Australian transportation and logistics company Rivet obtained a financing package, including a term loan from Boston-based Gordon Brothers Finance Company and Gordon Brothers, which refinanced existing facilities and facilitated the ownership transfer and expansion of its business. Rivet CEO Mark Rowsthorn acquired ownership of the firm, which has been in the process of restructuring.
“We were pleased to find a solution that allows us to control the business, stabilize operations and grow,” Rowsthorn said. “We look forward to continuing to serve our customers and are grateful to Gordon Brothers Finance Company and Gordon Brothers for the flexibility this financing affords.”
“We were pleased to provide a bespoke capital solution that is supportive of its objectives,” said Tim Stewart, head of Australia for Gordon Brothers. “The underwriting expertise, creative structuring and capital Gordon Brothers Finance Company brings were critical in closing this deal.”
“Partnering with Gordon Brothers in Australia provided the on-the-ground asset expertise we needed to customize a structure that met the company’s needs,” stated Gene Martin, CEO of Gordon Brothers Finance Company.
“Rivet is very well-respected in the industry and we are happy to help support its restructuring and growth,” said Lawrence Klaff, senior managing director at Gordon Brothers Finance Company. “We look forward to supporting Rivet’s success.”
Rivet serves customers in the energy and mining sectors and offers specialist workshops in key metropolitan locations throughout Australia.