Bud Little has joined the newly created advisory board of staffing company Labor SMART. Little has completed $1.1 billion in equity and debt financing and restructuring during his 25-year career.
GE Capital, Corporate Finance served as administrative agent and lender on a $125 million revolver for Shearer’s Foods, a manufacturer and distributer of snack products.
GE Capital, Corporate Finance announced it is serving as administrative agent on a $49.5 million senior secured credit facility for Flavor Producers. GE Capital Markets served as sole lead arranger.
GE Capital, Corporate Finance announced it provided a $50 million senior- credit facility to Stoli Group USA. The financing will be used for working capital and general corporate purposes.
About a decade ago, when the metals industry faced significant challenges and changes, many companies in the sector turned away from cash-flow facilities in favor of asset-based loans. Today, ABL remains this industry’s finance method of choice.
CIT reported Q2/13 net income of $184 million compared to a net loss of $73 million in Q2/12. The company noted Corporate Finance segment new funded volume was $1.3 billion, up from $969 million in the year-ago quarter.
GE Capital, Corporate Finance announced it provided a $76.8 million asset-based credit facility as sole lender to Pacific Coast Feather Company, a manufacturer of basic bedding products.
GE Capital, Corporate Finance said that the teams specializing in the purchase and sale of equipment loans and leases in the secondary market will now collectively report to Lou Vigliotti, senior managing director, Capital Markets.
Avidbank announced that Larry LaCroix joined as executive vice president, Corporate Finance. He previously worked at SunTrust Bank and in Bridge Bank’s Capital Finance Division.