Citizens Bank Provides $20 Million Credit Facility to Luxury Jewelry Firm David Webb, LLC
Super G Funding, LLC, a leading national provider of residual and cash flow-based loans to lower middle market businesses, is pleased to announce the hiring of Eric Von Stafford. Based in San Francisco, Stafford is joining Super G to help scale the growing cash flow lending division with a specific focus on continuing to build strong partnerships with small-to-medium investment banks and business brokers nationally.
Stafford has been a senior investment professional in the direct private debt market for over 10 years. Prior to joining Super G, he held the role of managing director at multi-billion lending funds including White Oak Global Advisors and Medley Capital where he originated and underwrote over $300 million in senior secured and subordinated loans. Prior to his direct lending experience, Stafford was a vice president at Montgomery Securities (convertible debt division) and Goldman Sachs (high yield bond division). Stafford earned a B.A. from Georgetown University and an MBA from the Booth School of Business at the University of Chicago.
“Eric will help us grow our core second lien stretch piece business as well as special situation business and bring new relationships given his ties to the investment banking and deal sourcing community throughout the country,” said Charlie Perer, head of originations for Super G’s Cash Flow Lending division. “I am very excited to join Super G with the goal of building out a national network of mid-market investment banks and creating awareness for sub $5 million, non-dilutive subordinated capital,” said Stafford.
Super G Funding is an alternative lender specializing in residual and cash flow loans. Super G’s mission is to fill the credit void in the lower middle market by providing non-dilutive, senior and subordinated debt solutions to businesses in need of financing for working capital, growth capital, acquisition capital, or special situation financing. Super G’s second lien product is complementary to senior lenders and is structured to fund the financing gap (airball/stretch piece)—the portion of a loan that exceeds the amount supported by the underlying collateral and is dependent on support from the company’s cash flow or enterprise value.
Super G lends up to $5 mm per transaction in the form of a fully-amortizing cash flow term loan with a 6-36 month term (pricing contingent on credit profile). Super G is a small, but nimble team, highly responsive, and can close deals rapidly. www.supergfunding.com
US Capital Partners Inc.has advised on well-structured, custom project financing of $7 million for the construction of a La Quinta Inns & Suites hotel in Lodi, San Joaquin County, California. The 40,000 square foot, 76-room hotel will be located at 1136 S. Cherokee Lane in Lodi, a city well-known for being a center of wine grape production.
Headquartered in San Francisco, US Capital Partners is a full-service private investment bank that makes direct debt investments, participates in debt facilities, and has wide distribution for debt and equity private placements. The firm has a history of successful closings in the commercial and residential real estate sectors.
Yogesh Patel, principal at Lodi Vineyards Hospitality, LLC, the developer for the project, said: “We’ve appreciated the creative financing solutions and attention to detail US Capital Partners has delivered while advising us on the development of our project and providing financing options.”
“We are extremely pleased to have advised on this $7 million project financing for a landmark La Quinta Inns & Suites hotel development in Lodi,” said Jeffrey Sweeney, Chairman and CEO at US Capital Partners. “The developer approached our firm for help in securing suitable construction financing and to better understand the various options available to the firm. US Capital Partners provided intelligently structured financing, while successfully increasing the loan-to-value ratio for the project.”
Founded in 1968, La Quinta Inns & Suites is a chain of hotels in the United States, Canada, Mexico, and Honduras. Shares in the company are listed on the New York Stock Exchange under the symbol LQ. Headquarters in Irving, Texas, the company owns and operates over 800 properties and franchises approximately 295 under various brand names. Most La Quinta Inns are built with Spanish or Southern architecture.
Since 1998, US Capital Partners (www.uscapitalpartners.net) has been providing well-structured, custom finance solutions to private and public companies with up to $250 million in top-line sales revenue or project size. Headquartered in San Francisco, US Capital Partners is a private investment bank that makes direct debt and equity investments between $500,000 and $100 million, participates in debt facilities, and has very wide distribution for debt and equity private placements. The firm also offers financial advisory services for buy-side and sell-side engagements and for capital formation, including early-stage financings requiring equity or debt.
Hilco Streambank Announces the Acquisition of Iconic Golf Brand PowerBilt® from Hillerich & Bradsby
Powerbilt Holdings, LLC, a joint venture between Hilco Streambank and CEO of One Step Up Apparel - Harry Adjmi, announced today that it has completed the acquisition of the PowerBilt golf and sporting goods product portfolio from Hillerich & Bradsby Co. (“H&B”) in a private sale.
PowerBilt is a 100-year-old brand with a history of accomplishment in both the PGA Tour and majors. PowerBilt equipment is available in major golf markets around the world, including North America, South America, Europe, Japan and Australia. The PowerBilt brand of products has been owned and operated by Hillerich & Bradsby which has manufactured and marketed a complete line of performance golf equipment and accessories for men, women and children at affordable prices.
Powerbilt Holdings plans to honor the brand’s history and legacy as a performance golf equipment company through the expansion of its core golf equipment lines into several other related categories, including apparel. Gabe Fried, CEO of Hilco Streambank said, “We are excited about the strength and historical equity of this brand and are already developing plans for expansion.”
The PowerBilt brand of products has been an integral part the golf equipment category for over a century building a strong following among both golf professionals and everyday golfers from around the world. Fried added “We’re confident that we can leverage the brand’s rich history of delivering the high quality products as we build on the existing legacy. Golf enthusiasts can expect to see the iconic orange Powerbilt golf bag on the professional greens again very soon.”
John Hillerich, CEO of Hillerich & Bradsby said, “We are proud to have owned and marketed this iconic brand for over 100 years and to have provided golfers at all levels of the sport with superior quality products at affordable prices. We are certain that Hilco Streambank and their JV partners will build upon this rich history and expand the brand with our current licensees and future best in class partnerships.”
Fried indicated that as partners, Hilco Streambank and One Step Up Apparel plan to reinvigorate the iconic label and build on its current global presence, adding new revenue streams through strategic initiatives including brand licensing deals, new products and designs, expanded distribution and increased brand marketing.
Hilco Streambank, a division of Hilco Global, is a market leading advisory firm specializing in intellectual property disposition and valuation representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global (www.hilcoglobal.com
), a worldwide financial services company and a leader in helping companies maximize the value of their assets.
Hillerich & Bradsby Co. is a sporting goods manufacturer and operator of the Louisville Slugger Museum & Factory. The company also produces Bionic Gloves. H & B has manufactured Louisville Slugger® wood bats, the Official Bat of Major League Baseball®, since 1884. H&B has owned the Louisville Slugger brand from its inception in 1884 to 2015 when it was acquired by Wilson Sporting Goods. H&B now serves as Wilson’s manufacturing partner for wood bats. The Louisville Slugger Museum & Factory attracts more than 300,000 visitors per year and is ranked as a top national and international attraction. The museum features pieces of baseball history including a Babe Ruth game-used bat from the record breaking 1927 season and a Joe DiMaggio 56-game hit streak bat from the historic 1941 MLB season. H&B’s Bionic® gloves division designs and makes the most technologically and scientifically advanced gloves for golf, fitness, gardening and other sports.