Diversified Transportation Finance has announced their latest client acquisition.
The trucking company hauls for steel plants and is seeing significant growth so was in need of a working capital facility to fuel that growth.
The company has been in business over 20 years and recently had an ownership change. The transaction came to Diversified from an investment banker looking for a good partnership with an industry specific lender. Diversified was able to structure an AR Financing Line to take advantage of their solid accounts receivable and fund their immediate needs to implement a new enterprise and dispatch system, as well as give them a product they could utilize in the future.
The line allows them to manage their cash flow needs based on what is happening in their business. Eric Myers, President of Diversified Transportation Finance, noted, “We look forward to working with this company as they grow, produce jobs, and become an even larger part of the transportation industry and all trucking does to fuel the economy. I was able to spend time with the management team and I am impressed with the operation staying rooted in their family based environment while making changes that will improve their profitability.”