BHI, a full-service commercial bank, announced that its Specialty and Sponsor Finance Group continued to maintain a high level of activity for new and existing clients during the peak of the global pandemic. The team’s most recent deals include a $55 million senior secured credit facility for a New Jersey-based paper distributor, and an increase in the bank’s revolver commitment of $45 million to support a strategic acquisition for a private equity-owned manufacturer of specialty labels.
The BHI Specialty and Sponsor Finance Group was developed four years ago to offer a comprehensive banking and financial services platform exclusively to middle market financial sponsors, family offices and business entrepreneur clients. Financing capabilities provide for acquisitions, leveraged buyouts, dividend recaps, recapitalization and general corporate purposes, coupled with a complement of ancillary banking services. Since inception, the group has originated and closed more than $500 million in commitments for its clients with the backing of Bank Hapoalim, Israel’s largest bank, which has $130 billion of assets and is “A” rated.
“These transactions are representative of our collaboration with our private equity and business entrepreneur clients to support their growth initiatives,” said Carl Giordano, SVP, Team Leader of the Specialty and Sponsor Finance Group within BHI’s New Jersey Representative Office. “We’ve adjusted and adapted very well in the new normal and will continue to fund appropriate opportunities as the pipeline of activity increases.”
“We take a personal approach and work in partnership with our clients, providing tailored financing solutions to meet their objectives. Since its beginning, BHI Specialty and Sponsor Finance has realized stellar growth in originations and built a prestigious client roster. Our team will continue to be focused on serving the PE sector in the pandemic economy,” said John Yoler, EVP, Division Executive – Head of BHI U.S. Representative Offices.
BHI the U.S division of Bank Hapoalim, Israel’s leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate, C&I, food and beverage, entertainment, apparel, healthcare and high-tech. In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California.
