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Integrated Asset Management Corp (IAM) has provided an $8 million senior loan to Blackstone Industrial Services, a Sherwood Park, Alberta-based equipment service firm focused on critical infrastructure for food production, oil and gas, petrochemicals and the infrastructure industry. The capital infusion will be used to acquire Nuovo Parts, a Surrey, British Columbia-based specialty Italian parts reseller in North America. Based in Toronto, IAM is an alternative asset management firm that invests in real estate and private debt.
Atlas Sand Company, a frac sand reserve holder in West Texas, has secured a $150 million credit facility from BlackGold Capital Management LP. The capital will be used to fund a portion of the ongoing construction of Atlas' Kermit and Monahans frac sand plants and for general company purposes.
Capitala Group has invested $15 million in debt and equity in US Bath Group LLC. Based in Fairland, Indiana, US Bath Group is a provider of custom bathroom products.
Aflac has increased its minority equity stake in middle-market financing provider NXT Capital for about $75 million. Also, Aflac Global Investments, Aflac's asset management subsidiary, has committed to fund a portfolio of up to $2 billion commercial real estate loans in the U.S. These transactions are part of a partnership formed nearly a year ago between Aflac and NXT to manage a portfolio of mid-market corporate loans.
Struggling Noble Group (NOBG.SI) has struck a deal with creditors to restructure $3.5 billion of its debt in exchange for 70 percent of the company, with existing equity holders’ combined stake diluted to only 10 percent, Reuters reported.
Comprehensive Logistics Co LLC has secured a $25 million mezzanine debt investment from PineBridge Structured Capital. CLI is a third-party logistics firm that provides engineered warehouse, assembly and supply chain performance management services for the automotive, agricultural and industrial manufacturing sectors.
Adaptive Health Capital has provided debt financing to Pasadena, California-based GrandCare Health Services, a provider of home healthcare services. No financial terms were disclosed.
Austin-based Pennybacker Capital LLC, a real estate private equity firm, has named Dave Stahl as managing director of distressed credit and special situations. Previously, Stahl worked at Lone Star Funds/Hudson Advisors where he most recently was director of special assets.
Comvest Credit Partners has closed its fourth direct lending fund at $836 million, beating its $650 million target. Comvest Capital IV LP will provide senior debt, unitranche credit facilities, junior debt and equity co-investments, with transactions ranging from $20 million up to $200 million. Kirkland & Ellis LLP served as legal adviser on the fund.
Business Capital has provided $4 million in financing to support Asteria Education's acquisition of ECS Learning Systems. Based in Texas, ECS is a provider of test prep materials and software for reading, writing, mathematics, science and critical thinking skills.
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