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Articles by Ken Mann
Crown Partners Arranges $8MM in Senior Debt for Boston Battery
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Crown Partners Arranges $8MM in Senior Debt for Boston Battery Crown Partners, a debt advisory firm specializing in senior credit facilities and loan products for U.S. companies, announced the closing of an $8.0 million credit facility consisting of a $5.0 million revolving line of credit, $2.5 million real estate term loan and a...
CIT Launches One Million Meals Campaign to Fight Hunger
CIT Launches One Million Meals Campaign to Fight Hunger CIT Group announced the start of its annual partnership with Feeding America® to help provide One Million Meals to people facing hunger across the country. "We're proud to again partner with Feeding America on our annual hunger-relief campaign to battle food insecurity in our communities," said CIT Chief Marketing and Communications Officer Gina Proia.
Cambridge Savings Bank’s ABL Team Provides Medical Record Associates with Growth Financing Package
Cambridge Savings Bank’s ABL Team Provides Medical Record Associates with Growth Financing Package Cambridge Savings Bank (CSB) announced that its Asset-Based Lending team has closed a custom financing package for Medical Record Associates, LLC (MRA), a leading provider of medical coding, auditing and cancer registry services. The Wellesley, MA-based, MRA has been working with hospitals nationwide since 1986 assisting with the non-clinical side of healthcare delivery.
Republic Provides $3MM Asset-Based Loan for Manufacturing Company
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Republic Provides $3MM Asset-Based Loan for Manufacturing Company When a Midwest based private equity owned promotional products manufacturer was getting back to business following the pandemic, their regional bank wanted to limit their access to working capital.
Texas Capital Bank Introduces New Leadership Structure in Austin
Texas Capital Bank Introduces New Leadership Structure in Austin Texas Capital Bancshares, the parent company of Texas Capital Bank, announced Chris Calvert and Claire Harrison have been named Market Chairman and Market President of Austin, TX, respectively. Since June 2021, Harrison has served as Senior Vice President of Corporate Banking for Texas Capital Bank in the Dallas, TX, office.
CIT Arranges $67.8MM Financing for New York Solar Power and Battery Storage Portfolio
CIT Arranges $67.8MM Financing for New York Solar Power and Battery Storage Portfolio November 01, 2021, 08:02 AM CIT Group announced that its Power and Energy business served as sole lead arranger for $67.8 million in financing for construction of the new AMP NY2 community solar and storage portfolio.
JPMorgan Chase Agents $3.25B Refinance for QVC
JPMorgan Chase Agents $3.25B Refinance for QVC October 29, 2021, 08:00 AM QVC announced the refinancing of its senior secured credit facility with a new amended and restated senior secured credit facility on October 27, 2021. The new senior secured credit facility is a multi-currency revolving facility, provides a line of credit of up to $3.25 billion and replaces QVC's existing $2.95 billion bank credit facility. QVC is a wholly owned subsidiary of Qurate Retail, Inc.
TD Bank Group Announces New Changes to Senior Executive Team
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) TD Bank Group Announces New Changes to Senior Executive Team After almost 35 years with the Bank, Teri Currie, Group Head, Canadian Personal Banking, has informed TD of her intention to retire at the end of January 2022. Upon her retirement, she will be appointed to TD's U.S. Board of Directors, effective February 1, 2022.
Turnaround Management Association Announces New President and Board
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Turnaround Management Association Announces New President and Board The Turnaround Management Association is proud to announce Jane Mitnick, SM Financial Services Corporation as 2022 TMA Global President. Her term begins on January 1, 2022.
PNC Names Regional Presidents in California
PNC Names Regional Presidents in California PNC Bank announced the appointment of two new regional presidents in California, further expanding its local leadership and decision-making model in the state. Jarrod Ingle joins PNC as the regional president and head of Corporate Banking for the Orange County-Inland Empire market and Todd Wilson assumes responsibilities as regional president for the Greater Los Angeles Metropolitan Area.
Cambridge Savings Bank Fuels Growth for Noreast Outdoorz with Revolving Line of Credit
Cambridge Savings Bank Fuels Growth for Noreast Outdoorz with Revolving Line of Credit Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team provided a revolving line of credit to Noreast Outdoorz, LLC, an outdoor sporting and recreational equipment supplier based in Pocasset, Massachusetts.
White Oak Delivers $80MM Term Loan Financing to Metals Recycler
White Oak Delivers $80MM Term Loan Financing to Metals Recycler October 25, 2021, 08:07 AM White Oak Global Advisors provided a $80 million term loan supporting the refinancing of one of the largest non-ferrous and ferrous metals recyclers in the US. The structure, which also includes an $80 million asset-based credit facility, provides the company with a more efficient capital structure and increases its borrowing capacity as commodity prices increase.
Capital One, Others Arrange $900M Senior Credit Facility for Accel Entertainment
Capital One, Others Arrange $900M Senior Credit Facility for Accel Entertainment Accel Entertainment, a leading distributed gaming operator in the U.S., amended its existing senior secured credit facility to increase its borrowing capacity from $438 million to $900 million with a new five year term. The Amended Credit Facility consists of a $150 million Revolving Credit Facility, a $350 million Term Loan A and a $400 million Delayed Draw Term Loan. The interest rate and covenants remain unchanged.
Wintrust Commercial Finance Hits $3B in Originations
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Wintrust Commercial Finance Hits $3B in Originations Since its founding in April of 2015, Wintrust Commercial Finance (WCF), a division of Wintrust Asset Finance Inc., has generated more than $3 billion in funded and managed volume, leading to a Compound Annual Growth Rate of 30.5 percent.
Audax Private Debt Provides Financing to Support LLR Partners’ Acquisition of Genesee Scientific
Audax Private Debt Provides Financing to Support LLR Partners’ Acquisition of Genesee Scientific Audax Private Debt, as Joint Lead Arranger and Bookrunner, provided a unitranche credit facility to support the acquisition of Genesee Scientific (“Genesee” or the “Company”) by LLR Partners, a Philadelphia-based private equity firm focused on investing in middle-market technology, healthcare, and services businesses.
Shore Bancshares and Severn Bancorp Receive Shareholder Approval for Merger
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Shore Bancshares and Severn Bancorp Receive Shareholder Approval for Merger Shore Bancshares, the holding company of Shore United Bank, and Severn Bancorp, the holding company of Severn Savings Bank announced that, at special meetings of their respective shareholders held on October 22, 2021, Shore's shareholders...
CIT Arranges Up to $95MM Financing for Relaunch of Castle Rock Entertainment
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) CIT Arranges Up to $95MM Financing for Relaunch of Castle Rock Entertainment CIT Group announced that its Technology, Media and Telecommunications business served as sole lead arranger and administrative agent on up to $95 million in financing toward the relaunch of noted Hollywood film production company Castle Rock Entertainment.
Yieldstreet Private Business Credit Closes 13 Deals Totaling $115MM
Yieldstreet Private Business Credit Closes 13 Deals Totaling $115MM Yieldstreet Private Business Credit entered year two in a tremendous fashion. In 3Q 2021, Yieldstreet Private Business Credit closed a total of $115 million in new deals across both consumer and commercial asset classes within various positions of the capital structure.
Saffioti Joins Sterling’s Asset Based Lending Team
Saffioti Joins Sterling’s Asset Based Lending Team Sterling National Bank, the principal subsidiary of Sterling Bancorp, announced that John R. Saffioti, Jr has joined the bank’s Capital Finance division as Underwriter, Asset Based Lending. He will report to Dave Viggiano, ABL Business Leader, Capital Finance at Sterling. Based in Paramus, NJ, Saffioti will be responsible for underwriting / structuring Asset Based credit facilities for both new and existing clients.
Ritchie Bros. Launches New Self-Serve Equipment Listing Service RitchieList.com
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Ritchie Bros. Launches New Self-Serve Equipment Listing Service RitchieList.com October 20, 2021, 08:00 AM Selling equipment on your own just got a whole lot easier with RitchieList.com, the latest solution from industry-leader Ritchie Bros.
Haversine Funding Announces the Closing of Multiple Transactions
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Haversine Funding Announces the Closing of Multiple Transactions Haversine Funding announced the following recently closed transactions: $13,000,000 senior secured, lender finance facility to an equipment lender specializing in truck and trailer loans across the U.S. This asset based lender has continued to increase sales, employees...
B. Riley Expands Corporate Advisory & Valuation Services Practice
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) B. Riley Expands Corporate Advisory & Valuation Services Practice B. Riley Financial announced the expansion of its Corporate Advisory and Valuation Services practice with the addition of Dave Bookbinder and Quinn Shearer to B. Riley Advisory Services.
Ares Management Closes Oversubscribed $5.1B Second Junior Capital Direct Lending Fund
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Ares Management Closes Oversubscribed $5.1B Second Junior Capital Direct Lending Fund Ares Management Corporation announced the final closing of Ares Private Credit Solutions II (“APCS II” or the “Fund”).
Cerebro Capital Bolsters Leadership Team with Two Executive Hires
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Cerebro Capital Bolsters Leadership Team with Two Executive Hires Cerebro Capital, a commercial loan marketplace, announced the appointment of Chris Dalo as Executive Vice President and Michele Hsu as Vice President of Marketing.
AllianceBernstein Closes Third Transaction for CLO Management Business
AllianceBernstein Closes Third Transaction for CLO Management Business AllianceBernstein announced the closing of AB BSL CLO 3, a $500 million collateralized loan obligation (CLO) with Citigroup acting as lead arranger. This marks the third CLO for the firm's broadly syndicated loan and CLO management business established in 2019 and led by AB's Director of Leveraged Loans Scott Macklin. The business is initially funded with investments from Equitable Financial Life Insurance Company.
Capital One to Acquire TripleTree, Growing Capital Markets Capabilities
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Capital One to Acquire TripleTree, Growing Capital Markets Capabilities Capital One entered into a definitive agreement to acquire TripleTree, LLC (TripleTree), a leading investment banking advisory platform serving market-leading healthcare companies, headquartered in Minneapolis, MN, with offices in New York.
U.S. Middle Market Earnings Continue to Boom, Golub Capital
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) U.S. Middle Market Earnings Continue to Boom, Golub Capital Middle market private companies in the Golub Capital Altman Index experienced EBITDA growth of 21% and revenue growth of 24% in July and August 2021 compared to their July and August 2019 earnings and revenue.
M&A Advisors Honors RCS Real Estate Advisors with Turnaround Award
M&A Advisors Honors RCS Real Estate Advisors with Turnaround Award M&A Advisors has honored RCS Real Estate Advisors with a Turnaround Award for the firm’s contribution to the sale of bakery chain Le Pain Quotidien USA to Aurify Brands. RCS was recognized with The Consumer Staples Deal of The Year as part of the 15th annual M&A Advisor awards. RCS represented hospitality company Aurify Brands in connection with its acquisition of the Le Pain Quotidien’s (LPQ) assets in its Chapter 11 case.
Mayer Brown Adds De Silva to Banking & Finance practice in New York
Mayer Brown Adds De Silva to Banking & Finance practice in New York Mayer Brown announced that renowned private credit lawyer Joanne De Silva has joined the firm’s New York office as a partner in the Banking & Finance practice. Ms. De Silva joins from Ropes & Gray LLP. “Building out our private capital capabilities is a strategic priority of the firm,” said Mayer Brown Chair Jon Van Gorp.
Värde Partners Closes $602MM in U.S. Commercial Real Estate Loans
Home / Press Releases / Read Press Release Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Värde Partners Closes $602MM in U.S. Commercial Real Estate Loans Värde Partners closed $602 million in U.S. commercial real estate loan originations across 11 transactions in the third quarter of 2021.
Alternative Finance Network Brings Groundbreaking M&A Financing For Cannabis Companies
Alternative Finance Network Brings Groundbreaking M&A Financing For Cannabis Companies October 13, 2021, 07:26 AM Alternative Finance Network (AFN), an independent financing network serving cannabis and hemp companies in the U.S. and Canada, is bringing new Merger & Acquisition (M&A) financing options to cannabis companies as the M&A market continues to soar in the cannabis space.
Leading Finance Technology Provider IDS is now Solifi
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) Leading Finance Technology Provider IDS is now Solifi IDS and its acquired companies, William Stucky and Associates and White Clarke Group, announced the launch of a new company identity: Solifi.
Balancing Borrower/Lender Expectations in Today’s Environment
Balancing Borrower/Lender Expectations in Today’s Environment Date: Oct 12, 2021 @ 12:00 AM Paul Schuldiner, Executive Vice President, Rosenthal & Rosenthal discusses his views on the impact of government stimulus packages, supply chain disruptions and more on the asset-based lending, factoring and purchase order finance industries in this exclusive interview.
Pitney Bowes Appoints Doherty as VP, Lending Services and Products
Pitney Bowes Appoints Doherty as VP, Lending Services and Products Pitney Bowes has appointed Tom Doherty as Vice President, Lending Services and Products. He joins Pitney Bowes from CIBC Bank USA where he served as Managing Director and Head of Business Banking. In this global role, Doherty will lead the lending business within Pitney Bowes Financial Services, which includes responsibility for mail lending, shipping & logistics financing, and working capital lending.
TAB Bank Provides $10.5MM ABL Credit Facility to Transportation Company in California
TAB Bank Provides $10.5MM ABL Credit Facility to Transportation Company in California TAB Bank provided a transportation company in California with a $10.5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company hauls all different types of freight across all 50 states.
Encina Equipment Finance Provides $20MM Equipment Lease Line to Environmental Services Provider
Encina Equipment Finance Provides $20MM Equipment Lease Line to Environmental Services Provider Encina Equipment Finance (EEF) provided a $20 million equipment lease line to a leading provider of environmental services to the power generation industry. The lease line is being used to fund new equipment. EEF was represented by Reed Smith LLP.
Bank of America Names Presidents for Markets in Ohio
Bank of America Names Presidents for Markets in Ohio Bank of America announced that as a result of the bank’s strong growth and continued expansion in Ohio, the company is appointing two additional presidents which will bring an increased focus and resources in Cincinnati, Cleveland and Columbus. Jeneen Marziani, who has served as Ohio President for the past 13 years, has been named President of Cleveland.
Reevaluating Dividend Recaps - The Time Is Now
Reevaluating Dividend Recaps – The Time Is Now Date: Oct 08, 2021 @ 05:00 AM Over the last year or so, Washington has had a few pressing issues including the pandemic, election verifications and changing administrations. New priorities will be popping up and right or wrong, tax policy will take center stage.
Eloxx Pharmaceuticals Secures Debt Facility Up to $30MM from Hercules Capital
Eloxx Pharmaceuticals Secures Debt Facility Up to $30MM from Hercules Capital Eloxx Pharmaceuticals entered into a debt facility of up to $30.0 million with Hercules Capital. Eloxx has drawn the initial tranche of $12.5 million and used the proceeds to repay in full amounts outstanding under the Company’s existing debt facility. The remaining funds under the new facility will be available in additional tranches upon the achievement of specific clinical milestones or other terms and conditions.
Encina Lender Finance Provides $50MM Senior Secured Revolver to Saratoga Investment
Encina Lender Finance Provides $50MM Senior Secured Revolver to Saratoga Investment Saratoga Investment Corp., a business development company, announced that its wholly-owned subsidiary, Saratoga Investment Funding II LLC (“SIF II”), an entity formed for purposes of entering into this financing arrangement, closed a new $50.0 million senior secured credit facility with Encina Lender Finance.
FrontWell Capital Partners Expands Deal Originations Team with Experienced Professionals
Home / News / Read News Recipient's Email Address(es) (Separate multiple addresses with a comma) Your Email Address Send a copy to myself Your Message (optional) FrontWell Capital Partners Expands Deal Originations Team with Experienced Professionals FrontWell Capital Partners (“FrontWell”), a private credit fund that provides transitionary senior debt financing to middle-market companies in the United States and Canada, has added to its team two experienced professionals with expertise in...
Encina Lender Finance Provides $35MM Senior Credit Facility to Speed Leasing
Encina Lender Finance Provides $35MM Senior Credit Facility to Speed Leasing Encina Lender Finance provided a $35 million senior credit facility to Speed Leasing Company, LLC, a technology-enabled, specialty finance company engaged in originating and servicing used motorcycle leases to consumers. Founded in 2017 and based in Dania Beach, Florida, Speed Leasing is majority owned by 777 Partners LLC.
Greystone Provides $50MM in Bridge Financing for 6-Property Skilled Nursing Portfolio
Greystone Provides $50MM in Bridge Financing for 6-Property Skilled Nursing Portfolio Greystone provided a $50,100,000 bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The transaction was originated by Fred Levine of Greystone. The portfolio, totaling 719 beds, is secured by a floating rate, interest-only loan funded through our uniquely non-recourse bridge loan program.
Allen & Overy Adds Partner Potiha, Strengthening U.S. Leveraged Finance Practice
Allen & Overy Adds Partner Potiha, Strengthening U.S. Leveraged Finance Practice Allen & Overy announced that Ilona Potiha has joined the firm as a partner in its U.S. Leveraged Finance practice, based in New York. Ilona joins from Davis Polk & Wardwell where she was most recently counsel, helping to develop the firm’s leveraged finance designation platform.
Platte River Equity Acquires Municipal Emergency Services
Platte River Equity Acquires Municipal Emergency Services Platte River Equity acquired Municipal Emergency Services, Inc. ("MES" or the "Company") from HB Equity Partners. Headquartered in Sandy Hook, Connecticut, MES is a leading equipment supplier and service provider to first responders throughout the United States. "We are looking forward to our new partnership with Platte River," said Tom Hubregsen, CEO of MES.
Rosenthal Launches Pipeline, Geared Towards High-Growth Direct-to-Consumer and E-Commerce
Rosenthal Launches Pipeline, Geared Towards High-Growth Direct-to-Consumer and E-Commerce Rosenthal & Rosenthal announced the launch of Pipeline, a new e-commerce growth capital resource tailor-made for savvy entrepreneurs and founders looking for an extra edge to keep their brands charging forward.
Bitcoin Self-mining Company Secures $100MM Revolving LOC from Silvergate Bank
Bitcoin Self-mining Company Secures $100MM Revolving LOC from Silvergate Bank Marathon Digital Holdings, a Bitcoin self-mining companies in North America, announced a new $100 million revolving line of credit with Silvergate Bank, a leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry.
Despite a Strong Economic Recovery, Inflation, Debt and Shortages Pose Challenges
Despite a Strong Economic Recovery, Inflation, Debt and Shortages Pose Challenges Date: Oct 04, 2021 @ 05:00 AM Did Someone Say, Pandemic? Despite a year disrupted by a global pandemic that spurred a 34 percent drop in the S&P to 2,237, an unemployment rate of nearly 15 percent and a horribly low labor force participation rate of 60 percent – consumers still managed to pay down credit card debt and set the stage for robust economic growth.
Eclipse Business Capital Provides $77.5MM Revolving Credit Facility to Ranger Energy Services
Eclipse Business Capital Provides $77.5MM Revolving Credit Facility to Ranger Energy Services Eclipse Business Capital (“EBC”), formerly known as Encina Business Credit, provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to a market leader in the oil and gas well services industry.
Citizens Financial Group Names Lindstrom to Lead Business Banking
Citizens Financial Group Names Lindstrom to Lead Business Banking Citizens Financial Group, Inc. announced Sarah Lindstrom will become Head of Business Banking, effective Oct. 4. Lindstrom will report to Simon Griffiths, Head of Core Banking for Citizens’ consumer bank. Lindstrom joined Citizens in 2017 and was most recently Head of Retail Network Transformation & Branch Operations.
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