Martin Transportation Systems Inc. and Bay Logistics Inc., have been recapitalised by PNC Business Credit. Livingstone’s Chicago team acted as exclusive financial advisor to MTS.
MTS, with 23 terminal and warehouse locations across the US and a fleet of approximately 1,400 tractors and trailers, is the market’s leading provider of transportation and logistics services for the automotive industry. The Company is currently a top carrier for Chrysler, Ford, General Motors and their Lead Logistic Provider network.
The refinancing by PNC positions MTS for continued growth. Livingstone also advised the Company on a successful refinancing of its real estate portfolio, enhancing the Company’s long-term capital structure and better positioning the Company to execute its strategic plan.
“The completion of this refinancing positions MTS extremely well for future success. The liquidity and flexibility provided by the new capital structure will strengthen MTS’ position as a market leader,” said Tom Lesch, Director at Livingstone Chicago.