Financing Turnaround: How Secured Lending Saved Handaband USA

Handaband USA was a thriving business in the oil and gas market in Texas until unpredictable fuel prices made it difficult to sustain its growth. This is the story of how its previous lender (Crestmark), an Article 9 reorganization, its current owner (Logan Fund) and its newly recruited lender (GemCap) have gotten the business back in the fast lane. 

January 23, 2023 Crestmark | GemCap | Handaband USA | Logan Fund | Robert DiNozzi | Second Wind Consultants Phil Neuffer

Second Wind Consultants Facilitates $5.25MM GemCap Take-Out of Crestmark Distressed Credit

Second Wind Consultants facilitated a UCC Artirle 9 reorganization of an oil field services company that allowed the company’s lender, Crestmark, to recover full asset valuation of $5.25 million without formal liquidation and GemCap to refinance Crestmark out of the previously distressed credit.

November 23, 2022 Crestmark | GemCap | Second Wind Consultants Ian Koplin

What’s Next For The Asset-Based Lending Bank Take-Out Ecosystem?

For decades, private equity investors have taken distressed assets through a process to divorce them from subordinate liens. An analogous, lender-initiated process (the UCC Article 9 restructuring) clears up the traditional bottleneck in bank-to-ABL transitions, ultimately leading to the next evolution of the take-out relationship.

July 21, 2022 Asset Based Lending | Robert DiNozzi | Second Wind Consultants Markiesha Thompson

Second Wind Facilitates BOK Financial’s Exit on $2MM Distressed Note

Second Wind Consultants facilitated Logan Fund’s purchase of a distressed note at $2 million par from BOK Financial. BOK Financial will exit from a lending relationship with a printed circuit board assembly company that has 60 employees.

March 8, 2022 BOK Financial | Logan Fund | Second Wind Consultants Ian Koplin

How Asset-Based Lenders Can Leverage Article 9 to Generate Business, Mitigate Loss

When it comes to preserving lending relationships or finding new ones, all lenders need and want every tool available. One lesser-known tool used in times if distress is the Article 9 reorganization or sale, which can save a struggling business and help lenders recoup value and access new financing opportunities.

October 15, 2021 Aaron Todrin | Article 9 | Entela Semini | Gerber Finance | Kevin McGarry | Robert DiNozzi | Second Wind Consultants | Uniform Commercial Code Phil Neuffer