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Concord Financial Advises Trucking Company on $6.96MM ABL Facility

August 30, 2013, 07:34 AM
Filed Under: Transportation

Concord Financial Advisors announced it served as intermediary on the following transaction:

A transportation and logistics company that provides over the road transportation, logistics, freight management and warehousing solutions to a variety of customers and industries had a credit facility with a bank that was acquired. The facility was not renewed and was struggling to secure new financing. Its conversations with multiple traditional lenders and a variety of finance companies were unsuccessful.  After being introduced to the company, Concord's assessment of the situation was that the company was financeable due to its collateral coverage, recent financial performance and experienced management team. The company subsequently retained Concord to search for and secure new financing.

Concord quickly identified the three most appropriate lenders for the company's credit profile and secures a traditional bank asset-based credit facility for the company including a $1 million Capex line to purchase new M&E and upgrade its fleet of tractors.  
Concord Financial Advisors is a financial intermediary specializing in private placements of senior debt and subordinated debt/mezzanine financing for middle market companies. 

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