$10,000,000 asset-based acquisition finance for logistics company

$10,000,000 ABL Acquisition Financing with Expedited Closing

Trucking & Logistics Company Acquires Transport Company Assets

CLIENT

Family owned and operated since 1978, this truckload carrier and specialized logistics provider helps businesses with North American shipments between Canada, the United States and Mexico.

SITUATION

This transportation and logistics company saw the opportunity for growth when SLH Transport, a wholly owned subsidiary of Sears Canada, was put up for sale following the Sears bankruptcy.

The company’s president had worked with Accord in the past and trusted that they could meet the tight deadline for the acquisition

“I had worked with Accord in the past and knew that if anyone could meet the deadline, it would be them,” said company president, Daniel Goyette.

FINANCIAL SOLUTION

Accord Financial provided a $10,000,000 asset-based lending facility to the company for the acquisition of the trucking assets of SLH Transport Inc. Accord was able to authorize and disburse the loan within three weeks, meeting the short time frame designated by the bankruptcy monitor, allowing the company to complete the acquisition.

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