INDUSTRY TRANSACTIONS

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ApplePie to Provide $20MM in Financing to Grease Monkey Franchisees

Grease Monkey International, part of the FullSpeed Automotive family of brands, is working with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the U.S.

Wintrust Places $46MM Debt Financing for Civil Engineering Firm

Wintrust Commercial Finance arranged the origination and placement of $46 million in debt financing for one of the largest civil engineering and construction firms in the U.S. WCF holds approximately $22 million of the transaction and successfully syndicated the remaining $24 million.

M&T Equipment Finance Supports Duke Acquisition of Clearway Solar Project

M&T Bank’s Commercial Equipment Finance Group provided tax equity financing to support Duke Energy Renewables’ acquisition of the 150-megawatt North Rosamond solar project in Kern County, CA. The U.S. Bancorp CDC and Guardian Life Insurance Company of America also provided financing to the project.

GECAS Sells 20 Narrow-Body Boeing & Airbus Aircraft to START II

GECAS agreed to sell 20 in-production Boeing and Airbus narrow-bodies to START II in its STARR 2019-1 agreement. The diversified portfolio includes aircraft currently on lease to 13 airlines in 11 countries and has total appraised value of approximately $589 million. The sale closed with an affiliate of Oz Management acting as dedicated asset manager. 

Sertant Completes $10.5MM Transaction for Film & Paper Manufacturer

Sertant Capital has completed a $10.5 million transaction for a full-service flexible film and paper packaging manufacturer and converter specializing in sustainable packaging for the food, beverage, nutraceutical, construction, textile and health care industries.

CIBC Provides Parchment with $7MM Growth Capital Financing

CIBC Innovation Banking has closed a $7 million growth capital financing for Parchment, a company that digitizes and distributes education credential records, for K-12, colleges, universities, and trade schools.

Encina Provides $20MM Facility to Healthcare Services Company

Encina Equipment Finance provided a $20 million capital lease facility to a healthcare services company. The facility will be used to fund new equipment deliveries.

CWB Franchise Finance Provides Revolver to Shoeless Joe’s Sports Grill

CWB Franchise Finance provided a development line facility and a revolver loan to Shoeless Joe’s Sports Grill. Based out of Woodbridge, Ontario and led by President Frank Lopreiato, Shoeless Joe’s currently has 27 locations in Ontario, one in Saskatchewan and one in Alberta.

SQN Provides $10MM Lease to Oil Platform Services Company

SQN Capital Management provided a $10 million equipment lease to a 45-year-old, Gulf states-based offshore platform commercial services company. The equipment will be used to support the company’s strategic contracts with both off shore oil and gas companies and wind farm service companies.

CIT Arranges $36.8MM Financing for Bakersfield Heart Hospital

CIT Group Healthcare Finance served as sole lead arranger on $36.8 million in financing to support The Sanders Trust’s real estate acquisition of Bakersfield Heart Hospital. Located in Bakersfield, CA, the hospital specializes in the diagnosis and treatment of heart and vascular disease, as well as a wide range of other medical and surgical procedures.

Crestmark Provides $31MM+ in Financing in H2/March

Crestmark provided more than $31 million in commercial financing to 42 businesses in the second half of March 2019, including a total of $16 million in ABL financial solutions for 10 new clients, over $7.7 million in five new lease transactions from Crestmark Equipment Finance, more than $3.7 million in 28 new lease transactions from Crestmark Vendor Finance, and $3.51 million in financing for one new client from the Government Guaranteed Lending Division.