Global Merchant Fund, a provider of factoring and asset-based lending solutions to middle-market companies, acquired Accutrac Capital, a factoring company dedicated exclusively to the transportation sector.
“Our acquisition of Accutrac has significantly strengthened our capacity to provide financial support to the transportation sector,” said Steve McDonald, Global Merchant president. “Accutrac’s industry-leading customer support model and its outstanding team offer a solid foundation for Global Merchant’s expansion in the transportation factoring industry.”
As part of the deal, Global Merchant committed to inject substantial capital in support of Accutrac’s own acquisition and investment strategy in the transportation factoring sector. McDonald further stated,
“Accutrac’s current leadership and management team will remain in place to guide the company’s expansion as a North American leader in the provision of factoring solutions for the transportation, freight and logistics industry sectors,” added McDonald. “Global Merchant is growing through partnering with strong company management”.
Combining Global Merchant’s diversified experience in alternative financing with Accutrac’s knowledge of factoring support for transportation companies will synergize the companies’ expanding capacity to deliver smart financial solutions.
Charles Sheppard, president of Accutrac, commented, “Over the past decade, we have built a reputation for delivering fast and efficient cash flow solutions for our customers. With the added knowledge and financial resources of Global Merchant behind us, our ability to identify and deliver solutions to the most complex financial challenges will provide a significant benefit to our customers.”