Private Equity
Struggling Noble Group (NOBG.SI) has struck a deal with creditors to restructure $3.5 billion of its debt in exchange for 70 percent of the company, with existing equity holders’ combined stake diluted to only 10 percent, Reuters reported.
2 min read · 29 January 2018
Comprehensive Logistics Co LLC has secured a $25 million mezzanine debt investment from PineBridge Structured Capital. CLI is a third-party logistics firm that provides engineered warehouse, assembly and supply chain performance management services for the automotive, agricultural and industrial manufacturing sectors.
2 min read · 29 January 2018
Adaptive Health Capital has provided debt financing to Pasadena, California-based GrandCare Health Services, a provider of home healthcare services. No financial terms were disclosed.
3 min read · 29 January 2018
Austin-based Pennybacker Capital LLC, a real estate private equity firm, has named Dave Stahl as managing director of distressed credit and special situations. Previously, Stahl worked at Lone Star Funds/Hudson Advisors where he most recently was director of special assets.
2 min read · 29 January 2018
Comvest Credit Partners has closed its fourth direct lending fund at $836 million, beating its $650 million target. Comvest Capital IV LP will provide senior debt, unitranche credit facilities, junior debt and equity co-investments, with transactions ranging from $20 million up to $200 million. Kirkland & Ellis LLP served as legal adviser on the fund.
2 min read · 29 January 2018
Business Capital has provided $4 million in financing to support Asteria Education's acquisition of ECS Learning Systems. Based in Texas, ECS is a provider of test prep materials and software for reading, writing, mathematics, science and critical thinking skills.
2 min read · 25 January 2018
Breakaway Capital has provided a $5 million senior term loan to Recycling Specialists. Based in San Jose, California, Recycling Specialists is a provider of recycling services to manufacturing and industrial clients.
1 min read · 23 January 2018
Los Angeles-based Tennenbaum Capital Partners LLC, an alternative investment manager, has raised more than $1.9 billion for its eighth direct lending fund. TCP Direct Lending Fund VIII's limited partners include pension, endowment, foundation, insurance, sovereign wealth and family office commitments. The fund will invest in senior secured debt in middle-market companies. MVision Private Equity Advisers served as fundraising adviser for DLF VIII while Skadden, Arps, Slate, Meagher & Flom LLP and Dillon Eustace provided legal counsel.
4 min read · 23 January 2018
Capitala Finance Corp has exited its investment in Brunswick Bowling Products. In December 2017, Capitala received $6.2 million for its equity investment in Brunswick Bowling Products. And, on January 19, 2018, Capitala received $7.2 million as repayment of its first lien debt investment in Brunswick Bowling Products. Based in Muskegon, Michigan, Brunswick Bowling Products is a maker of bowling supplies and gear.
2 min read · 23 January 2018
Abacus Financial Group LLC provided $18 million in credit facilities to support Altus Capital Partners' take-private acquisition of MGC Diagnostics Corp. Based in Saint Paul, Minnesota, MGC is a medical tech company focused on cardiorespiratory health solutions. Goulston & Storrs PC provided legal counsel to Abacus on the transaction.
2 min read · 23 January 2018
