Daily News: May 1, 2012

Essex Capital Arranges $1.5MM Recapitalization for RLE Holdings

Essex Capital Group recently arranged $1.5 million in new working capital financing for RLE Holdings, (d/b/a Custom Logistics), a North Carolina-based freight management company.

The funding was provided in the form of an asset-based working capital line of credit from a private specialty finance company, allowing the business to leverage its accounts receivable and finance its ongoing growth.

Essex Capital President, Robert D. Swain, stated, “It has been a pleasure working with the professional management team at Custom Logistics. We were pleased to arrange the company’s required growth capital within 45 days, start to finish, and we’re looking forward to a long term advisory relationship with management, assisting them in financing their continued success.”

Ron Ezell, Jr., president of RLE Holdings, added, “Custom Logistics needed a solution to enable new growth, and Essex offered solutions to fit our capital requirement needs. Essex was the partner we had been looking for to help us move forward in growing a solid, successful business.”

Essex Capital acted as RLE Holdings’ exclusive advisor in this transaction.