Daily News: June 5, 2019

Citizens Leads ABL Facility for Burris Logistics

Citizens Commercial Banking led a senior secured asset-based revolving credit facility for Burris Logistics to support its acquisition of Trinity Logistics and for general working capital purposes.

Citizens served as sole lead arranger, bookrunner and administrative agent for the asset-based revolving credit facility.

Founded in 1925 and headquartered in Milford, DE, Burris Logistics provides temperature-controlled warehousing, logistics, consolidation/redistribution and supply chain management services primarily to producers, wholesalers, and retailers of perishable food products.

Trinity Logistics specializes in “asset-light” freight brokerage and supply chain management solutions. The company operates through a network of five regional service centers primarily located throughout the Midwest and its headquarters facility in Seaford, DE, and independent agents that span 27 states with additional agents in Canada and Mexico.

“We have a long relationship with Citizens’ bankers and they were able to execute this transaction quickly to accommodate our acquisition of Trinity Logistics,” said Don McEntaffer, CFO of Burris Logistics. “We also look forward to taking advantage of Citizens’ treasury management solutions.”