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Global Restoration Holdings has secured a $60 million term loan from Breakwater Management LP. The transaction was part of a recapitalization that included a revolving credit facility led by Wells Fargo. The capital infusion will be used to refinance debt, support future growth for the business and provide a shareholder dividend. Global Restoration Holdings is a provider of disaster restoration, reconstruction and renovation services for residential, industrial and commercial property in response to general loss and catastrophic events. Delos Capital formed Restoration via the merger of portfolio companies Interstate Restoration and FirstOnSite Restoration.
The three banks leading the US$13.5bn-equivalent loan and bond financing backing US private equity firm Blackstone Group’s acquisition of a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk (F&R) unit are set to sign more banks into the deal.
Golub Capital has provided a $245 million debt facility to back Marlin Equity Partners' take-private acquisition of Bazaarvoice. Based in Austin, Texas, Bazaarvoice is a provider of consumer-generated content, advertising and personalization solutions.
Canadian gaming company Gateway Casinos & Entertainment Ltd is planning on inking an agreement to raise a new senior secured credit facility from a syndicate of lenders. Included in the financing will be a $305 million first lien secured term loan facility and an up to C$150 million senior secured revolving facility with a sublimit of $25 million. The capital will be used to refinance the company's remaining senior debt. Gateway Casinos is backed by Catalyst Capital.
A flurry of huge US acquisitions is pushing high-grade M&A lending to early year highs as blue-chip firms take advantage of US tax reform and try to fight off the threat of online retail giant Amazon, Reuters reported.
Five Points Capital has provided a debt facility and equity financing to support GPSTrackit's growth initiatives and its acquisition of TSO Mobile, a provider of SaaS-based asset tracking and fleet management solutions for fleets and municipalities. No financial terms were disclosed. GPSTrackit is backed by Inverness Graham Investments.
Apollo Global Management has formed Apollo Delos, an investment platform that will invest in Italian corporate credit opportunities. Apollo will work with Italian investor and adviser Apeiron Management SpA on this initiative. The partnership is looking to invest between 5 million and 50 million euros via debt and equity investments.
Guggenheim Investments has agreed to provide debt facilities to Accel-KKR to support the latter's refinancing of Kerridge Commercial Systems, a provider of software solutions to retail, wholesale, merchant and distribution markets. No financial terms were disclosed. Accel-KKR made its first investment in KCS in 2015.
Stellus Capital Management LC provided a senior credit facility and equity financing to back Summit Park's acquisition of Fast Growing Trees LLC. No financial terms were disclosed. Based in Fort Mill, South Carolina, FGT is a provider of trees and shrubs through its websites fast-growing-trees.com and brighterblooms.com.
Capital Southwest has provided $14.5 million in growth funding to Amarillo, Texas-based Apollo MedFlight, a provider of air medical transportation services. The financing was comprised of a revolving credit facility, first lien term loan, delayed draw term loan and minority equity investment.
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