Burdale Capital Finance, Inc. has appointed
Steve Sanicola
as a Director and Head of Portfolio Management with immediate effect. Steve will be located at Burdale’s
Stamford, CT
office.
Steve Sanicola joins Burdale with 30 years ABL experience in lending and portfolio management, most recently with New Stream Capital, LLC where he was Managing Director Risk with responsibility for all portfolio and underwriting functions within the commercial finance portfolio. He spent 12 years with GE Capital as SVP Portfolio and Underwriting – Corporate Lending and Chief Risk Officer-Business Credit. Prior to GE Capital he was a Region Manager at Shawmut Bank responsible for generating new business and managing a $200 million portfolio.
Steve will be responsible for the overall management of all portfolio and US ABL risk functions. In addition he will help to support the continued development of Burdale’s business footprint within the
US
asset based lending market.
David Grende, Chief Executive of Burdale added: “We are delighted that Steve is joining our dynamic business. His considerable expertise will strengthen our business further. “
Burdale offers senior secured asset based loans in the $20-$75 million range with the capability to underwrite loans of up to $200 million. Financings are provided for early and mid-stage turnarounds, restructurings, leveraged buyouts and general refinancings. Burdale also has the unique capability to seamlessly finance trans-Atlantic middle market transactions. Recent transactions include:
- Provision of a secured revolving exit facility for Velocity Express Corporation, the largest provider of time definite regional delivery solutions in the US;
- Provision of a senior credit facility for Winnebago Industries, Inc, a leading U.S. manufacturer of motor homes; self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities.
