Wintrust Receivables Finance (WRF) closed a new $3 million account receivable line of credit for a southeast-based transportation broker (Company). This new client is the result of a roll-up of three smaller third-party logistics firms. The Company provides a combination of dry van, flatbed, and LTL freight to clients across multiple industries. The management team utilized a combination of SBA and seller debt to finance the acquisitions but struggled to find the right partner to provide the working capital financing they needed to grow. The new $3 million line of credit will give the Company the working capital support they need to scale the business while continuing to look for future acquisition targets. In addition to the new line of credit, the WRF team is also providing a full suite of Treasury Management products and services.

According to WRF Group Senior Vice President Jason LeuVoy, “We have been impressed with how this management team evaluates potential acquisition targets and the systematic way they have been able to integrate the businesses post-acquisition.”
 
WRF Executive Vice President John Marrinson added, “Our team's extensive experience financing logistics and transportation companies is what allowed us to quickly recognize what the management team was trying to accomplish with the roll-up strategy and provide them with the line of credit needed to execute their plan.”