Labor SMART, Inc. Boosts Its Line of Credit; Maximum Borrowings Increased to $4 Million

Valeant Pharmaceuticals International, Inc. Announces Launch of Private Offering of Senior Notes 

Breakaway Capital Announces New $50 Million Lower Middle Market Fund, Closing Of Financing For The Thomas Kinkade Company

FLOCK Specialty Finance Taps Investment Banker John Wheeler, Former Managing Director at Renova Partners, LLC as New CFO

CapX Partners announced their closing of a $6 million equipment lease line of credit to support the financing needs of All Around Roustabout, LLC (AAR), an energy services company focused on oil and natural gas.

All Around Roustabout (AAR) provides drilling support services, completion and production-related tasks for oil and natural gas companies, building, repairing, modifying, and maintaining equipment, sites, wells, and pipelines. Founded in 2008, the company has grown rapidly, becoming the dominant solution for energy services in the West. Their private equity partners introduced AAR to CapX Partners with the objective of efficiently procuring and financing their new investment in machinery and equipment, which would enable them to keep up with a growing and diversifying customer base.

Based in Colorado's Front Range area, AAR delivers a one-stop-shop solution to producers by offering a complete host of field services such as: complete roustabouts, flow line installation, 24-hour hot shot services, pot holing, dump truck services, 24-hour welding, rig access building, equipment rental, potable water service, environmental services, solid waste dumpster services, etc. To fulfill customer demand for its services, AAR looked for growth capital to help increase its operating capacity.

Recognizing AAR's success in growing its customer base, expanding its service offerings, and maintaining an exceptional reputation for superior service and a flawless safety record, CapX provided a customized equipment lease line of credit that is being used to finance new capital expenditures. CapX's lease facility will fund new machinery and equipment that will be immediately put into the field to service AAR's contracts with oil producers and drilling companies located throughout the United States.

"We needed a timely and practical solution to continue on our path of growing our business. CapX Partners provided a timely and responsive solution, proving to be a terrific long term partner to AAR Companies. Our future growth plans will be closely connected to those of CapX Partners," says Frank Nisenboim, Private Equity Sponsor.

"After being informed about the investor group's acquisition of AAR, CapX quickly reviewed the business model and met with management/ownership to get a better understanding of the strategy going forward. CapX was then able to customize an equipment lease facility that would provide AAR with sufficient capital along with flexibility to efficiently make acquisitions. CapX looks forward to supporting the ownership/management team in the years to come," says Bryan Rozum, Vice President, CapX Partners.

Gulf Coast Business Credit (GCBC) owes much of their success to bank referral sources.  Recently, GCBC partnered with a community bank and provided a $1 million working capital facility to a Louisiana based oilfield service company.

GCBC was able to partner with the community bank and develop a combined working capital solution that delivered exactly what the company needed. The community bank will continue to maintain the company's line of credit while carving out a concentrated debtor from their borrowing base for GCBC to factor. The community bank subordinated their interest in this one debtor and maintained a first position on all other receivables.

With this combined working capital solution, the company can now maintain a relationship with their community bank while continuing to grow with the assistance of ongoing capital provided by GCBC. 

J D Factors provided the following factoring facilities: $50,000 to a transportation company in New Jersey; $300,000 to a transportation company in Illinois; $200,000 to a transportation company in Ontario; $2,500,000 to a transportation company in Illinois; $500,000 to a transportation company in Texas and $750,000 to a maintenance company in British Columbia.

Monroe Capital LLC announced an increase in the credit facility to MSDP Group LLC (MSDP) to support the acquisition of ACCEL Performance Group (ACCEL).MSDP is a portfolio company of Hot Rod Brands, LLC, an affiliate of Z Capital Partners, LLC.

Based in El Paso, TX, MSDP operates in the street enthusiast, professional racer and powersports markets, where they maintain industry-leading market share positions across all of their product categories under the MSD®, Racepak®, Superchips®  and Edge® brands. ACCEL is a prominent performance aftermarket parts manufacturer with brands including ACCEL, Mr. Gasket, Mallory Ignition, Lakewood, QuickTime and Hays brands. The acquisition of ACCEL brings together two industry leaders of the automotive aftermarket, resulting in increased capabilities and an unmatched footprint in the aftermarket platform. Furthermore, with this complementary acquisition and ACCEL's impressive portfolio of brands, MSDP has a greater ability to serve its customers with new, innovative product offerings at a higher level of personal service.

First Growth Capital, a division of First Capital, announced that it provided $2.3 million in working capital credit facilities during Q4 2014.  The various facilities are collateralized by the clients' account receivables.

The facilities include $1 million for a cellular site maintenance company experiencing high growth, $.5 million for a wireless carrier maintenance and audit services company needing more availability, and $.8 million for a contract manufacturer looking for a flexible lender offering tailored financing facilities.

"We ended the year in a good position as we have a variety of clients and the industries to which they belong," remarked Jay Atkins, president of First Growth Capital. "We encountered many companies in 2014 that needed our financing packages and quality invoice purchasing to help their businesses succeed."

First Growth Capital provides working capital facilities starting at $250,000 for small and middle-market business owners with annual revenue of at least $1,500,000 all the way up to $100,000,000. Credit facilities are in the form of recourse factoring and non-traditional asset-based lending arrangements. 

First Growth Capital provides client services and business development from its location in Boynton Beach, FL, managed by Jay Atkins, president of First Growth Capital, with an additional regional sales office throughout the United States. 

Paul Hastings LLP, a leading global law firm, announced that it represented Citigroup Global Markets Inc., Barclays Capital Inc., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, Regions Securities LLC and Allen & Company LLC as underwriters in connection with the public offering of $200 million principal amount of 4.75% senior notes due 2022 by Centene Corporation, a provider of healthcare programs and services to government sponsored healthcare programs. Net proceeds of the offering are expected to be used to repay amounts outstanding under Centene Corporation's revolving credit facility and to pay related fees and expenses, as well as for general corporate purposes.
Finance partner John Cobb led the Paul Hastings team, which also included associates Joe Fastiggi, Keith Gartner, Jared Bryant, Molly Vaughan and Barrett Wilson-Murphy.

Salus Capital Partners, LLC, a private commercial finance and asset management company providing senior secured asset-based loans to the middle market, is honored to announce that it has been selected as the Lending Firm of the Year and Kyle C. Shonak, executive vice president of Special Assets, has been named Distressed M&A Dealmaker of the Year by The M&A Advisor. The awards will be presented at the 9th Annual M&A Advisor Turnaround Awards on Monday, February 23 at The Colony Hotel in Palm Beach, FL.

"Salus Capital was conceived to provide alternative lending solutions to meet the challenges and demands across the middle market for increased liquidity and flexible loan structures. We are honored to be named Lending Firm of the Year by The M&A Advisor," said Andrew H. Moser, co-founder, president and CEO of Salus Capital Partners.

Since its inception in 2011, Salus has continuously originated innovative financing solutions that allow companies to monetize the true value of their assets. These awards are a reflection of the notable growth of the firm's portfolio and team in 2014.

"On behalf of everyone at Salus, I congratulate Kyle and our Special Assets team for garnering the honor of Dealmaker of the Year," remarked Moser. "This award emphasizes our ongoing commitment to provide borrowers that are navigating a myriad of business challenges with meaningful solutions to seemingly unsolvable situations. Kyle leads his team by example and continually demonstrates an unwavering drive in working tirelessly through difficult situations to generate the best possible outcomes for all constituents. We are incredibly proud of our entire team who have all helped us earn this recognition."