Garrington Capital provided an $8.3MM senior secured term loan to a third-generation, family-owned short/long-haul regional trucking company.
The borrower serves customers in the southeast and mid-west with a fleet of 120 trucks and 300 trailers, hauling primarily commodities, chemicals, automotive parts, textiles, and other industrial manufacturing products. The company offers specialized services that include dedicated fleets, hazardous materials hauling, and temperature control transport.
The proceeds of the Loan were used to refinance existing debt and to provide additional working capital.