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UMB Capital Finance Provides $20MM Credit Facility to SOAR Transportation

August 28, 2020, 08:00 AM
Filed Under: Transportation

UMB Capital Finance, utilizing the Accounts Receivable Finance business channel, provided a $20 million credit facility increase to an existing client, SOAR Transportation Group (SOAR), to assist in funding several acquisitions as well as for general working capital purposes. 

SOAR finalized its acquisitions during July and August 2020 and divided the combined business into two distinct legal entities: SOAR (company assets and independent contractors) and Network Transport Holdings (asset light and logistics). Network Transport Holdings, which acquired entities including Network Transport and Robert Heath Logistics, will be a top 75 non-asset logistics company.
Additionally, SOAR, which acquired Robert Heath Trucking, expanded its network coverage, doubled its fleet size to 450 tractors, diversified its customer base and ultimately became one of the top 25 temperature-controlled transportation companies in the United States. UMB’s experienced staff, coupled with its close working relationship with SOAR, provided for an accelerated closing process in order to deliver on a complex transaction with critical deadlines.

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