Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/01/21 through 3/31/21.

DATE BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
2021/01/04 Greenbrook TMS
Medical Tech
Oxford Finance
Lender
30 $15MM term loan and up to $15MM in delayed-draw term loans
2021/01/04 America’s Car-Mart
Car Sales
BOK Financial, Wells Fargo
Co-syndication agents
326 Line of credit upsized from $241MM
2021/01/04 Covia
Mineral Solutions
PNC
Lender
135
Part of Covia's emergence from Chapter 11
2021/01/04 AssetMark
Asset Management
BMO
Admin agent
250 Revolver
To retire existing term loan
2021/01/05 Landec Corporation
Health and Wellness
BMO
Lender
75 Line of credit
2021/01/05 Tuesday Morning
Retail
J.P. Morgan, Wells Fargo, Bank of America
Lenders
110
Part of Tuesday Morning's emergence from Chapter 11
2021/01/06 Avid
Media Tech
JPMorgan Chase
Admin agent
250 $180MM term loan/$70MM revolver
To repay outstanding borrowings under previous facility
2021/01/06 Orion Energy Systems
Lighting
Bank of America
Lender
25 Revolver
Replaces previous facility with Western Alliance Bank
2021/01/07 NextWave
Wireless Spectrum Holdings
Canyon Partners
Lender
200 Term loan
To retire existing debt and for operational funding
2021/01/11 Affimed
Biopharmaceuticals
Silicon Valley Bank
Lender
30.42 Term loans
To fund research and development expenses and for working capital purposes
2021/01/12 Better Choice Company
Pet Products
Wintrust Financial
Lender
12 Long-term credit facility
To refinance existing debt
2021/01/13 DocuSign
Software
Bank of America
Admin agent
500 Revolver with $250MM accordion
2021/01/13 Polder Products
Houseware Products
Fifth Third Business Capital
Lender
10 Revolver
2021/01/13 Concordance Healthcare Solutions
Healthcare
Huntington Business Credit
Admin agent
250
To refinance existing indebtedness and to provide ongoing working capital growth financing
2021/01/14 Specialty Dental Brands
Dental Services
Oxford Finance
Lender
107 Upsize of previous facility
2021/01/15 Good Times Restaurants
Restaurants
Cadence Bank
Lender
11 Expansion of previous facility
Maturity extended to January 2023
2021/01/15 Coast to Coast Equipment
Equipment Sales
Great Rock Capital
Lender
15
To refinance existing loan and provide liquidity
2021/01/15 Tarrytown Expocare
Pharmacy
Oxford Finance
Lender
122
To finance an add-on acquisition
2021/01/19 InfoCision
Telemarketing
Huntington Business Credit
Lender
17.5
To refinance existing debt and provide working capital
2021/01/19 Seamax Shipping
Containerships
CIT
Lead arranger
56
Secured by four containerships
2021/01/19 Mountaingate Capital
Private Equity
Abacus Finance Group
Admin agent
26.3
To support the leveraged buyout of BioDerm
2021/01/20 Synalloy Corporation
Manufacturing
BMO Harris
Lender
150 Revolver
2021/01/20 CoreCentric Solutions
Appliance Repair
Concord Financial Advisors
Arranger
6 Revolver
2021/01/21 Utz Brands
Snack Foods
Bank of America
Admin agent
720 Term loan
To repay a bridge loan and to refinance a previous term loan
2021/01/21 Vantage Mobility International
Van Manufacturer
Wingspire Capital
Lender
50 Revolver
To finance inventory and fund working capital cycle
2021/01/21 Qumu Corporation
Video Tech
Wells Fargo
Lender
10 Revolver
2021/01/21 Ice Air
HVAC Manufacturing
Sterling National Bank
Lender
8.5
To refinance existing debt and provide working capital
2021/01/25 Kent Water Sports
Action Sports
Huntington Business Credit
Lender
50
To support acquisition by Seawall Capital and for working capital growth financing
2021/01/25 Byrna Technologies
Security Equipment
Needham Bank
Lender
6.5 $5MM revolver/$1.5MM equipment line
For general corporate and working capital purposes
2021/01/26 Rocky Brands
Outdoor Apparel
Bank of America
Lender
80
To support acquisition of the performance and lifestyle footwear business of Honeywell International
2021/01/26 Rocky Brands
Outdoor Apparel
TCW Asset Management
Lender
130 Term loan
To support acquisition of the performance and lifestyle footwear business of Honeywell International
2021/01/26 Phobio
Software
Fifth Third Business Capital
Lender
25 Revolver
2021/01/27 Maxim Healthcare
Healthcare
Capital One
Admin agent
200
2021/01/29 Dave
Financial Services
Victory Park Capital
Lender
100
To support growth
2021/02/02 Commercial Equipment Finance
Financial Services
KeyBank Specialty Finance Lending
Lender
35 Non-recourse revolving line of credit with accordion feature
2021/02/02 Hardin Holdings
Industrial Services
Fifth Third Business Capital
Lender
13.8 Revolver
2021/02/02 francesca’s
Retail
Tiger Capital Group, SB360 Capital Group, Second Avenue Capital Partners
Lenders
25 Revolver
Part of asset sale
2021/02/03 Averhealth
Drug Testing
Oxford Finance
Lender
47
For general working capital, to refinance debt and for acquisitions
2021/02/03 Challenge Manufacturing
Manufacturing
WhiteHawk Capital Partners
Lender
100 Term loan
For debt refinancing and additional liquidity
2021/02/03 iEnergizer
Technology Services
CIT
Co-lead arranger
165 $150MM term loan/$15MM revolver
To refinance debt and fund a dividend to shareholders
2021/02/04 Builders FirstSource
Construction
Truist Bank
Admin agent
1400 Revolver increased from $900MM
For working capital, general corporate purposes and growth initiatives
2021/02/04 Prosper Life Care
Healthcare
Oxford Finance
Lender
23.5 Senior credit facility and revolving line of credit
For the acquisition of two facilities
2021/02/05 Bridgestone
Tires
SMBC
Lender
1100 Sustainability-linked credit facility
2021/02/05 NGL Energy Partners
Energy
JPMorgan Chase
Admin agent
500 Revolver
To refinance existing debt
2021/02/05 REPAY
Fintech
Truist Bank
Admin agent
125 Revolver
Replaces prior facility
2021/02/08 Sixth Street Specialty Lending
Financial Services
Truist Securities, JPMorgan, MUFG Union Bank
Lead arrangers
1485 Revolver upsize
2021/02/09 GNS North America
Metal Stamping
Huntington Business Credit
Lender
30
To refinance existing indebtedness and for working capital
2021/02/09 AECOM
Infrastructure Consulting
Bank of America
Admin agent
1397 $1.15B revolver/$247MM term loan
Amendment tied to ESG goals
2021/02/09 Beyond Finance
Debt Resolution
Comvest Credit Partners
Admin agent
110
To refinance existing debt and for working capital
2021/02/09 KLDiscovery
Software
Wilmington Trust
Lender
40 Revolving credit loans
Lower annual debt payments and terminate prior lending commitments
2021/02/10 SWM
Performance Materials
JPMorgan
Admin agent
350 Term loan
Will be used to finance acquisition costs
2021/02/10 Ortho Clinical Diagnostics
Healthcare
Barclays Bank
Admin agent
500 $150MM increase to revolver
2021/02/10 LAGO Innovation Fund I
Venture Debt
Encina Lender Finance
Lender
25 To refinance fund subscription line and originate new venture debt facilities
2021/02/11 Oil States
Oil & Gas
Wells Fargo
Admin agent
125
Replaces existing facility
2021/02/11 Potbelly
Restaurants
JPMorgan
Lender
25
2021/02/12 Venture Global LNG
Oil & Gas
JPMorgan, Morgan Stanley
Lead arrangers
500 Term loan
To fund pre-FID construction activities and for general corporate purposes
2021/02/12 Velocity Financial
Financial Services
BlackRock, Oaktree Capital Management, UBS O’Connor
Lenders
175 Term loan
To refinance existing debt and originate new loans
2021/02/12 InfuSystem
Healthcare Services
JPMorgan Chase
Lead arranger
75 Revolver
2021/02/16 Golub Capital BDC
Business Development Company
JPMorgan
Leader
475 Revolver
2021/02/16 Lighthouse Infrastructure
Fund Management
Crédit Agricole
Admin agent
550 $490MM term loan/$60MM revolver
To redeem outstanding notes, to repay a prior credit facility and for general corporate purposes
2021/02/16 Cora
Hygiene Products
Gibraltar Business Capital
Lender
5 Line of credit
2021/02/16 J. Supor & Son Trucking & Rigging
Trucking
Pathway Capital
Lead arranger
7 Revolver
For working capital
2021/02/17 ARCA Holdings
Manufacturing
Comvest Credit Partners
Admin agent
95
To repay existing debt
2021/02/17 Standard Premium Finance Management
Financial Services
First Horizon Business Credit
Lender
35 Line of credit
2021/02/18 Goodfood Market
Grocery
CIBC, Desjardins Capital Markets, Investissement Québec
Lender
67 Includes $21MM upsize made up of a $15MM revolver and $6MM short-term financing
2021/02/19 Consulting Solutions
Staffing
Fifth Third Business Capital
Lender
25 Revolving line of credit
2021/02/23 Nice-Pak
Pre-moistened wipes
Citizens
Lead left arranger
325
To refinance existing debt and enhance liquidity
2021/02/24 The Pennant Group
Healthcare
Truist Bank
Lender
150 $75MM upsize to existing revolver
For acquisitions, investments and working capital
2021/02/25 CSP Alpha Holdings
Technology
ING Bank, DBS Bank
Underwriters
185 $165MM term loan/$20MM revolver
2021/02/25 Calibre Scientific
Life Sciences
CVC Credit
Lender
57
2021/02/26 Broadmark Realty Capital
Real Estate Finance
JPMorgan
Admin agent
135 Revolver
2021/02/26 TRADE X
Automotive Trading
Finitive
Lender
50 Revolving LOC with $100MM accordion
2021/02/26 Big 5 Sporting Goods
Retail
Bank of America
Admin agent
150 Revolver
2021/02/26 Atlas Technical Consultants
Infrastructure Solutions
Blackstone Credit
Lender
507 $432MM long-term loan/$75MM delayed draw term loan
Part of recapitalization
2021/02/26 Atlas Technical Consultants
Infrastructure Solutions
JPMorgan
Lender
40 Revolver
Part of recapitalization
2021/03/01 Rawlings Sporting Goods
Sporting Goods
Ares Commercial Finance
Lender
100 Revolving line of credit
To support the acquisition of Easton Diamond Sports
2021/03/03 Alterna Capital Solutions
Financial Services
Wells Fargo Capital Finance
Lender
110
Line increased by $30MM
2021/03/03 Liquidia Corporation
Pharmaceuticals
Silicon Valley Bank
Lender
20.5 Three tranches of term loans
2021/03/03 Winc
Subscription Service
Pacific Mercantile Bank
Lender
7
2021/03/04 Anthem Entertainment
Media
Truist Securities
Left lead arranger
400 Revolver with $150MM accordion
2021/03/04 A&M Pizza
Restaurant Franchise
Sterling National Bank
Lender
24.681
To refinance debt and support acquisitions
2021/03/08 Petco
Pet Supplies
Citibank
Admin agent
2200 $1.7B term loan/$500MM revolver
2021/03/08 Nexamp
Solar Energy
MUFG Union Bank
Coordinating lead arranger
440
For a portfolio of solar and energy storage assets
2021/03/11 Harsco
Industrial Services
Goldman Sachs
Joint lead arranger
500 Term loan
Part of refinancing
2021/03/11 Daseke
Transportation
JPMorgan Chase
Bookrunner
400 Term loan
Part of refinancing
2021/03/16 Minim
Internet Services
Silicon Valley Bank
Lender
13
2021/03/16 NextGen Healthcare
Healthcare
JPMorgan Chase
Admin agent
300 Includes $150MM accordion
2021/03/16 LPL Financial
Financial Services
JPMorgan Chase
Arranger
1000 Revolver upsized from $750MM
To pay existing notes, fees and expenses
2021/03/16 Pointe Group Care
Healthcare
Oxford Finance
Lender
57.2
For working capital and to refinance debt and support acquisitions
2021/03/16 Tronox Holdings
Titanium Dioxide Producer
HSBC
Admin agent
1650 $1.3B term loan/$350MM revolver
Part of refinancing
2021/03/16 Pisec Group America
Metal Trading
BHI
Lender
6
2021/03/16 Verra Mobility
Technology
Bank of America
Admin agent
650
For refinancing and acquisition purposes
2021/03/17 American Zinc Recycling
Environmental Services
Blue Torch Finance
Lender
120 Term loan
2021/03/18 Nextaff
Staffing
Sterling National Bank
Lender
5
2021/03/18 Churchill Downs
Entertainment
JPMorgan Chase
Admin agent
300 Term loan
2021/03/19 Universal Stainless & Alloy Products
Metal Working
PNC
Lender
120 $105MM revolver/$15MM term loan
2021/03/19 Atotech
Specialty Chemicals
Goldman Sachs
Admin agent
1800 $1.35B term loan/$250MM revolver/$238.53MM term loan
2021/03/22 Southern States Cooperative
Retail
Ares Commercial Finance
Lender
45 Revolving LOC
To refinance existing facility and for working capital
2021/03/22 Digi International
IoT Technology
BMO Harris
Admin agent
200 Includes option to upsize by $75MM
For working capital, capital expenditures, restricted payments, acquisitions, general corporate purposes
2021/03/23 Metro Group
N/A
Webster Bank
Lender
34
Supports acquisition of Response Electric
2021/03/23 Newtek Business Lending
SBA 504 Loans
Deutsche Bank
Lender
100
2021/03/24 NN
Industrial Services
JPMorgan
Admin agent
50 Revolver
2021/03/24 NN
Industrial Services
JPMorgan
Advisor
150 Term loan
2021/03/25 MayStreet
Data Tech
CIBC Innovation Banking
Lender
10
2021/03/29 Verra Mobility
Mobility Tech
Bank of America
Admin agent
650 Term loan
2021/03/29 Carpenter Technology
Manufacturing
Bank of America, JPMorgan Chase
Joint lead arrangers
300
2021/03/29 WildBrain
Entertainment
RBC Capital Markets
Lead arranger
285 Term loan
2021/03/29 WildBrain
Entertainment
RBC Capital Markets
Lead arranger
30 Revolver
2021/03/30 Opportunity Financial
Fintech
Atalaya Capital Management
Lender
50 To refinance indebtedness and provide growth capital
2021/03/30 TTEC
Software
Wells Fargo
Lender
1200 $300MM increase to existing facility
To increase financial capacity and to support investments, acquisitions and capital distributions
2021/03/30 Navacord
Insurance
TD Securities, BMO
Admin agents
830 First and second lien term loans and revolver
To replace previous debt and to fund M&A opportunities