$2M A/R purchase facility for private equity sponsor

$5,000,000 Accounts Receivable Purchase Facility

Independent Sponsor Acquires Heavy-Haul Transportation Provider

CLIENT

A Maryland-based commercial transportation company that specializes in over-dimensional, over-weight freight and infrastructure transportation.

SITUATION

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.

FINANCIAL SOLUTION

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.

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