Franklin BSP Lending Company and Franklin BSP Capital Company, Associates of Profit Road Companions, Purchase Encina Tools Finance, LLC – Yahoo Finance

NEW YORK, January 05, 2022–(BUSINESS WIRE)–Franklin BSP Lending Company ("FBLC") and Franklin BSP Capital Company ("FBCC"), enterprise growth firms suggested by associates of Profit Road Companions L.L.C. ("BSP"), as we speak introduced the acquisition of considerably all the fairness pursuits of Encina Tools Finance, LLC ("Encina Tools" or "EEF"), a number one non-bank tools finance platform offering secured leases and loans to middle-market firms. The acquisition supplies EEF with a capital base to help the continued growth of its platform as a number one tools finance options supplier within the US and Canada.
Encina Tools supplies leases and loans secured by revenue-producing, essential-use tools ranging in measurement from roughly $5 million to $50 million to middle-market, non-investment grade firms throughout a variety of industries. Since its inception in 2017, EEF has underwritten greater than 125 transactions totaling over $1 billion in cumulative funded quantity.
Encina Tools will proceed to be led by Rick Matte, its President and CEO, and stay headquartered in Westport, CT. As a part of the transaction, members of the administration crew will retain a minority possession curiosity in EEF. Encina Tools will function independently as a portfolio firm of FBLC and FBCC.
In reference to this announcement, Mr. Matte stated, "We’re excited to embark on our firm’s subsequent stage of development and look ahead to collaborating with BSP to proceed to supply crucial tools financing options to our shoppers. BSP’s credit score experience and cultural match, mixed with a everlasting capital base, make it a great accomplice for EEF. The administration crew and I are additionally extremely appreciative of the inspiration and help now we have obtained from our founding companions at Encina Capital Companions and funds managed by Oaktree Capital Administration, L.P. to place our agency for this subsequent part."
"EEF represents a compelling funding alternative for our two BDCs," stated Richard Byrne, President of BSP and CEO of FBLC and FBCC. "The Encina Tools crew has constructed a best-in-class tools finance platform that’s effectively positioned for continued development. EEF enhances our core personal debt enterprise and broadens the suite of financing options throughout our platform. We’re excited to accomplice with Rick and the remainder of the EEF crew."
Andrew Salter, Founder and CEO of Encina Capital Companions, commented, "I’m grateful for the super help that we’ve obtained from funds managed by Oaktree Capital Administration, L.P. and our lender group in addition to the numerous contributions from my companions Willie Brasser, Ron Fontana and Jason Wolff, and I’m assured that EEF is effectively positioned for a extremely profitable subsequent chapter with BSP."
BofA Securities served as unique monetary advisor to FBLC and FBCC. Wells Fargo Securities, LLC served as unique monetary advisor to EEF. Skadden, Arps, Slate, Meagher & Flom LLP and Reed Smith LLP served as authorized advisors to EEF. Hogan Lovells US LLP, Dechert LLP and Ropes & Grey LLP served as authorized advisors to BSP.
About Encina Tools Finance
Launched in June 2017, Encina Tools Finance supplies loans and leases ranging in measurement from $5 million to $50 million secured by essential-use equipment and tools. The platform supplies financing to each privately owned (sponsor and non-sponsor) and publicly traded firms throughout a variety of collateral varieties and industries (together with, however not restricted to, development, distribution, vitality, meals processing, well being care, info expertise, manufacturing, mining, paper & packaging, and transportation). To study extra, go to http://equipmentfinance.encinacapital.com/.
About Franklin BSP Lending Company
FBLC is a non-listed enterprise growth firm with a $2.5 billion funding portfolio as of September 30, 2021. FBLC’s funding portfolio primarily consists of loans to middle-market firms. FBLC has elected to be regulated as a enterprise growth firm beneath the Funding Firm Act of 1940, as amended. FBLC is managed by its funding adviser, Franklin BSP Lending Adviser, L.L.C., an affiliate of Profit Road Companions L.L.C. For additional info, please go to www.bdcofamerica.com. This press launch isn’t a suggestion to promote any securities issued by FBLC and isn’t soliciting a suggestion to purchase such securities.
About Franklin BSP Capital Company
FBCC is a non-listed enterprise growth firm with $600 million of investor commitments as of September 30, 2021. FBCC’s funding portfolio primarily consists of loans to middle-market firms. FBCC has elected to be regulated as a enterprise growth firm beneath the Funding Firm Act of 1940, as amended. FBCC is managed by its funding adviser, Franklin BSP Capital Adviser L.L.C., an affiliate of Profit Road Companions L.L.C. This press launch isn’t a suggestion to promote any securities issued by FBCC and isn’t soliciting a suggestion to purchase such securities.
About Profit Road Companions
Profit Road Companions L.L.C. is a number one credit-focused different asset administration agency with roughly $36 billion in belongings beneath administration as of November 30, 2021. BSP manages belongings throughout a broad vary of complementary credit score methods, together with personal/opportunistic debt, structured credit score, excessive yield, particular conditions, long-short liquid credit score and business actual property debt. Primarily based in New York, the BSP platform was established in 2008. BSP is an entirely owned subsidiary of Franklin Sources, Inc. For additional info, please go to www.benefitstreetpartners.com.
About Franklin Templeton
Franklin Sources, Inc. (NYSE:BEN) is a worldwide funding administration group with subsidiaries working as Franklin Templeton and serving shoppers in over 165 international locations. Franklin Templeton’s mission is to assist shoppers obtain higher outcomes by funding administration experience, wealth administration and expertise options. By means of its specialist funding managers, the corporate brings in depth capabilities in fairness, fastened earnings, multi-asset options and options. With places of work in additional than 30 international locations and roughly 1,300 funding professionals, the California-based firm has over 70 years of funding expertise over $1.5 trillion in belongings beneath administration as of November 30, 2021. For extra info, please go to franklintempleton.com.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20220105005297/en/
Contacts
Investor Relations Contact:
Amy Theaumont
Amy.Theaumont@franklintempleton.com
(617) 433-2543
It's time to desert as we speak’s obsession with empty development, the CNBC host says.
Shares of software-company Palantir Applied sciences (NYSE: PLTR) has been a darling amongst retail buyers since its publicly traded debut in late 2020, however the firm has loads of skeptics on Wall Road. Palantir inventory was down 6.7% as we speak as of market shut, caught up in one more steep slide for high-growth however richly valued shares. Palantir is now practically 60% under its all-time excessive, reached in early 2021.
Bitcoin slid sharply after the Federal Reserve launched minutes of its December assembly, with coverage makers indicating rising unease over inflation and the potential for rates of interest to begin rising as quickly as this March. Bitcoin was down greater than 4% to $44,200, falling from round $46,000 quickly after the Fed made the minutes public. Fed officers indicated that inflation readings and tight labor situations might warrant an interest-rate enhance “sooner or at a quicker tempo than contributors had earlier anticipated.”
Each investor is aware of that the trail towards earnings lies in shopping for low and promoting excessive. That’s a primary principle of any financial buying and selling system. The trick, nonetheless, is recognizing when the inventory is low sufficient to purchase in. The prime second to purchase is when the inventory hits backside; that may maximize returns when the share value begins to rise once more. There are a large number of potential clues buyers can use to search out the value backside; as we speak, we’ll be insider shopping for traits. Insiders – the company
Novavax (NVAX) shares have been risky lately. Information the EUA submitting with the FDA for its Covid-19 vaccine NVX-CoV2373 has been additional delayed – the corporate solely submitted information in regards to the manufacturing processes, suggesting the EUA submitting remains to be a method off – has not helped issues. Nonetheless, B. Riley analyst Mayank Mamtani notes that the actual fact the ultimate information package deal has been submitted and it consists of Serum Institute of India (SII) generated CMC information that solely lately fashioned the spine f
Adjustments to the market surroundings have instantly solid the digicam expertise outfit's potential in a much less bullish gentle.
(Bloomberg) — The hammering in expertise shares that started to unfold into the broader market Wednesday is being fueled by one of the crucial intense bouts of promoting by skilled speculators for the reason that monetary disaster. Most Learn from BloombergWHO Downplays Menace of Covid-19 Variant Present in FranceU.S. Logs Document 1 Million Virus Circumstances With Knowledge DelayOmicron Circumstances Are Hitting Highs, However New Knowledge Put Finish in SightHawkish Fed Sparks Tech Rout, Treasury Selloff: Markets WrapFed Minutes Flag Likelihood
Block (SQ) shares hit 52-week lows on Wednesday, closing down greater than 8%. The inventory slid as a part of a latest sell-off in development names and dangerous belongings amid considerations of Fed price hikes.
The inventory market rally offered off after a hawkish Fed signaled quicker tightening. Tesla and Microsoft are exhibiting pressure.
Yahoo Finance’s Ines Ferre breaks down how Microsoft is heading for its longest shedding streak since September, Sony's new working firm Sony Mobility is coming into the EV area, and the way Wayfair continues to sink to a 52-week low.
Cash can’t purchase happiness straight, but it surely looks like paying a monetary advisor positive will help. A brand new survey discovered folks with greater than $1.2 million in family belongings report increased ranges of happiness when working with a monetary advisor … Proceed studying → The submit If You Have This A lot Cash, You Ought to Have a Monetary Advisor appeared first on SmartAsset Weblog.
Munger says issues are 'crazier' than the dot-com bubble. However he nonetheless likes this inventory.
On this article, we talk about the highest 10 shares to purchase based on billionaire Steve Cohen. If you wish to skip our detailed evaluation of those shares, go on to the High 5 Shares to Purchase In accordance with Billionaire Steve Cohen. Steve Cohen is the founder, president, and chief govt officer of Point72 Asset Administration, […]
Shares swoon, ending at session lows, after the discharge of the Fed's December assembly minutes present dialogue round trimming the central financial institution's stability sheet.
Know-how shares got here beneath renewed stress on Wednesday whereas the Dow set a contemporary document excessive, with buyers turning away from tech. and development shares in anticipation of upper charges.
Catherine Wooden sees worth within the inventory
Yahoo Finance's Jared Blikre experiences available on the market as shares tumble after the discharge of the Federal Open Market Committee's assembly.
Microsoft, Alphabet, Amazon, and others will proceed to have vital affect on indexes. However look elsewhere for outsize tech returns, UBS says.
Yahoo Finance’s Jared Blikre breaks down Intel inventory rising, GM's newly-announced 400-mile vary Silverado EV, and the tough run for Chinese language shares during the last yr.
Shares of document-management chief Docusign (NASDAQ: DOCU) fell 6.7% as we speak, as of market shut. It's a brand new yr, however the narrative surrounding fast-growing tech shares stays the identical because it was for a lot of 2021: Concern of rising rates of interest retains pushing development shares down. Particularly, minutes from the Federal Reserve's final assembly point out {that a} extra aggressive elevating of rates of interest and different strikes to try to tame inflation may be in retailer sooner reasonably than later.

supply