The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
KPS Capital Partners will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million.
PNC Bank appointed J.P. Seminario national originations manager and Christopher P. Duranto director, western originations for PNC Business Credit’s Technology Finance group
PNC Bank closed a $50 million senior secured credit facility for C.A. Advanced, an electrical utility contractor that specializes in the installation, maintenance and restoration efforts of electrical facilities.
PNC Bank appointed Eamonn Brady as a senior vice president and business development officer on its senior secured lending team in the Upper Midwest region.
PNC Business Credit added Alex McCombs and Todd Austhof to its Senior Secured Finance Team, expanding the Western and Southeast regions.
PNC Business Credit closed two senior secured revolving credit facilities: one for $175 million for Aero Opco and one for $35 million for Charming Charlie.
Hilco Corporate Finance, a mid-market investment bank and affiliate of Hilco Global, acted as exclusive financial advisor to Go! Retail Group on the latter’s $40 million working capital debt facility.
PNC Business Credit appointed Luke Tripodi and Brian Caldwell to senior vice president and business development officer in Chicago, and Jenna Shah to vice president and business development officer in Seattle.