MB Business Capital acted as sole lender and administrative agent on the funding of an $8.97 million senior credit facility for Premium Transportation Services.
Based in Rancho Dominguez, CA, Premium Transportation Services is one of the largest delivery carriers from the Ports of Los Angeles and Long Beach – two of the busiest seaports in the world. It is a portfolio company of private equity firm Saybrook Corporate Opportunity Funds.
The credit facility was used to refinance senior indebtedness and to fund ongoing working capital needs.
“MB Business Capital is happy to once again provide a first-rate financing solution for our valued key partner, Saybrook Capital, and their portfolio company TTSI,” said Michael Sharkey, president of MB Business Capital.
“The MB Business Capital team was able to quickly understand our complex corporate and capital structures in an evolving industry and provided a capital solution that fit TTSI and Saybrook’s business needs. Not only did MB Business Capital honor the initial deal, but they also showed tremendous flexibility in accommodating issues that came up during the dynamic closing process – which is the sign of a true partner,” added Said Al-Alaoui, Saybrook principal.
