$2,000,000 Accounts Receivable Purchase Facility
Private Equity Sponsor Acquires Medical Courier
Based in Denver, Colorado, this courier company specializes in same-day delivery and handling of medical samples, organs, pharmaceuticals, and other items critical to the healthcare industry. They operate over 300 routes daily with a focus on rural areas throughout the U.S. Their clients include service laboratories, hospitals, pharmacies, blood banks, pharmaceutical manufacturers, and government medical providers.
A private equity sponsor was seeking to acquire this medical courier business. The former owner of the company was looking to sell each of its three divisions, and the private equity sponsor who contacted Accord was in need of acquisition financing in order to complete the purchase.
Despite numerous twists and turns from the seller, Accord was diligent in providing a $2,000,000 bulk recourse accounts receivable purchase facility to the private equity group in order to finance the acquisition.