MB Business Capital, a division of MB Financial Bank, N.A., has provided an $8.97 million senior credit facility to Rancho Dominguez, California-based Total Transportation Services Inc, a delivery carrier from the Ports of Los Angeles and Long Beach. TTSI is a portfolio company of Saybrook Corporate Opportunity Funds.
CHICAGO (PRWEB) JANUARY 23, 2019
MB Business Capital, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of an $8,970,000 senior credit facility to Rancho Dominguez, California-based Premium Transportation Services, Inc. d/b/a Total Transportation Services, Inc. (“TTSI” or the “Company”). TTSI is one of the largest delivery carriers from the Ports of Los Angeles and Long Beach – two of the busiest seaports in the world. MB’s credit facility was used to refinance senior indebtedness and to fund ongoing working capital needs.
TTSI is a portfolio company of Los Angeles, CA-based private equity firm Saybrook Corporate Opportunity Funds (“Saybrook”). Saybrook was founded in 1990 and makes investments across several sectors including logistics. Saybrook targets investments in lower middle market companies experiencing operational or financial challenges.
“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,” according to Said Al-Alaoui, Principal of Saybrook.
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $20 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com