$5,000,000 Accounts Receivable Purchase Facility
Independent Sponsor Acquires Heavy-Haul Transportation Provider
A Maryland-based commercial transportation company that specializes in over-dimensional, over-weight freight and infrastructure transportation.
The transportation company was negatively affected by excessive debt obligations, which restricted their cash flow to invest in sales and capitalize on growth opportunities. An independent sponsor was seeking acquisition financing to acquire the company with a new ownership group that is experienced, skilled and eager to grow the recapitalized business.
Accord provided a notification recourse accounts receivable purchase facility to finance the independent sponsor’s acquisition of this company. With a reduction in corporate overhead and debt service charges, the company now has sustainable cash flow generation and strong gross margins.