(October 4, 2007 - Dallas) Total Transportation Services LLC (TTS), announced today it has secured a $20 million accounts receivable line of credit through GE Capital Solutions, Transportation Finance. The agreement, which closed on October 4, 2007, will enable TTS to continue with its aggressive expansion plans.
This significant financing package with GE Capital Solutions, Transportation Finance allows us to maximize flexibility and liquidity to fully support our business plans," said Andy Cole, president and chief executive officer of Total Transportation Services. The agreement not only confirms what TTS has been doing since the company’s inception, but positions us to continue our aggressive growth pattern well into the future.
"Being part of a business that is dedicated to the transportation industry has allowed us to understand very quickly TTS' business model and strategic growth plans," explains Grant Derderian, managing director of Transportation Finance’s asset based lending group. We are very pleased to have them in our portfolio.
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TTS, LLC is one of the fastest growing third-party transportation and logistics providers in the industry. TTS is a national network of independent agents with a focus on delivering superior services supported by the resources of a national company with a global reach. TTS offers best-in-class information systems, extensive carrier relationships, breadth of operational infrastructure and strong financial stability. |