Ares Commercial Finance provided a $20 million senior secured revolving line of credit to TBL Group.
Proceeds were used to refinance existing debt and fund future growth.
Headquartered in Houston, TBL Group formed through the merger of AFC Transportation and Echo Transportation. The combined company operates more than 250 luxury sedans, executive vans, minibuses, school buses, transit buses, paratransit buses and motor coaches and provides ground transportation in Houston, Dallas and the Southern United States.
TBL is supported by Enhanced Small Business Investment Company, an SBIC fund that specializes in growth capital, recapitalizations, refinancings, acquisition financing, buyout and lower and middle market investments.