Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/13 through 3/31/13.
| BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES | ||
|---|---|---|---|---|---|
| Abercrombie Textiles Manufacturer/Upholstery Fabric |
Keltic Financial Services Lender |
5.9 | $4MM Revolver/$1.9MM Term Loan |
||
| Addison McKee Manufacturer/Automotive Supplies |
FirstMerit Bank Business Credit Lender |
6.7 | Revolver Refinances existing debt |
||
| Aderant Holdings Provider/Legal Software |
BMO Harris Bank Jt Ld Arranger, Jt Bkrunner, Admin Agent |
240.0 | Revolver Sponsor Finance group closed the deal/Supports equity investment by Madison Dearborn Partners |
||
| ADMA Biologics Developer/Biotechnology |
Hercules Technology Growth Capital Lender |
6.0 | Term Loan |
||
| Advanced Environmental Recycling Technologies Recycler/Polyethylene Plastic |
Waste Wood Fiber | AloStar Business Credit Lender |
15.0 | $8MM Revolver/$7MM Term Loan |
|
| Agile Therapeutics Developer/Women's Healthcare Products |
Oxford Finance Lender |
15.0 | Term Loan Funds product pipeline |
||
| Amedica Corporation Manufactures/Spine |
Orthopedic Implant Devices | GE Capital, Healthcare Financial Services Admin Agent |
21.5 | Revolver |
|
| American Dairyco Producer/Dairy Products |
BMO Harris Bank Lender |
40.0 | Revolver/Term Loan Refinances existing deb, expansion |
||
| American Senior Living Communities Operator/Senior Housing |
Oxford Finance Lender |
20.0 | $4MM Revolver, $16MM Term Loan Refinances two skilled nursing facilities |
||
| API Technologies Manufacturer/Defense |
Aerospace | Commercial Electronic Systems | Guggenheim Corporate Funding Admin Agent |
165.0 | Term Loan Repays existing facility and debt/Supports refi costs |
| API Technologies Manufacturer/Defense |
Aerospace | Commercial Electronic Systems | Wells Fargo Admin Agent |
50.0 | Revolver Repays existing facility and debt/Supports refi costs |
| Armstrong World Industries Manufacturer/Flooring |
Ceilings | Cabinets | BofA Merrill Lynch, JP Morgan, Barclays Co-Lenders |
1275.0 | $250MM Revolver/$575MM Term Loan Five-year revolver/17-year term loan |
| Arrow Tru-Line Holdings Manufacturer/Garage Door Parts |
FirstMerit Bank Business Credit Lender |
18.4 | Revolver Refinances existing debt |
||
| ATS Workholding Manufacturer/Automation Accessories |
Cole Taylor Business Capital Lender |
5.5 | Revolver Refinances existing debt/Funds growth initiatives |
||
| Axiall Manufacturer/Chemicals |
Building Products | GE Capital, Corporate Finance Admin Agent |
500.0 | Revolver GE Capital Markets: Co-ld Arranger, jt bkrunner |
|
| BarrierSafe Solutions International Manufacturer/Disposable Gloves |
CIT Healthcare Jt Ld Arranger, Admin Agent, Co-Bkrunner |
199.0 | Revolver Funds recap in conjunction with its acquisition of ONGUARD Industries |
||
| BASF Producer/Chemicals |
Citigroup, ING, LBBW, Mizuho Financial Arrangers |
3000.0 | Revolver Replaces existing a credit line |
||
| BioClinica | CoreLab Partners Providers/Clinical Trial Management Services |
KeyBank, CIT Finance, U.S. Bank Lead Arrangers, Joint Bookrunners |
100.0 | $25MM Revolver/$75MM Term Loan Supports acquisition & merger by JLL Partners and Ampersand Capital Partners |
|
| Birch Communications Provider/Communications |
IT Services | CoBank Syndicated Lender |
12.0 | Revolver Funds accretive acquisitions |
|
| Blue Earth Acquirer/Clean-Tech Companies |
Technologies | TCA Global Credit Master Fund Lender |
10.0 | Revolver |
|
| Breen Color Concentrates Manufacturer/Plastic Industry Concentrates |
TCF Capital Funding Lender |
10.5 | Revolver Supports recap |
||
| Brooklyn Hospital Center Provider/Healthcare |
GE Capital, Healthcare Financial Services Admin Agent |
45.0 | Revolver Refinances existing debt/GE Capital Markets: Sole Ld Arranger, Bkrunner |
||
| Buccaneer Energy Developer/Oil |
Gas Assets | Victory Park Capital Lender |
100.0 | Revolver Supports growth |
|
| Burns & Roe Group Provider/Engineering Services |
Capital Business Credit Lender |
10.0 | Revolver Supports growth |
||
| C.P. Converters Manufacturer/Flexible packaging |
BMO Harris Bank Sole Ld Arranger, Sole Bkrunner, Admini Agent |
37.0 | Revolver Supports control investment by First Atlantic Capital/Sponsor Finance Group closed the deal |
||
| Cell Therapeutics Funds clinical development programs |
Hercules Technology Growth Capital Lender |
15.0 | Term Loan Provider/Biopharmaceutical Development |
||
| Cinedigm Digital Cinema Provider/Digital Entertainment |
Deployment Services | Prospect Capital Lender |
70.0 | Term Loan Supports the recapitalization of subsidiaries |
|
| Cosby Oil Company Distributor/Petroleum |
TAB Bank Lender |
5.0 | Term Loan |
||
| Crash Rescue Equipment Service Remanufacturer/Fire |
Rescue Trucks | First Capital Lender |
7.5 | $6MM Revolver/$1.5MM Term Loan |
|
| Cypress Pharmaceuticals | Hawthorn Pharmaceuticals Providers/Pharmaceutical Services |
MidCap Financial Lender |
42.0 | Revolver Supports acquisition by Pernix Therapeutics Holdings |
|
| Dana Transport Carrier/Transportation Services |
CIT Capital Equipment Finance Ld Arranger, Sole Bkrunner, Collateral Agent, Admin Agent |
50.0 | Term Loan |
||
| Diodes Incorporated Manufacturer/Name Brand Semiconductor Components |
Bank of America/Merrill Lynch Admin Agent/Sole Ld Arranger, Sole Bkrunner |
300.0 | Revolver Fiver-year term/Finances acquisition of BCD Semiconductor Manufacturing |
||
| Eagle One Golf Manufactures/Golf Course |
Tennis Courts | Resort Products | TAB Bank Lender |
2.5 | Revolver |
| Early Autism Project Provider/Special Education Schools |
Programs | BMO Harris Sole Ld Arranger, Sole Bkrunner, Admin Agent |
21.0 | Revolver Supports acquisition by Educational Services of America/Sponsor Finance closed the deal |
|
| Emmis Communications Producer/Media |
Radio Broadcasting | J.P. Morgan Securities, GE Capital Markets Jt Bkrunners, Jt Ld Arrangers |
100.0 | Revolver Five-year term/JPMorgan Chase: Admin Agent, GE Capital: Syndication Agent/Fifth Third Bank: Doc Agent |
|
| Federal Signal Provider/Environmental |
Safety Solutions | Wells Fargo Bank/GE Capital, Corporate Finance Admin Agent/Syndication Agent |
225.0 | Revolver Five-year terms/Wells Fargo Securities, GE Capital Markets: jt ld arrangers, jt book managers |
|
| Fiksu Developer/Mobile App Marketing Program |
Bridge Bank Lender |
5.0 | Revolver Supports growth |
||
| Fletcher Leisure Group Distributor/Sporting Goods |
Salus Capital Partners Lender |
21.0 | Revolver Refinance existing debt/Currency in Canadian dollars |
||
| Focus Venture Partners Provider/Staffing |
Telecommunications Services | RedRidge Finance, Atalaya Capital Management Co-Lenders |
16.5 | $8.5MM Revolver/$8MM Term Loan Finances acqusistions |
|
| Forest City Enterprises Provider/Real Estate Services |
Key Bank/BofA Admin Agent/Doc Agent |
465.0 | Revolver Three-year term/PNC: syndication agent |
||
| Fresh Foods Concepts Manufacturer |
Distributor/Retail Fresh Foods | Cole Taylor Business Capital Lender |
5.0 | Revolver Refinances existing debt |
|
| Gardner Denver Manufacturer/Industrial Compressors |
KKR Corporate Lending, Barclays, Citigroup Co-Lenders |
3400.0 | Revolvers/Term Loans Deutsche Bank, RBC, UBS Securities, Mizuho Corp Bank: co-lenders |
||
| Garrison Investment Group Investor/Mid Market |
Asset-Based | Real Estate | CIT Lender |
35.7 | Revolver CIT Real Estate Finance: ld arranger/Financed by CIT Bank |
| Gartner Studios and Gartner Greetings Provider/Special Occasion DIY Products |
Cole Taylor Business Capital Lender |
22.0 | Revolver Refinances existing debt |
||
| Gasko Fabricated Products | Rhopac Fabricated Products Manufacture/Non-Metallic Application Parts |
Components | Cole Taylor Business Capital Lender |
4.7 | Revolver Supports acquisition by Lazarus Capital Partners |
| Genesis HealthCare Provider/Skilled Nursing |
Rehabilitation Care | GE Capital, Healthcare Financial Services Admin Agent |
725.0 | $400MM Revolver/$325MM Term Loan Supports acquisition of Sun Healthcare Group |
|
| Gullett and Associates Provider/Pipeline Surveying |
TCF Capital Funding Lender |
13.5 | Revolver Supports acquisition by Linx Partners |
||
| Halco Lighting Technologies Supplier/Lamps |
NXT Capital Sole Ld Arranger, Sole Bkrunner and Admin Agent |
21.5 | Revolver Funds recap by Lineage Capital |
||
| Heniff Transportation Systems Provider/Liquid Bulk Chemicals |
PNC Bank Lender |
30.0 | Revolver Finances growth/Refinances existing debt |
||
| hmv Canada Retailer/Music |
Entertainment | Wells Fargo Business Credit Lender |
25.0 | Revolver Three-year term |
|
| Hospice Compassus Provider/Hospice Services |
CIT Lender |
105.0 | Revolver Refinances senior and subordinated debt |
||
| Hospitalists Now Provider/Hospital Management |
Healthcare Services | Square 1 Bank Lender |
2.5 | Revolver Supports growth |
|
| Hunter's Specialties Manufacturer/Non-Firearm Hunting Products |
Salus Capital Partners Lender |
13.0 | Revolver Refinance existing debt |
||
| IGXGLOBAL Provider/Information Technology |
Keltic Financial Services Lender |
6.0 | Revolver |
||
| Integra Partners Provider/Orthotics |
Prosthetics | Gemino Healthcare Finance Lender |
4.0 | Revolver Pays off existing debt |
|
| IZEA Operator/Online Marketplaces |
Bridge Bank Lender |
1.5 | Revolver |
||
| JAB Wireless Provider/Wireless Internet |
VoIP Services | GE Capital Admin Agent |
140.0 | Revolver GE Capital Markets: ld arranger and admin agent |
|
| Kova International Manufacturer/In-Vitro Diagnostic Products |
Abacus Finance Admin Agent, Sole Ld Arranger |
16.5 | Revolver Supports carve-out from Hycor Biomedical by investor group |
||
| Kraton Performance Polymers Producer/Engineered Polymers |
Bank of America Admin Agent, Col Agent, Security Trustee |
250.0 | US$150MM Revolver/non-US$100MM Revolver Merrill Lynch, J.P. Morgan, WFCF/JPMorgan, Wells Fargo/Barclays Bank: jt ld arrangers, jt book managers/co-syndication agents/doc agent |
||
| Latisys Provider/Infrastructure as a Service Solutions |
RBC Capital Markets Co-Lender |
200.0 | $20MM Revolver/$180MM Term Loan TD Securities, SunTrust Robinson Humphrey: co-lenders/Revolver is a five-year term/Term Loan is a six-year term |
||
| Lee Masonry Products Manufacturer/Masonry Products |
First Capital Lender |
16.6 | $12MM Revolver/$4.6MM Term Loan Collateralized by A/R, inventory, machinery & real estate |
||
| Loadcraft Industries Manufacturer/Oilfield Related Equipment |
Marquette Business Credit Lender |
9.0 | $6MM Revolver/$3MM Term Loan |
||
| Magnetation Provider/Iron Ore Concentrate Reclamation |
JPMorgan/J.P. Morgan Securities Admin Agent/Sole Ld Arranger, Bookrunner |
110.0 | $25MM Revolver/$50MM Term Loan A/$35MM Delayed Draw Term Loan Associated Bank, BMO Harris: co-syndication agents/Supports growth |
||
| Master Tile Network Distributor/Pool Tiles |
First Capital Lender |
3.0 | Revolver |
||
| Mitel Provider/Cloud Communications Solutions |
BofA Merrill Lynch, RBC Capital Markets, MerchCap Solutions Jt Ld Arrangers, Jt Bkrunners |
320.0 | Revolver Refinances, repays existing facilities |
||
| MoneyGram International Provider/Payment Services |
BofA Merrill Lynch, Wells Fargo Securities Jt Ld Arrangers |
975.0 | $124MM Revolver/$850MM Term Loan J.P. Morgan, Deutsche Bank Securities, Credit Agricole: jt bookrunners |
||
| Multibank Provider/Technology Services |
Fifth Third Bank Lender |
30.0 | $10MM Revolver/$20MM Term Loan Three-year term/Replaces a DirecTECH Holding Company note & other debt |
||
| National Financial Partners Provider/Benefits |
Insurance | Wealth Management Services | Bank of America Admin Agent |
325.0 | Revolver Five-year term/Refinances existing facility |
| National Label Company Producer/Labeling Solutions |
LBC Credit Partners Sole Ld Arranger, Sole Bkrunner, Admin Agent |
40.5 | Revolver Refinances existing debt/Supports growth |
||
| National Pain Institute Provider/Pain Management Services |
BMO Harris Jt Ld Arranger, Sole Bkrunner, Admin Agent |
50.0 | Revolver Supports acquisition by Prospira PainCare/Sponsor Finance group closed the deal |
||
| National Pain Institute Provider/Pain Management Services |
LBC Credit Partners Jt Ld Arranger, Syndication Agent |
50.0 | Revolver Supports acquisition by Prospira Pain Care |
||
| Northern Reflections Retailer/Apparel |
Salus Capital Partners Lender |
6.0 | Revolver Currency is in Canadian dollars |
||
| NSi Industries Designer |
Manufacturer/Electrical Connectors | Wire Management Products | NXT Capital Sole Ld Arranger, Sole Bkrunner, Admin Agent |
32.0 | Revolver Funds recapitalization by Summit Park |
| OCZ Technology Group Manufacturer/Storage Solutions |
Premium Computer Components | Hercules Technology Growth Capital Lender |
30.0 | $15MM Revolver/$15MM Term Loan Includes warrants to purchase OCZ shares |
|
| OpenTable Provider/Online Restaurant Reservations |
Wells Fargo Lender |
50.0 | Revolver Three-year term |
||
| Orbitz Worldwide Provider/Online Travel Products |
Services | Credit Suisse AG Admin Agent, Collateral Agent, L/C Issuer, Swing Line Lender |
515.0 | $65MM Revolver/$150MM Term Loan/$300MM Tranche C Term Loan Debt refi;4-yr term: Revolver/Term Loan B; 6-yr term: Term Loan C |
|
| Origin Point Brands Designer |
Distributor/Home Improvement Products | FirstMerit Bank Business Credit Lender |
10.0 | Revolver Refinances existing debt |
|
| OrthoNet Holdings Provider/Orthopedic Benefits |
BMO Harris Bank Sole Ld Arranger, Sole Bkrunner, Admin Agent |
55.0 | Revolver Sponsor Finance group closed the deal |
||
| OttLite Technologies Designer |
Marketer/Natural Daylight Products | Marquette Business Credit Lender |
7.5 | $7MM Revolver/$500,000 Term Loan |
|
| Pacific Drilling Contractor/ultra-Deepwater Drilling |
Citibank, DNB Lenders |
1000.0 | Revolver Finances construction of two drillships |
||
| Park Electrochemical Manufacturer/Advanced Materials |
PNC Bank Lender |
52.0 | Revolver Five-year term |
||
| Peninsula Packaging Provider/Polyethylene Terephthalate Thermoformed Containers |
BMO Harris Bank Jt Ld Arranger, Jt Bkrunner, Admin Agent |
126.0 | Revolver Sponsor Finance group closed the deal |
||
| Petrowest Corporation Provider/Energy Services |
GE Capital Canada Lender |
50.0 | Revolver Currency in Canadian dollars/Repays USD credit facility |
||
| Premier Research Provider/Contract Research |
Healthcare Finance Group Lender |
15.0 | Revolver Supports growth |
||
| Prince Minerals Processor/Mineral Products |
Additives | BMO Harris Admin Agent |
50.0 | Revolver ABL group closed the deal |
|
| Principal Manufacturing Corporation Manufacturer/Engineered Auto |
Industry Solutions | AloStar Business Credit Lender |
17.4 | $11MM Revolver/$6.35 Term Loan |
|
| Protonex Technology Provider/Advanced Lightweight Military Power Systems |
WindSail Capital Lender |
2.0 | Revolver Supports sales channel expansion |
||
| PVH Designer |
Marketer/Apparel | Barclays Bank/BofA Merrill Lynch, Citigroup Global Markets Admin Agent, Collateral Agent/Jt Ld Arrangers |
3825.0 | $750MM Revolver/$3.075B Term Loan Supports Warnaco Group acquisition/Barclays, Merrill, Citigroup Global, Credit Suisse Securities, RBC: jt ld bkrunners |
|
| Quantum Foods Provider/Protein Products |
Crystal Financial Lender |
80.0 | Revolver Five-year term/Repays existing indebtedness |
||
| ROM Corporation Manufacture/Niche Products |
NXT Capital Sole Ld Arranger, Sole Bkrunner and Admin Agent |
63.3 | Revolver Supports recapitalization |
||
| Rubicon Technology Provider/Electronic Materials |
Silicon Valley Bank Lender |
25.0 | Revolver Three-year term |
||
| SIGA Technologies Developer/Pharmaceuticals |
GE Capital, Healthcare Financial Services Sole Lender, Admin Agent |
12.0 | $7MM Revolver/$5MM Term Loan |
||
| Social Finance Provider/Private Student Lender Services |
Morgan Stanley Lender |
60.0 | Revolver Expands community-based lending model |
||
| Southeastern Aluminum Products Manufacturer/Bath Enclosures |
Shower Doors | AloStar Business Credit Lender |
7.1 | $5MM Revolver/$2.1MM Term Loan |
|
| Stitch Labs Provider/Inventory Management |
Square 1 Bank Lender |
1.4 | Term Loan Supports growth |
||
| Summer Infant Provider/Juvenile Products |
Bank of America/Salus Capital Partners Lender/Admin Agent, Collateral Agent |
95.0 | $80MM Revolver/$15MM Term Loan BofA provided the revolver/Salus provided the term loan/Five-year terms |
||
| SUPERVALU Operator/Grocery Store Chains |
Wells Fargo Capital Finance/Wells Fargo Bank Ld Lender/Admin Agent, Left Ld arranger, Bkrunner |
1000.0 | Revolver Supports sale of grocery store chains |
||
| SUPERVALU Operator/Grocery Store Chains |
Wells Fargo Lender |
900.0 | Revolver Supports sale of five retail grocery banners/Replaces existing facilities |
||
| Support Services of America Provider/Janitorial |
Facilities Maintenance Services | Marquette Business Credit Lender |
8.0 | Revolver Supports growth |
|
| Sysorex Global Holders Provider/IT Solutions |
Business Capital Lender |
5.0 | Revolver Supports acquisition of Lilien |
||
| Team Express Distributing Retailer/Athletic goods & equipment |
Cole Taylor Business Capital Lender |
8.0 | Revolver Refinances existing debt |
||
| Tenere Designer/Metal |
Plastic Components | Cole Taylor Business Credit Lender |
10.0 | Revolver Supports acquisition by Watermill Group |
|
| The Bradshaw Group Distributor/Laser Printers |
Parts | Supplies | Triumph Commercial Finance Lender |
2.5 | Revolver Three-year term/Replaces existing revolver |
| Total Hockey Retailer/Hockey Equipment |
Salus Capital Partners Lender |
3.0 | Term Loan |
||
| Transgenomic Provider/Biotechnology Company Services |
Third Security Lender |
8.0 | $4MM Revolver/$4MM Term Loan Refinances outstanding debt |
||
| Tri-Tech Infrastructure Provider/Physical Tech Infrastructure |
BMO Harris Lender |
3.5 | Revolver Supports export-import working capital/Partially guaranteed by Ex-Im Bank |
||
| Tronox Producer/Titanium Mineral Sands |
Dioxide Pigment | Goldman Sachs, UBS, Credit Suisse, RBC Capital Markets Lenders |
1300.0 | Term Loan |
|
| Tronox Limited Producer/Titanium Mineral Sands |
Dioxide Pigment | Goldman, UBS Sec, Credit Suisse Sec, RBC Capital Mkts Jt Ld Arrangers, Jt Bkrunners, Co-Syndication Agents |
1500.0 | Term Loan 17-year term/Refinances existing facility |
|
| TYRX | Inc. Manufacturer/Implantable Medical Devices |
GE Capital, Healthcare Financial Services Admin Agent |
8.5 | $1.5MM Revolver/$7MM Term Loan Refinances existing debt |
|
| United Leasing Provider/Leasing |
Financial Services | JPMorgan Chase Lender |
195.0 | Revolver Has accordion to $300 million/US Bank, BofA, BB&T, Fifth Third, Northern Trust and Huntington National Bank participated |
|
| Valent Aerostructures Provider/Aerospace Structural Components |
Parts | Royal Bank Lender |
300.0 | Revolver RBC Capital Markets arranged the deal/Supports acquisition by LMI Aerospace |
|
| Valley Oil Company Supplier/Fuel |
First Capital Lender |
6.8 | $6.5MM Revolver/$300,000 Term Loan |
||
| Veridiam Manufacturer/Fabricated Metal Components |
Cole Taylor Business Capital Lender |
19.6 | Revolver Refinances existing debt |
||
| Vinum Wine Importing and Distributing Distributor/Spirits |
Wine | NewStar Business Credit Lender |
5.0 | Revolver |
|
| W Diamond Group Corporation Manufacturer/Men's Tailored Clothing |
Salus Capital Partners Lender |
35.0 | Revolver |
||
| Wellborn Forest Products Designer/Semi-Custom Hardwood Cabinets |
FirstMerit Bank Business Credit Lender |
8.8 | Revolver Refinances existing debt |
||
| Western Shelter Systems Manufacturer/Reusable Temporary Shelters |
Cole Taylor Business Capital Lender |
5.9 | Revolver Supports acquisition by Gorge Holdings |
||
| Westlake Hardware Retailer/Hardware |
U.S. Bank Asset Based Finance Lender |
60.0 | Revolver Supports acquisition by Ace Hardware |
||
| Wilcox Paper Distributor/Paper |
Paperboard Products | Cole Taylor Business Capital Lender |
5.0 | Revolver Refinances existing debt |
|
| Work N' Gear Retail/Healthcare |
Industrial Apparel Chain | Salus Capital Partners Lender |
10.0 | Revolver Refinances existing debt |
|
| Yates Corner Provider/Automotive Services |
Capital One Bank Lender |
8.0 | Revolver Supports construction of mixed-use commercial property |