H.I.G. Capital signed a definitive agreement to acquire Terra Millennium, a national provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services, from Court Square Capital Partners.
William C. Robertson joined Dechert’s global finance team as a partner based in New York. Robertson’s arrival continues Dechert’s U.S. private equity and private credit expansion, which includes the growth of the firm’s capabilities in California.
SLR Investment Corp. closed its previously announced merger with SLR Senior Investment Corp., with SLR Investment Corp. as the surviving company.
Alon Goldberger rejoined Dechert as a global finance partner based in the firm’s Philadelphia office. Goldberger will focus on leveraged finance. He was previously an associate at Dechert before joining another law firm.
Franklin BSP Lending and Franklin BSP Capital, business development companies advised by affiliates of Benefit Street Partners, acquired substantially all of the equity interests of Encina Equipment Finance.
SLR Investment Corp. (SLRC) and SLR Senior Investment Corp. (SUNS) entered into an agreement to merge together, with SLRC as the surviving company, subject to stockholder approval and customary closing conditions.
Sycamore Tree Capital Partners closed its inaugural collateralized loan obligation, Sycamore Tree CLO 2021-1, which totals $403.3 million. Citibank Securities served as the underwriter and Dechert acted as legal counsel to Sycamore Tree Capital Partners on the transaction.
Encina Business Credit announced a recapitalization and an expanded capital base provided by affiliated funds of Barings along with participation from Encina management. In conjunction with the recapitalization, Encina changed its name to Eclipse Business Capital.
U.S. Bank entered into a definitive agreement to purchase PFM Asset Management under its subsidiary, U.S. Bancorp Asset Management. PFM Asset Management will continue to operate as a separate entity. The agreement was signed on July 7 and is expected to close in Q4/21.
Horizon Technology Finance Management entered into an agreement with Waterfall Asset Management to originate and manage a venture debt portfolio. Horizon will originate and manage an initial commitment of $100 million, with the potential to increase to $300 million over time.