Cadence Bank rebranded AloStar Capital Finance, a division of the bank that provides asset-based lending and specialty finance solutions, to Cadence Business Finance. In addition, Norbert Schmidt was appointed executive vice president and director of capital finance.
Forward Financing, a provider of technology-enabled alternative financing solutions for under-served small businesses, has closed on a $90 million credit facility, consisting of a $60 million senior revolving credit facility and a $30 million junior term loan. AloStar Capital Finance served as the agent on the senior facility.
The acquisition of Fenix Parts by Stellex Capital Management has been recognized as the “Out-of-Court Restructuring of the Year” in the under $100 million category in the 13th Annual Turnaround Awards by The M&A Advisor.
AloStar Capital Finance successfully agented and closed a committed credit facility for Kellton Tech and its subsidiaries, an information technology and outsourcing company headquartered in India. This strategically meaningful line of credit will allow Kellton Tech to facilitate their current and future growth objectives.
Flat Rock Capital has entered into a $20 million financing facility with AloStar Capital Finance, a division of State Bank and Trust.
AloStar Capital Finance has added Jonathan Schuster to its new business origination team. Based in the Los Angeles office, Schuster will be responsible for sourcing both asset-based and lender finance deals for the West Region.
AloStar Capital Finance agented and closed a $20 million credit facility to support the recent acquisition of Fenix Parts by Stellex Capital Management, a middle market private equity firm.
AloStar Capital Finance, Fenix Parts, Stellex Capital Management, Andy McGhee
AloStar Capital Finance closed an $11.8 million committed credit facility for American-Marsh Pumps, a supplier and manufacturer specializing in pumping applications.
AloStar Capital Finance agented a $12 million committed credit facility for Contec, a testing and repair company servicing the cable television industry.