The U.S. truck freight market ended 2023 with further declines in both shipment volume and spending, according to the latest U.S. Bank Freight Payment Index. Compared to the same period in 2022, fourth quarter shipment volume was down 15.7 percent...
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February 02, 2024, 07:05 AM
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Fourshore Partners announced its acquisition of Power Funding, a premier factoring company focused on the oil & gas and transportation industries.Power Funding provides working capital to the oil & gas and trucking industries through the purchase of...
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January 02, 2024, 07:59 AM
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Wintrust Receivables Finance (WRF) closed a new $7.5 million account receivable line of credit for a Midwest-based transportation broker that specializes in drayage. Drayage is the transport of goods by truck from a seaport, inland port, or...
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November 16, 2023, 07:47 AM
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Nations Capital (NCI), a Gordon Brothers company, together with Ritchie Bros. Auctioneers received bankruptcy court approval to be the agent and liquidator of Yellow Corporation's transportation assets.The companies will utilize the expansive...
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November 03, 2023, 07:39 AM
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nFusion Capital announced they have sold their transportation factoring portfolio to a leading provider of factoring services for motor carriers and owner-operators. This strategic decision will enable the Company to focus on growing their core...
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September 22, 2023, 08:00 AM
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Amerisource Business Capital closed and funded a $1,000,000 working capital facility and Equity Co-Investment for a Texas-based technology platform for moving and transportation services. The proceeds were used to provide working capital to support...
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September 11, 2023, 07:40 AM
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Following on the heels of rising economic expectations, ACT Research’s forecasts for Classes 5-7, Class 8 and trailer output in 2023 and 2024 move higher again this month, as published in the latest release of the North American Commercial Vehicle...
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August 14, 2023, 06:00 AM
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Yellow Corporation and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware for the Company’s planned...
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August 07, 2023, 08:07 AM
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Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, designed a flexible financing solution to a growing transportation solutions provider to expand its physical presence across Canada and maximize its working capital....
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May 31, 2023, 07:50 AM
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Clarus Capital completed the arrangement of a $70 million lease facility for a leading sponsor-backed transportation service provider. Financing proceeds supported strategic growth initiatives and fleet expansion. Clarus funded half of the facility...
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May 15, 2023, 07:29 AM
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First Business Bank announced its Accounts Receivable Financing team recently funded a $10 million Accounts Receivable Ledgered Line facility to a client operating as a transportation brokerage. “This transaction is an example of First Business...
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January 20, 2023, 07:20 AM
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Evans Transportation Services closed a new credit facility with PNC Bank. The new larger credit facility will serve as a vehicle for supporting the company’s current growth trajectory, which includes a revenue increase from $80 million to $400...
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December 21, 2022, 07:28 AM
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eCapital announced the appointments of four Business Developments Officers (BDOs) to further expand the company’s Transportation Division in the U.S. and Canada. As one of the fastest-growing alternative financing companies in the transportation...
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October 06, 2022, 07:28 AM
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Houlihan Lokey announced that Burke Smith has joined the firm as a Managing Director in the Business Services Group, bolstering the firm’s sector coverage in transportation and logistics. He is based in Houlihan Lokey’s Los Angeles office.Smith joins...
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September 14, 2022, 07:45 AM
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Wintrust Receivables Finance (WRF) closed a new $4,500,000 account receivable line of credit for a fast growing managed transportation company. The east coast based firm specializes in managing the in-bound and out-bound freight for a number of...
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July 07, 2022, 07:18 AM
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CIT, a division of First Citizens Bank, announced that CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $20 million senior lending facility for Davey Coach Holdings, a portfolio company of Progress Equity...
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February 15, 2022, 08:05 AM
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SEACOR Holdings Inc. entered into a Credit Agreement by and among the Company, as borrower, the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Security Trustee for the Lenders, and JPMorgan Chase Bank...
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March 22, 2019, 08:00 AM
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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...
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January 24, 2019, 07:17 AM
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Encina Business Credit, LLC (EBC) announced that it has provided a $30 million senior secured credit facility to a transportation services company. The financing, which is comprised of a revolving line of credit, will be used to repay existing senior...
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January 08, 2019, 07:06 AM
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Workhorse Group Inc., an American technology company focused on changing the way the world works by providing sustainable and cost-effective electric-mobility solutions to the transportation sector, has closed a financing in the amount of $35 million...
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January 03, 2019, 08:04 AM
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Universal Logistics Holdings, Inc., a provider of customized transportation and logistics solutions, announced that it has closed on a new $350.0 million syndicated credit facility. The credit facility consists of a $150.0 million term loan and a...
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November 29, 2018, 07:54 AM
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Ryder System, Inc., a provider of commercial fleet management, dedicated transportation, and supply chain solutions, announced that it has established a new $1.4 billion five-year global revolving credit facility which will expire on September 27...
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October 05, 2018, 07:21 AM
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NXT Capital announced that it has provided a $47.5 million senior secured credit facility to refinance existing debt and to support GPSTrackit’s add-on acquisition of InTouch GPS. GPSTrackit is a portfolio company of Inverness Graham.
NXT Capital...
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June 29, 2018, 07:06 AM
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Trax Technologies, a global freight audit and payment provider, and Veraction, a provider of transportation spend management and freight audit solutions, announced the merger of the two companies. The combined business will offer customers a single...
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June 26, 2018, 07:26 AM
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Wells Fargo & Company announced its involvement as a lender for MiamiCentral, a first-of-its-kind, transit-oriented development that serves as the southern terminus to the recently-opened Brightline inter-city express passenger train. Wells Fargo...
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June 13, 2018, 08:00 AM
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Hilco Valuation Services announced the appointment of Bryan Courcier to Senior Vice President of its Transportation and Construction Advisory business. This new position has been created to build a market leading valuation and advisory platform in...
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January 08, 2018, 08:00 AM
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MidCap Financial and Ares Commercial Finance announced that they have jointly provided an $80.0 million senior credit facility to a specialized trucking and environmental service provider, Action Enterprise Holdings, LLC d/b/a Action Resources. The...
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December 06, 2017, 07:17 AM
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A&R Logistics Inc., announced that it has successfully renewed its $140 million Senior Secured Facility with significantly improved terms for the Company.The renewed bank facility improves pricing on both the Revolving Credit and Term Loan portions...
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December 05, 2017, 07:23 AM
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Navistar International Corporation announced that it has completed the refinancing of Navistar, Inc.'s existing approximately $1.0 billion senior secured term loan which was due to mature in August 2020 with a new $1.6 billion senior secured term...
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November 07, 2017, 07:25 AM
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Encina Equipment Finance (EEF) and Great Rock Capital jointly announced that they have provided a $33 million senior secured credit facility to Falcon Transport (Falcon). The financing was used to help fund CounterPoint Capital Partners’ acquisition...
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October 05, 2017, 07:17 AM
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Fortress Transportation and Infrastructure Investors LLC entered into the credit agreement with a syndicate of lenders, including JPMorgan Chase Bank, N.A., as administrative agent.
The Credit Agreement provides for revolving loans to be made...
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June 26, 2017, 07:38 AM
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Trucking firm Celadon has reached an agreement in principle with Bank of America, the agent under its current credit facility, for a new $225 million senior secured revolving credit facility. The Proposed ABL Facility will be used to refinance the...
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May 02, 2017, 07:18 AM
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Bibby Financial Services (BFS) North America announced that Daniel Rodrigue has rejoined the company as National Head of Sales for Factoring and Transportation for the U.S. market, a significant step toward executing BFS’s strategic growth...
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April 18, 2017, 08:00 AM
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Cargojet Inc. announced that it had amended its syndicated banking facility to increase its revolving credit facility from $175 million to $200 million. Additionally, a 5-year term loan facility of up to $75 million was added that will be used to...
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April 12, 2017, 07:06 AM
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Santander Bank announced that its Corporate and Commercial Banking division has closed a $10 million senior secured revolving line of credit with OL International, an ocean and airfreight cargo transportation provider.Michael Grande, Senior Vice...
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April 11, 2017, 07:05 AM
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PNC Bank, N.A., a member of The PNC Financial Services Group, announced the closing of an $89 million asset-based facility for Daseke, Inc. Based in Addison, TX, the company is using the funds to merge with Boyd Bros. Transportation, Inc. and Boyd...
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December 04, 2013, 07:28 AM
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Crestmark announced the addition of Scott C. Doyle as Vice President, Account Executive. He will report through Ray Zilke, First Vice President - Portfolio, and will work as a part of Crestmark’s growing Transportation Division located in Franklin...
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September 05, 2013, 07:17 AM
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PNC announced it provided $30 million in a senior secured revolving credit facility for Heniff Transportation Systems. Headquartered in Oak Brook, IL, Heniff Transportation delivers liquid bulk chemicals throughout the continental United States and...
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March 28, 2013, 08:00 AM
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The Winter Trucking Report released from TAB Bank is showing signs of a slow and steady economic recovery according to monthly truck tonnage, fuel costs, perceived business conditions, and invoice size. Historically, trends in trucking and...
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January 31, 2013, 06:59 AM
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