$10,000,000 Asset-Based Facility
Acquisition Financing for a Long-Haul Transport Company
Accord provided a $10 M asset-based facility to one of the largest long-haul transport companies in Canada to support the acquisition of a family owned group of transport companies. This acquisition resulted in a substantial fleet growth for our client and increased market penetration in Western Canada. Our client has become an expert in growth by acquisition and can count on us when opportunity knocks.
When an opportunity arose to significantly expand its footprint in Western Canada, our client had to act quickly to raise the financing needed. The company reached out with a specific timeframe in mind for the acquisition, which we were able to meet.
In January, Accord provided an asset-based loan against receivables to the transport company which will convert to conventional bank financing once the acquisition needs are met.