacies |
Healthcare Finance Group Co-Ld Arranger, Jt Bookrunner, Syn Agent, Collateral Mgr |
44.5 | $9.5MM Revolver/$35MM Term Loan Support growth, equity investment by Beecken Petty O'Keefe & Co. |
|||
| ValueVision Media Operator/ShopNBC |
PNC Bank Lender |
40.0 | Revolver |
|||
| LAI International Provider/Engineered Finished Parts |
Components | Monroe Capital Lender |
37.1 | Revolver Supports acquisition by RLJ Equity Partners |
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| Schuff International Provider/Integrated Steel Construction Services |
GB Merchant Partners Agent |
30.0 | Term Loan Debt Investment Group provided financing |
|||
| Thermal Solutions Manufacturing Manufacturer/Heat Exchange |
Temperature Control Products | Monroe Capital Lender |
25.5 | Revolver Supports acquisition of Heavy Duty division of Vista-Pro Auto by Resilience Capital Partners |
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| Ultra Diamonds Operator/Fine Jewelry Chain |
Wells Fargo Capital Finance Lender |
25.0 | Revolver Retail Finance team provided financing |
|||
| Zhone Technologies Provider/ IP Multi-Service Access Solutions |
Wells Fargo Capital Finance Lender |
25.0 | Revolver Two-year term/Replaces previous facility with Silicon Valley Bank |
|||
| American & Efird Manufacturer/Industrial Sewing Thread |
Kayne Anderson Senior Credit Partners Lender |
22.5 | Term Loan Supports acquisition by KPS Capital Partner |
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| The Ensign Group Operator/Skilled Nursing |
Rehab | Hospice Care | Assisted Living Companies | RBS Asset Finance Lender |
21.5 | Term Loan Seven-year term |
| Benton-Georgia Supplier/Natural Gas Pipeline Construction Services |
Monroe Capital Lender |
21.0 | Term Loan Supports acquisition of company by Dale LeFebvre/Monroe provided equity investment with Wells Fargo |
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| Ernest Health Operator/Rehab |
Acute Care Hospitals | CIT Healthcare Arranger |
20.0 | Revolver CIT Bank provided financing |
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| BioPharm Communications Developer/Promotional Medical Education Programs |
Abacus Finance Group Admin Agent, Sole Ld Arranger |
18.5 | Revolver Supports recap by Southfield Capital/Boathouse Cap, CMS Mezzanine provided mezzanine financing |
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| True Science Distributor/Pet Medications |
Baby Products | NewStar Business Credit Lender |
18.0 | Revolver Provides expansion capital to support growth |
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| SolomonEdwardsGroup Provider/Business Advisory |
Professional Staffing | First Niagara Commercial Finance Lender |
17.5 | Revolver Refinances prior credit facility |
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| DynTek Provider/Professional Technology Services |
Union Bank Lender |
15.0 | Revolver Three-year term |
|||
| Vitae Pharmaceuticals Manufacturer/Pharmaceuticals |
Oxford Finance, Silicon Valley Bank Lenders |
15.0 | Revolver Supports drug development programs |
|||
| BG Medicine Developer/Novel Biomarker-Based Diagnostics |
GE Capital, Healthcare Financial Services, Comerica Bank Lenders |
15.0 | Term Loan |
|||
| BG Medicine Developer/Biomarker-Based Diagnostics |
GE Capital, Healthcare Financial Services Lender |
15.0 | Term Loan Supports commercialization efforts |
|||
| Akron Hardware Consultants Distributor/Architectural Hardware |
Products | FirstMerit Bank Business Credit Lender |
13.8 | Revolver/Term Loan Supports acquisition/Refinances existing debt |
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| Benore Logistic Systems Provider/Logistics |
Huntington Bank Asset Based Lending Lender |
13.0 | $9MM Revolver/$4MM Equipment Lease Refinance existing debt, purchase equipment |
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| Miss Matched Operator/LittleMissMatched locations |
Salus Capital Partners Lender |
12.5 | Revolver Refinances existing facility |
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| Hanover Direct Marketer/Branded Merchandise |
Capital One Leverage Finance Lender |
12.0 | Revolver Three-year term/Refinances existing debt |
|||
| WPCS International Provider/Design-Build Engineering Services |
Sovereign Bank Lender |
12.0 | Revolver Three-year term/Replaces existing credit facility |
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| XOMA Developer/Antibody Therapeutics |
GE Capital, Healthcare Financial Services Lender |
10.0 | Term Loan |
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| American Guard Services Provider/Guard Services |
Ancillary Security Operations | Lawrence Financial Group Lender |
10.0 | Revolver Supports growth, expansion |
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| AMG Huntington Beach Supplier/Precision Machined Components |
Cole Taylor Business Capital Lender |
10.0 | Revolver |
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| Teton Buildings Manufacturer/Remote Workforce Facilities |
Modular Buildings | Capital One Bank Lender |
10.0 | Revolver Three-year term |
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| Personnel Plus Provider/Staffing Positions |
Lawrence Financial Group Lender |
10.0 | Revolver Supports growth |
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| Mevio Entertainment Networks Producer/Short Form Video Entertainment |
ORIX Venture Finance Lender |
10.0 | $3MM Revolver/$7MM Term Loan Expands production capabilities, technology |
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| Energy Manufacturing Company Manufacturer/Hydraulic Cylinders |
Valves | FirstMerit Bank Business Credit Lender |
9.9 | Revolver/Term Loan Deal Sources: Eastport Operating Partners, PNC Erieview Capital/Refinances existing debt |
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| Extreme Reach Provider/Video Ad Management |
Distribution | TD Bank Lender |
9.0 | Revolver Funds strategic acquisitions |
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| Benchmark Healthcare Provider/Skilled Nursing Services |
Oxford Finance Lender |
8.5 | $1MM Revolver/$7.5MM Term Loan Refinances existing debt |
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| Doctors Medical Center Operator/Acute Care Hospital |
Gemino Healthcare Finance Lender |
8.0 | Revolver |
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| AssureRx Health Operator/Medicine Company |
Silicon Valley Bank Lender |
8.0 | Revolver/Term Loan |
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| Brady Distributing Co. Distributor/Arcade |
Vending Machines | First Capital Lender |
8.0 | Revolver Support company's growth |
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| HB&G Building Products Manufacturer/Millwork |
Columns | Posts | Cole Taylor Business Capital Lender |
8.0 | Revolver |
|
| Butler-Johnson Distributor/Premium Surfacing Solutions |
US Capital Partners, First Capital Lead Arranger |
7.8 | $7MM Revolver/$.75MM Term Loan |
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| Gardner Glass Products Producer/Mirror |
Glass Products | First Capital Lender |
7.5 | $6.5MM Revolver/$1MM Term Loan Support turnaround strategy |
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| American Micro Products Manufacturer/Machined Components |
Connectors | FirstMerit Bank Business Credit Lender |
7.5 | Revolver/Term Loan Refinances existing debt |
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| Cambridge Broadband Networks Manufacturer/Microwave Backhaul Solutions |
Silicon Valley Bank Lender |
7.0 | Revolver Supports growth |
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| Samtex Fabrics Wholesaler/Fabrics |
First Capital Lender |
7.0 | Revolver |
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| CAPS Visual Communication Provider/Marketing |
Production Services | NewStar Business Credit Lender |
6.7 | Revolver Provides expansion capital to support growth |
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| FiberLink Owner/Fiber Optic Transmission Lines |
Bridge Bank Lender |
6.0 | Term Loan |
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| Western Flyer Express Operator/Truck |
Trailer Fleet | TAB Bank Lender |
6.0 | Revolver |
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| O&S Trucking Provider/Temperature-Controlled Transportation Services |
TAB Bank Lender |
6.0 | Revolver |
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| Coral Industries Manufacturer/Bath |
Shower Enclosures | TAB Bank Lender |
6.0 | Revolver |
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| Falls Stamping and Welding Co Provider/Metal Stamping |
Design | Fabrication | FirstMerit Bank Business Credit Lender |
6.0 | Revolver Refinances existing debt |
|
| Latitude Solutions Provider/Wastewater Remediation Solutions |
Crestmark Bank Lender |
5.0 | Revolver |
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| Advanced Photonix Supplier/Optoelectronic Products |
Silicon Valley Bank Lender |
5.0 | Revolver Two-year term/SVB also provided $1MM term note/Repays debt from The PrivateBank and Trust |
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| Source Broadband Services | Source Power Services Provider/Engineering |
Construction | Maintenance Services | Keltic Financial Services Lender |
4.0 | Revolver Tenth Street Capital provided additional financing |
| Corinth Investor Holdings Holding Company/Atrium Medical Center |
Healthcare Finance Group Lender |
4.0 | Revolver |
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| Nash Oil Company Distributor/Gasoline |
Keltic Financial Services Lender |
3.3 | $2.5MM Revolver/$.75MM Term Loan |
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| MedShape Developer/Medical Devices |
GE Capital, Healthcare Financial Services Sole Lender, Admin Agent |
3.0 | Term Loan |
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| Mobiquity Provider/Mobile Professional Services |
Comerica Bank Lender |
3.0 | Revolver Technology & Life Sciences Division provided the financing |
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| Active Ride Shop Operator/Sports Clothing Retail Chain |
Marquette Business Credit Lender |
3.0 | Revolver Supports growth |
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| Jagged Peak Provider/eCommerce Solutions |
Supply Chain Services | Fifth Third Bank Lender |
3.0 | Revolver Two-year term/Replaces previous facility |
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| Help Remedies Distributor/OTC Pharmaceutical Solutions |
First Capital Lender |
2.5 | Revolver Support growth |
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| Classic Packaging Company Printer/Poly Bags |
Films | Keltic Financial Lender |
2.1 | $1.75MM Revolver/$.36MM Term Loan |
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| Jones Soda Co Distributor/Premium Beverages |
Access Business Finance Lender |
2.0 | Revolver Funding goes to Jones Soda (Canada) and Jones Soda Co. |
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| Urologix Manufacturer/Medical Products |
Silicon Valley Bank Lender |
2.0 | Revolver |
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| Grant & Weber Provider/Receivables Management |
Lawrence Financial Group Lender |
2.0 | Revolver |
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| Infiniti Media & Infiniti Plastic Technology Manufacturer/DVD |
CD Cases | Lawrence Financial Group Lender |
2.0 | Revolver |
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| Microphase Manufacturer/Electronic Devices |
Gerber Finance Lender |
1.5 | Revolver |
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| Cold Spring Holdings Operator/Skilled Nursing Facilities |
Oxford Finance Lender |
1.0 | Revolver |