Alterna Capital Solutions added Bank of America to its senior lending syndicate and increased its line of credit by $65 million, with Bank of America supplying $50 million and Wells Fargo delivering an additional $15 million. Alterna’s line of credit now totals $205 million.
Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, added Alexander Douglas as chief experience officer (CXO).
Alterna Capital Solutions hired Greg L’Herault as senior vice president of sales and originations to meet demand in the Mountain and Desert regions of the United States, including the states of Arizona, Colorado, Idaho, Nebraska and Utah.
Alterna Capital Solutions supported a deal origination for a lower middle-market private equity fund controlled by its affiliate, Alterna Equity Partners. The fund focuses on control and non-control investments in companies with $1 million to $10 million in EBITDA.
Alterna Capital Solutions completed a $60 million transaction providing growth capital to a Florida-based healthcare staffing resource company. The deal is the largest transaction to date in the three-year-old firm’s history.
Roger Allen joined Alterna Capital Solutions’ executive team as chief operating officer based in Winter Park, FL. Allen will focus on expanding and leading the underwriting, operations and client management departments for Alterna.
Wells Fargo Capital Finance increased Alterna Capital Solutions’ asset-based credit facility by $30 million. The line increase brings the firm’s total credit facility to $110 million.
Iron Horse Credit provided a $3 million stand-alone inventory revolving line of credit and Alterna Capital Solutions provided a $2.5 million accounts receivable-based facility to a manufacturer and importer of women’s footwear.
Alterna Capital Solutions added three members to its team of dedicated specialty and alternative financing experts, including Greg Carpenter as EVP and managing partner in Dallas, Michael Kodinsky as SVP of sales and originations and Jim Thieken as chief risk officer (ABL).
Alterna Capital Solutions completed an additional $15 million private equity investment from Alterna Equity Partners, coinciding with a line increase of $30 million from Texas Capital Bank to complement a $50 million asset-based credit facility led by Wells Fargo Capital Finance.