Cole Taylor Business Capital, a division of Cole Taylor Bank, is pleased to announce it recently provided an $8 million senior revolving credit facility to Fairview, Oklahoma based Cimarron Acid & Frac LLC (CAF). CAF is a leading provider of pressure pumping services to the midcontinent oil and gas industry. The company provides acidizing, hydraulic fracturing, and other well stimulation services to leading independent exploration and production oil companies. CAF is a portfolio company of Annapurna Capital Management, a multi-strategy hedge fund that makes private equity investments and is a global macro-oriented registered Commodity Pool Operator. Annapurna has locations in Greenwich, Connecticut and Nashville, Tennessee.
Iroquois Capital Group acted as both investment banker and junior capital provider to CAF. The lending arm of Iroquois Capital Group, Iroquois Financial Partners (IFP), based in Nashville, Tennessee, provides bridge and longer-term credit to profitable lower middle market borrowers in diverse industries. Commenting on the transaction, CAF chief financial officer, Mack Renner said, “The bankers involved in this transaction demonstrated a strong understanding of our business and a belief in our vision of what CAF can achieve. We are proud to be customers of Cole Taylor Business Capital and Iroquois Financial Partners and we look forward to a long-term, mutually beneficial relationship.” Annapurna Managing Partner, Marshall Brandt, added, “We couldn’t be more pleased with our financing partners in this transaction. Search for messages in outlook 2016 for mac. This is a major milestone for CAF and positions the company for more great things in the future.” Cole Taylor Business Capital is the asset based lending division of Cole Taylor Bank. Cole Taylor Business Capital seeks asset-based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million.
After a slow start to the year, asset-based lenders remained mired in a market burdened by uneven deal flow and few meaningful signs of any pick up. At nearly $83 billion, 2013 asset-based lending (ABL) volume was slightly ahead of last year's total ($81 billion), to mark the second highest total on record after the $101 billion raised in 2011. 1 on page 9) Yet the strong totals were muted by the limited volume of new ABL loan assets that came to market during the year. At less than $23 billion, or 27% of total issuance, new money lending hovered near historic lows. 2 on page 9). Enhanced Equity Funds-Backed NextCare Holdings Announces New $145 Million Credit Facility; Acquisitions of Tulsa-Based Urgent Care Companies Completed; Additional Capital Slated To Fund New Acquisitions DNA Precious Metals Announces $10 Million Revolving Credit Facility to Support Growth and Advance Production Efforts With a Chicago-based Private Equity Firm to Provide Operating Capital and Fund Mining Acquisitions as Well as Future Production Cross-Border Legal and Financial Professionals Meet in New York to Discuss the Rise in Brazilian Multinational Insolvency Proceedings.
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Capital One Cole Haan Deloitte Impact Partners. Gene Taylor, announced plans for 10 new projects. Track and field plans a new $12 million facility and a $4.5 million upgrade project to the. Cole Taylor Business Capital, a division of Cole Taylor Bank, is pleased to announce it recently provided an $8 million senior revolving credit facility to Fairview, Oklahoma based Cimarron Acid & Frac LLC (CAF). CAF is a leading provider of pressure pumping services to the midcontinent oil and gas industry.
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