$7,250,000 Equipment Leasing Facility
For Transportation & Logistics Company to Purchase Additional Equipment
Headquartered in Montreal, QC this company was founded in 1968 as a courier service with a single car and driver and has since transformed into a leading provider of expedited transportation and logistics services in North America, fulfilling over 80,000 shipments a day from their transportation hubs across Canada and the United States.
When the company’s 2017 capital expenditure plan called for additional day cab trucks, straight trucks and forklift trucks balanced between Canada and the U.S., the management and board chose to look outside of their multi-bank senior loan syndication in an effort to expedite the equipment financing.
In December 2017, CapX Partners (CapX), who recently joined the Accord group of companies, offered the transportation and logistics company four and five-year capital lease structures to meet their liquidity and debt service needs. CapX was able to meet the company’s accelerated funding needs, bumping up the original $5 million request to $7 million in a short time frame after the company decided to go deeper with their “owned asset” strategy.