Transportation company Academy Bus secures $72.5m credit facility from Gordon Brothers

The facility will support Academy Bus’ debt refinancing and continued growth.

  • Academy Bus was advised by B. Riley Securities Inc. and represented by Okin Hollander LLC
  • The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets
  • Gordon Brothers was founded in 1903

Gordon Brothers, an advisory, restructuring and investment firm, has provided a $72.5 million credit facility to Academy Bus, a Hoboken, New Jersey-based private carrier and ground transportation company.

The facility will support Academy Bus’ debt refinancing and continued growth to meet the increased transit, charter and commuter demand as transportation service returns to pre-pandemic levels.

“After decades of steady growth and profitability, Academy Bus faced significant pandemic-related challenges as transportation demand fell,” said Kyle C. Shonak, head of lending, North America at Gordon Brothers, in a statement. “We’re proud to provide working capital to support the largest privately-owned and operated transportation company in North America and new bus growth to accommodate the significant increase in business.”

Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.

Academy Bus was advised by B. Riley Securities Inc. and represented by Okin Hollander LLC.

Since 1903, Gordon Brothers conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. The firm is headquartered in Boston, with over 30 offices across five continents.