Global Merchant Fund Corp. Acquires Accutrac Capital Solutions Inc.
Financial support for transportation companies just got stronger. Global Merchant Fund Corp., a proven provider of factoring and asset-based lending solutions to middle-market companies, acquires Accutrac Capital, a factoring company dedicated exclusively to the transportation sector.
TORONTO, March 8, 2019 /PRNewswire-PRWeb/ -- Global Merchant Fund Corp., a leading North American provider of financial solutions for middle-market companies, announced the acquisition of Accutrac Capital Solutions Inc., a leading transportation factoring company that provides working capital solutions to transportation, freight and logistics companies throughout the US and Canada.
"Our acquisition of Accutrac has significantly strengthened our capacity to provide financial support to the transportation sector," stated Steve McDonald, Global Merchant President. "Accutrac's industry-leading customer support model and its outstanding team offer a solid foundation for Global Merchant's expansion in the transportation factoring industry."
An Eye Toward Furhter Growth:
As part of the deal, Global Merchant has committed to inject substantial capital in support of Accutrac's own acquisition and investment strategy in the transportation factoring sector. McDonald further stated, "Accutrac's current leadership and management team will remain in place to guide the company's expansion as a North American leader in the provision of factoring solutions for the transportation, freight and logistics industry sectors. Global Merchant is growing through partnering with strong company management".
Strengthening Financial Solutions for Transportation Operators:
Global Merchant is a proven provider of factoring and asset-based lending solutions across many industries, including energy, telecommunications, manufacturing and distribution. Combining Global Merchant's diversified experience in alternative financing with Accutrac's knowledge of factoring support for transportation companies will synergize the companies' expanding capacity to deliver smart financial solutions. Charles Sheppard, President of Accutrac, commented: "Over the past decade, we have built a reputation for delivering fast and efficient cash flow solutions for our customers. With the added knowledge and financial resources of Global Merchant behind us, our ability to identify and deliver solutions to the most complex financial challenges will provide a significant benefit to our customers."
About Global Merchant
Global Merchant offers alternative financial solutions primarily catered towards middle-market companies located in the United States, Canada and Mexico through asset-based lending, factoring and supply chain financing. Global Merchant portfolio companies include NY based Gerber Finance, which specializes in asset-based lending, and Fort Lauderdale-based Paragon Financial Group, which specializes in small-ticket factoring. Global Merchant is headquartered in Toronto, with additional offices in California, Florida and New York. For more information, visit http://www.globalmerchantfund.com
About Accutrac
Accutrac is a factoring company dedicated exclusively to the transportation sector. Offering low cost, easy-to-manage freight factoring solutions, Accutrac aims to deliver fast, reliable funding to undercapitalized transportation, freight and logistics companies. Established in 2007, Accutrac has rapidly grown its operations across the US, with offices in Paramus NJ, Park City UT, Fresno CA, and Lathrop CA. Its Canadian clients are served by offices in Toronto and Orillia ON. In addition to its core factoring products, Accutrac's extended suite of services includes a robust fuel discount card program that delivers significant savings and positively impacts customers' bottom lines. For more information, visit http://www.accutraccapital.com
For any inquiries please contact: Steve McDonald: Office: 416 240-8404: Email smcdonald(at)globalmerchantfund(dot)com
SOURCE Global Merchant Fund Corp.
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