Canada's D Films Pushes East West for Credit Facility; The Expanding Canadian Indie Distributor Closes a Credit Facility With the California-based Chinese-American Bank to Grow its Film Release Slate

 

 

 

  

 

Regions Financial Corp. Realigns Businesses and Names John Owen to Lead new General Bank, John Turner to Lead New Corporate Bank 

 

KPS Capital Partners Portfolio Company, American & Efird Global, To Acquire Gutermann; Financing for the Transaction Will be Provided by a Syndicate of Banks led by Merrill Lynch, Pierce, Fenner & Smith, Inc., Along With Wells Fargo Securities, LLC, and PNC Capital Markets LLC Acting as Joint Lead Arrangers

Fed Will Raise Rates Faster Than Investors Bet, Survey Shows 

CIT Offers Outlook on the Growth and Financial Needs of the Commercial Gaming Sector

Gulf Coast Business Credit (GCBC)'s Robert James recently provided a $500,000 working capital facility to a Wyoming-based oil and gas service company.

Referred to GCBC by a current client, the company will use the working capital to support expansion. The company provides vacuum truck, roustabout, painting, maintenance, pressure washing and environmental pad site services.

"As a startup, they were looking for the most cost effective funding source without giving up equity and they found it with Gulf Coast Business Credit," said James.

GCBC is recognized as a leading provider of working capital finance throughout the United States, specializing in accounts receivable financing for the oil and gas service sector. GCBC has clients located throughout the United States and has production offices located in Colorado, Georgia, Tennessee, Texas, and Louisiana.

James is a vice president of new business development and is located in Colorado. James can be contacted at email: [email protected], or phone: 303-587-3641.

AloStar Business Credit announced that David Phillips has been promoted to managing director, head of originations.  Phillips has been with AloStar since May 2011 and was an integral part of establishing the company which three years since inception has generated over $1 billion in financing commitments.

Phillips is an industry veteran with over 25 years of experience in asset-based lending.  His experience comes by way of his work with The CIT Group, Wells Fargo Capital Finance, and Regions Business Capital. 

"David has the experience, the relationships and a strategic focus to take our team to the next level," said Andy McGhee, president, AloStar Business Credit, "we are excited and energized about the possibilities as we move into the future with David as our leader."

An active member of the Commercial Finance Association, the Turnaround Management Association and the ACG, he is a graduate of Georgia Southern University. 

GE Capital, Healthcare Financial Services (HFS) has named Brett B. Haring leader of its Life Sciences Finance business, which has committed more than $2.3 billion in debt and equity financing to 500+ emerging healthcare companies since 2000.

A 25-year GE Capital veteran, Haring began his career in GE Capital's equipment finance business and went on to hold roles of increasing responsibility. He was most recently senior managing director of GE Capital's Corporate Finance business for the U.S. eastern region before moving to San Francisco in 2009 to run its western U.S. region. He'll continue to be based in the Bay Area in his new role.

Since its formation in 1988, the Life Sciences Finance business has been a leader in financing early-stage biotech, pharma and device companies, with significant relationships across the venture capital community that specializes in healthcare.

"Brett has a long history of providing outstanding leadership and developing innovative solutions for customers," said Darren Alcus, president and CEO of HFS. "With Brett's energy and experience, we look forward to fortifying our relationships with our venture capital partners and continued growth in this important space."

"The life sciences space is extremely exciting," said Haring. "These are relatively young companies that are working to solve problems that are crucial for the health of our society. I look forward to continuing to grow the business and furthering our commitments to the life science industry while also leveraging GE's deep domain expertise in healthcare."

Ritchie Bros. Auctioneers (NYSE & TSX: RBA, 'the Company') is pleased to announce that its Board of Directors has appointed Ravi Saligram as the company's new chief executive officer. Saligram will succeed Peter Blake, who will be leaving the Company in July.  It is expected that Saligram will assume his new role as CEO on July 7 and will be appointed as a member of the board of directors of the Company at that time.

"We are very pleased to welcome Ravi Saligram to Ritchie Bros. as CEO. Ravi is a proven leader and an experienced chief executive within the business services sector, and has an impressive track record of driving revenue and profit growth at customer-service focused organizations," said Robert Murdoch, Chairman of the Board, on behalf of all board members.  "Ravi's recognized talent for cultivating strong corporate cultures and his extensive global business experience will benefit Ritchie Bros. significantly as we enter our next phase of growth."

Saligram's 35-year professional career includes three years as president and chief executive officer of OfficeMax and more than 20 years of general management experience at ARAMARK, Intercontinental Hotels Group, and SC Johnson. Saligram has lived in five countries and worked in many more across five continents.  He is noted for his ability to lead consumer, B-to-B and digital businesses and has considerable experience running global, multi-unit service organizations and overseeing large sales teams.

"Ritchie Bros.' leading market position, deep operational expertise in unreserved auctions and highly engaged team committed to customer service attracted me to this role," said Saligram.  "I am excited by the opportunity to further grow the core business in both North America and internationally, and scale new e-based business models to provide comprehensive solutions to customers.  I look forward to partnering with our team to make Ritchie Bros. the premier global equipment solutions company."

In November 2010, Saligram joined OfficeMax as chief executive officer, where he drove innovation and evolved the company from an office products distributor to an omnichannel provider of workplace products, services and solutions.  He successfully championed the merger with Office Depot, which was consummated in November 2013.

Prior to his role at OfficeMax, Saligram served as president of ARAMARK International, and executive vice president and chief globalization officer of ARAMARK Corporation, a world leading professional services company focused on food services and facilities management.  Under his leadership, revenue and operating profits doubled at ARAMARK International in seven years.

Saligram has held senior leadership positions with InterContinental Hotels Group, including: president of Brands and Franchise for North America; chief marketing officer; president, international; and, president, Asia Pacific.  He also held brand and general management roles within S.C. Johnson and Son, Inc., and began his career in advertising with Leo Burnett Company in Chicago, where he developed his relentless desire to meet and exceed customer needs. Saligram earned an MBA from the University of Michigan and an electrical engineering degree from Bangalore University.

Saligram will be based out of the Company's head office in Vancouver. 

June 19, 2014  - July 23, 2014