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MB Business Capital Provides $8.97MM Credit Facility to Premium Transportation Services

January 24, 2019, 07:17 AM
Filed Under: Transportation

MB Business Capital, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of a $8,970,000 senior credit facility to Rancho Dominguez, California-based Premium Transportation Services, Inc. d/b/a Total Transportation Services, Inc.. TTSI is one of the largest delivery carriers from the Ports of Los Angeles and Long Beach – two of the busiest seaports in the world. MB’s credit facility was used to refinance senior indebtedness and to fund ongoing working capital needs.

TTSI is a portfolio company of Los Angeles, CA-based private equity firm Saybrook Corporate Opportunity Funds (“Saybrook”). Saybrook was founded in 1990 and makes investments across several sectors including logistics. Saybrook targets investments in lower middle market companies experiencing operational or financial challenges. 

“MB Business Capital is happy to once again provide a first-rate financing solution for our valued key partner, Saybrook Capital, and their portfolio company TTSI,” said Michael Sharkey, President of MB Business Capital.

“The MB Business Capital team was able to quickly understand our complex corporate and capital structures in an evolving industry and provided a capital solution that fit TTSI and Saybrook’s business needs. Not only did MB Business Capital honor the initial deal, but they also showed tremendous flexibility in accommodating issues that came up during the dynamic closing process – which is the sign of a true partner,” according to Said Al-Alaoui, Principal of Saybrook. 

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