Gordon Brothers loans $27M to Carroll Fulmer Logistics
Funding includes equipment sale-leaseback
Gordon Brothers, a global financial services and asset management firm, has provided a $27 million financing package to Carroll Fulmer Logistics to strengthen the Florida-based transportation company’s capital structure and support its growth strategy.
The funding includes a first-lien revolving credit facility and an equipment sale-leaseback, which Carroll Fulmer will use to enhance working capital and implement its forward-looking operational plan, according to a May 15 Gordon Brothers release.
In addition to financing, Gordon Brothers is offering asset advisory services through its affiliate, Nations Capital. The services will help unlock liquidity from the company’s accounts receivable, real estate and equipment, with the goal of optimizing its fleet and delivery systems.
“We are pleased to partner with the Carroll Fulmer team to provide a fully integrated, tailored solution,” Dennis A. Bolton II, senior managing director and head of North America equipment finance at Gordon Brothers, stated in the release. “This approach will improve liquidity, efficiency and delivery performance, creating opportunities for continued investment.”
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