TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
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.
Xeris Biopharma Holdings entered into a senior secured term loan agreement with funds managed by Hayfin Capital Management to provide Xeris with up to a total of $150 million of capital.
Talen Energy and its wholly-owned subsidiary, Talen Energy Supply, obtained a financing commitment led by GoldenTree Asset Management and Silver Point Finance for a first lien facility in the aggregate amount of $788 million maturing in September 2024.
SGS, investment funds managed by SVPGlobal and the largest existing holder of SGS’ outstanding funded indebtedness completed a recapitalization transaction to strengthen SGS’s balance sheet and position the business for growth. HPS Investment Partners led the financing for the investment.
Patriot National Bancorp will acquire digital banking company American Challenger Development via a reverse subsidiary merger, with American Challenger surviving as a wholly-owned subsidiary of Patriot.
IPC Systems entered into a transaction support agreement with its key stakeholders that will reduce the company’s debt by more than $400 million, extend its debt maturity schedule by five years and provide new capital of $125 million to deliver resources for investment in long-term growth strategies.
Evercore named Celeste Mellet Brown its next CFO, effective Sept. 1. As CFO, Mellet Brown will be responsible for Evercore’s financial, tax, internal audit, information technology, investor relations, communications and real estate functions. She will succeed Robert B. Walsh.
JPMorgan’s strategic situations division led a $30 million revolving credit facility and a new $370 million first lien term loan for Healogics, a provider of wound care. Healogics also secured $240 million in equity investments.
The California Public Utilities Commission unanimously voted to approve Frontier Communications’ emergence from Chapter 11. Having already received all other required state and federal approvals, Frontier Communications expects to emerge from Chapter 11 in the coming weeks.