Wells Fargo boosts loan to Ares Commercial Finance to $450 mln

Wells Fargo Capital Finance, part of Wells Fargo & Co., said Monday it increased a loan to Ares Commercial Finance LP (ACF), which is managed by Ares Management LP, to $450 million from $150 million. ACF recently bought the asset-based lending portfolio of First Capital Holdings Inc. With the transaction, the Ares Commercial Finance platform will have about $700 million of loan commitments.

Ice Mobility raises $65 mln

Ice Mobility has raised $65 million in debt and equity growth capital from Wells Fargo Capital Finance and Hawthorn Equity Partners. Vernon Hills, Illinois-based Ice Mobility distributes wireless products and provides supply-chain solutions. News of the financing was announced by Intrepid Investment Bankers which advised on the deal.


Wells Fargo Capital Finance beefs up team with new hire

Wells Fargo Capital Finance, a unit of Wells Fargo, has appointed Ryan Birnel as business development officer for the loan originations team in Denver. In his new position, Birnel will be in charge of sourcing and structuring asset-based financings for opportunities originated in Colorado, Utah, Wyoming and Montana.


Wells Fargo Capital Finance to provide $8.4 mln to Workshare

Workshare has inked an agreement to receive a $8.4 million credit facility from Wells Fargo Capital Finance, which is part of Wells Fargo Bank. Workshare develops secure enterprise collaboration apps. Its backers include Business Growth Fund and Scottish Equity Partners.

Wells Fargo Capital Finance sets up financing program for Dell

Wells Fargo Capital Finance has established a channel financing program for global technology solutions company Dell. Dell Financial Services, in cooperation with Wells Fargo’s Capital Finance Channel Finance Program, is able to offer special extended financing terms, interest-free, to their resellers and channel providers.

Teletrac to Use $100 Mln Loan to Refinance Debt, Pay Dividend to Vector Capital

Wells Fargo Capital Finance, part of Wells Fargo & Co., and Capital One Bank said Friday they co-led the closing of a $100 million loan for Teletrac and subsidiaries. Teletrac, which is backed by Vector Capital, provides fleet management devices and systems to long haul, local, service and delivery fleets. Teletrac plans to use the proceeds to refinance senior debt, provide a dividend to the sponsor and to financing ongoing working capital requirements.

KDA Acquires TMP Assets

Local marketing strategy provider Ketchum Directory Advertising has acquired select assets of New York-based local search agency TMP Directional Marketing, as well as the closing of a senior secured credit facility with Wells Fargo Capital Finance. FocalPoint Securities acted as KDA’s exclusive financial advisor on both transactions. PRESS RELEASE Ketchum Directory Advertising Inc. (“KDA”) has […]

FastPay Secures $25M in Funding

Los Angeles-based FastPay has raised an additional $25 million in funding. The funding is comprised of a senior credit facility from Wells Fargo Capital Finance and a subordinated debt and equity investment from SF Capital Group.

Access Point Financial Secures Stone Point Investment, Wells Fargo Capital Facility

Access Point Financial has closed on a senior secured credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Co. Stone Point Capital, a Greenwich, Conn. PE firm, has also made a “substantial” equity investment in Access Point, according to a statement. Access Point, formed by APF management and Stone Point, is a lender and advisory company focused on the hospitality industry.

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