Stonegate Capital Closes
on Revolver for CSI
Stonegate Capital has closed on a $7MM revolving facility for Catastrophe Solutions International, (“CSI”), a global leader in automobile catastrophe appraisals and repairs. CSI primarily operates in the automotive hail damage industry to provide paintless dent removal services to insurance companies, automotive dealerships and body shops. CSI is majority owned by the Chicago based private investment firm, Concentric Equity Partners, who engaged Rush Street Capital to advise them on the debt raise. Stonegate Capital put in place a flexible facility to help support CSI’s seasonal and international operations. With the committed backing by both management and Concentric, Stonegate Capital is extremely excited to work with the Company’s dedicated team as they successfully execute their expansion plans.
Stonegate Capital Promotes Ryan Woody and Announces New Team Members:
Stonegate Capital is pleased to announce that Ryan Woody has been promoted to Managing Director, Credit and Operations, in the Chicago office. “Since joining us a little over a year ago, Ryan has been instrumental in helping to build out our operational and credit functions, and we are excited to have him support our ever-growing portfolio,” said Darren Latimer, CEO. Ryan began his commercial lending career in 2002 at GE Capital, and has also held various credit and operational roles at Wintrust, Bridge Finance Group, Gibraltar Business Capital, and Wells Fargo. Ryan’s extensive experience spans a broad range of commercial debt products including asset based, cash flow, health care, factoring, and rediscount. At Stonegate, he will be responsible for managing credit, collateral monitoring, loan accounting, and treasury.
Stonegate has also added two new team members to its Chicago office. Dan McCallum joins Stonegate’s Underwriting and Credit Team as a Director. Dan will leverage his years of underwriting experience to help lead and execute deal closings across all three of Stonegate’s investment platforms. Karen Szafraniec joins the Credit and Operations team as a Vice President. Karen, an industry veteran with over 18 years of experience, will be an immediate asset to the back office support team for Stonegate. Tony Cappell, Head of Underwriting, noted: “Both Dan and Karen are tremendous additions to our team, and they will both be instantly valuable in support of the significant growth we are experiencing in our lending platform.”
Stonegate Capital hires Garett Figueroa to drive private equity business development efforts:
Stonegate Capital is pleased to announce that it has hired Garett Figueroa as a Vice President in its Chicago office. “At Stonegate we pride ourselves on bringing debt structuring sophistication to the lower middle market,” said Andrea Hedrick, Stonegate’s Head of Originations, “and Garett's originations background both in the UK and here in the states aligns perfectly with our goal of becoming the go-to lender for the sponsor backed market."
Stonegate is seeing significant activity in its three investment niches of i) asset based, ii) high-growth consumer product, and iii) recurring revenue software. Garett’s credit experience and his connectivity to the private equity market will immediately be additive to business development efforts. He will be responsible for sourcing senior debt facilities ranging from $2-$15 million within the private equity community across Stonegate’s nationwide footprint, and will instantly be a huge asset to the Stonegate team.
Before joining Stonegate, Garett spent the past seven years at PNC’s Asset Based Lending group, leading due diligence engagements of prospective middle market and large corporate borrowers, most recently in the private equity coverage group. Garett holds a BS in Business Administration & Management from the University of Southern California’s Marshall School of Business.
“I am extremely excited to join the Stonegate team,” said Figueroa. “The momentum they are experiencing in their business is tremendous, and I’m looking forward to contributing to the growth and success of their investment platform going forward.”