White Oak Commercial Finance hired Garrick Tan, Fridolf Hanson and Bill Kearney as senior business development officers to its ABL and lender finance platform. In their roles, Tan, Hanson and Kearney will focus on sourcing transactions with committed capital needs ranging from $15 million to $250 million.
White Oak Commercial Finance funded more than $600 million in credit facilities in 2019 and more than $300 million year-to-date to diversified enterprises in North America, the UK, Europe and Australia.
Andy McGhee, Susan Hall and Neal Mulford joined White Oak Commercial Finance to further expand the firm’s asset-based lending and lender finance capabilities. The trio most recently originated, deployed and managed the ABL portfolio at AloStar Capital Finance.
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 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.
Regional banks play an important role in today’s economy, offering personalized services to small and middle-market businesses. They also are expanding into the ABL market to serve those customers. ABF Journal contributor Lisa Miller spoke with ABL executives from four regional banks who shared their thoughts on the economy, the impact of technology and working with alternative lenders.