LOS ANGELES, Nov. 28, 2016 /PRNewswire/ -- Great American Capital Partners, LLC (GACP), a wholly owned subsidiary of B. Riley Financial Inc. (NASDAQ: RILY), has entered into an agreement with Unified Logistics Holdings, LLC (Unified) to provide a senior secured term loan to refinance existing debt and provide working capital.
Unified Logistics is a provider of specialized and complex freight services to various business segments. The credit facility will provide the company liquidity to achieve its strategic initiatives in addition to refinancing its debt.
Geoffrey Davis, CEO of Unified Logistics commented: "We are very happy and pleased with the partnership created with Great American Capital Partners. Great American's creativity and collateral focus enabled it to provide a financial solution that will allow our company to achieve its operational objectives."
"The Unified management team is a great example of strong leadership that has guided the business through multiple economic cycles," said Bob Louzan, Managing Director of Great American Capital Partners. "Unified is well positioned for future growth and provides critical services in an industry we know well and we're proud to contribute to the overall performance of the company."
About Unified Logistics Holdings, LLC
Headquartered in Bethesda, MD, Unified Logistics Holdings, LLC was formed in 2008 and provides logistical services for oversized and heavy haul loads. Unified Logistics is comprised of the following business units: Silk Road Transport, Inc. located in Arkport, NY; McTyre Trucking Company, Inc. located in Orlando, FL; and Great Lakes Heavy Haul, Inc. located in Byron Center, MI.
About Great American Capital Partners, LLC
GACP, a division of B. Riley Capital Management, an SEC Registered Investment Advisor and a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), originates and underwrites senior secured loans across a wide array of industries. GACP is dedicated to providing opportunistic and responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC (www.brileyco.com), Great American Group, LLC (www.greatamerican.com), and B. Riley Capital Management, LLC (which also includes B. Riley Asset Management (www.brileyam.com) and B. Riley Wealth Management, (www.brileywealth.com). The Company also makes proprietary investments in other businesses, such as the acquisition of United Online, Inc. (www.untd.com) in July 2016, where B. Riley Financial, Inc. is uniquely positioned to leverage its expertise and assets in order to maximize value.
Great American Capital Partners contact:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/great-american-capital-partners-provides-109-million-senior-secured-credit-facility-to-unified-logistics-holdings-300368751.html
SOURCE Great American Capital Partners, LLC