Fleet Capital Provides $55 Million To Celadon
Fleet Capital Corp., one of the nation's largest asset-based lenders, announced Thursday that it provided a $55 million asset-based credit facility to the Celadon Group Inc.
Fleet Capital Corp., one of the nation's largest asset-based lenders, announced Thursday that it provided a $55 million asset-based credit facility to the Celadon Group Inc.,
a leading provider and arranger of long-haul, time-sensitive truckload transport services.
The facility will be used to finance existing debt and provide for ongoing working capital and letter of credit requirements.
"We've worked very hard to enhance operating performance and customer relationships while pursuing innovative transportation ideas," said Paul Will, Celadon Group chief financial officer. "This credit facility from Fleet Capital will help give us the flexible financing we need to implement our growth strategy, including selective opportunistic acquisitions."
"We're pleased to provide this credit facility to Celadon, a company with an experienced management team and a great franchise," said John Roberts, Fleet Capital senior vice president.
Founded in 1985, Indianapolis-based Celadon says it is one of the 10 largest truckload carriers in the U.S. and the largest transporter of truckload freight between the United States, Canada and Mexico.
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