Siena Lending Group LLC (“Siena”) announces the completion of a three-year $4 million asset based credit facility for a facility management and maintenance company (“Company”). The credit facility will be used to refinance its existing senior debt and to provide additional working capital.

The Company provides facility management and maintenance services through an external network of trade service contractors. Based in Long Island, NY, the Company focuses on regional and national retailers, restaurants, and commercial companies with multiple locations who can benefit from one point of contact for vendor selection, price negotiation, dispatch coordination, and billing. Services provided include facility retrofits, carpentry, electrical, plumbing, remodeling, painting, landscaping and security. Prior to this refinancing, the Company was financed by a community bank with the loan being serviced by Siena, part of Siena’s ABL Alliance platform.

Scott Elliotto, Director of Siena Lending Group, said, “This is a great example of the benefits of our ABL Alliance program. We were able to transition the Company from a bank’s balance sheet to our balance sheet in a seamless and efficient manner with a limited due diligence process. We are very happy to provide this facility to the Company and look forward to continuing our relationship.”

The client was a nonprofit organization that provides education, behavioral health and child welfare services to children, adolescents and families.

Siena Lending Group LLC (“Siena”) announced the completion of a three-year $6 million senior secured credit facility for OL International Holdings LLC on November 14, 2014. The facility was used to fund a portion of the acquisition and will be used to support the company’s working capital going forward.

OL International Holdings LLC, based in New York, is an international logistics company providing sophisticated ocean and airfreight forwarding solutions to over 1,000 customers worldwide.

David Grende, President and CEO of Siena Lending Group, said, “We are pleased that we were able to team up with Headhaul Capital Partners and support this acquisition. We’re impressed by the leadership in this business and look forward to working together to help management meet all of their future goals.”

Seth Wilson, Headhaul Capital’s Managing Partner, stated, “We are excited about the acquisition and are looking forward to working with the management team to expand operations and to continue the high level of service our customers have come to expect from OL International. Siena was a great finance partner through the closing and we are happy to be working with them going forward.”

Headhaul Capital Partners LLC is a New York-based middle market private equity firm focused on acquiring and building businesses in the transportation, logistics & distribution industries.

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $25 million to small- and middle-market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.

Siena’s independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry.

Siena Lending Group announced ("Siena") the completion of a three-year $6.7 million credit facility for ITG Communications, LLC (“ITG”) to refinance their existing senior debt and to support their continued growth. The facility included a $5 million asset based revolver and a $1.7 million term loan. SSG Capital Advisors acted as the exclusive financial advisor and investment banker to ITG.

Headquartered in Hendersonville, TN, ITG Communications, LLC is a national provider of fulfillment, construction and project management services to the cable and telecommunications industries. ITG was acquired by its current owners in 2014 and operates throughout the Central and Southeastern U.S.

David Grende, President and CEO of Siena Lending Group, said, “we are pleased to have been able to work with Peter and his team as well as SSG to get this transaction closed, with a few twists and turns along the way. The Company is well regarded by their major customer and we are pleased to provide the runway for the growth they are experiencing.”

Commenting on the announcement, Peter Giacalone, Co-Founder and Chairman of ITG Communications, LLC, stated, “We look forward to working with the Siena team to support our growth initiatives over the next several years. The structure of our credit facility will allow us to expand our market share in our current locations and expand into new projects.”

Mark Chesen, Managing Director of SSG Capital Advisors, said, “Siena provided a creative financing solution beyond what you expect from an asset based lender that allows ITG to continue to implement its impressive growth plan in multiple territories throughout the country without having to give up equity.”

Siena Lending Group LLC (“Siena”) announced the completion of a three year, $10 million senior secured revolving credit facility for Hudson Global Resources Management, Inc. (“Hudson”). The facility will be used to repay the company’s existing lender and for working capital needs.

Headquartered in New York City, Hudson is the US operating subsidiary of Hudson Global Inc., a global company operating in 20 countries with over $600 million in revenue. Hudson Global, Inc. is a NASDAQ-listed company and was spun off from Monster, Inc. in 2003. Hudson is a professional-level recruitment and related talent solutions provider. The transaction was completed in conjunction with a European-based revolving facility for Hudson Global Inc.’s UK operating subsidiary.

David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to provide Hudson with the capital that they will need in a flexible structure that will allow them to continue to execute on their operating strategy in the US.”

David Kirby, VP of Finance and Global Treasurer of Hudson, said, “We are very pleased with Siena’s execution in closing the transaction in a timely and efficient manner. Siena offered us a very flexible covenant structure that will allow us to operate our business more efficiently.”

Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $20 million to small and middle-market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset-based product for community and regional banks that desire improved operating metrics and asset diversification.

Siena’s independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry. The team has, on average, over 20 years each of experience and has transacted over $12 billion in facilities.

Lovesac is a premium sofa brand whose primary sales channels were mall stores and eCommerce. Headquartered in Stamford, CT, just a couple blocks from Siena, the company was growing rapidly and needed capital to fund store builds and rebuilds.

Siena Lending Group (“Siena”) announced the completion of a three-year $10 million senior secured revolving credit facility as part of a $25 million refinancing for Horizon Coach Lines (“HCL”). The financing was completed in conjunction with a capital lease from Nations Equipment Finance, LLC. Headquartered in Dallas, TX, HCL is a leading motor coach company that provides transportation for groups ranging from 10 to 100,000 with a fleet that includes luxury and standard motor coaches, transit and mini buses.

David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to work in conjunction with Nations Equipment Finance to provide an overall credit facility that will give HCL the ability to maximize the return on their fleet investment. We look forward to working with the company as they continue to execute their business plan.”

Frank Sherman, CEO of TMS, said, “We are very pleased with Siena’s execution in closing the transaction and their coordination with Nations Equipment Finance. They were able to act quickly and worked very hard in bringing the transaction to a quick close.”

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $20 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.

Siena’s independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry. The team has, on average, over 20 years each of experience and has transacted over $12 billion in facilities.

Siena Lending Group LLC (“Siena”) announces the completion of a three-year $15 million asset-based revolving credit facility for Diversified Mercury Communications, LLC dba Mercury Media (“Mercury”). The facility will be used to support the company’s working capital needs. Intrepid Investment Bankers acted as the exclusive financial advisor to Mercury.

Founded in 1989 and headquartered in New York City, Mercury is one of the largest privately-owned performance marketing agencies in the country. Mercury develops and implements media strategies that exploit market inefficiencies to deliver profitable growth across the TV/video landscape. Mercury deploys a variety of test design and analytical techniques, including multivariate analysis, match market testing and predictive modeling to assess the most effective messages, markets, and channels in-order to maximize clients’ return on their marketing investment. Mercury is privately-owned by affiliates of Eos Management, L.P., a private investment firm with approximately $1 billion of private equity capital and commitments, along with the company’s founders and management.

Scott Elliotto, Director of Siena Lending Group, said, "We were able to structure a facility that provides Mercury with greater flexibility and incremental liquidity to support its growth strategy. Mercury has a proven management team and strong sponsor, and we look forward to working with them.”

Jonathan Zucker, Head of Capital Markets at Intrepid, stated, “We have a longstanding relationship with both Mercury and Eos and are pleased to have helped them complete this financing. We know Siena will be a great partner to support the company’s working capital needs going forward.”

About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity, and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.