Boston, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Gordon Brothers, the global advisory, restructuring and investment firm, has provided FoxPoint Trucks, LLC $85 million of capital to support the company’s continued growth.
FoxPoint Trucks is a leading technology-enabled, specialty finance truck leasing company that operates as OTR Leasing. The company will use the funds to refinance existing debt and support the expansion of their truck fleet.
FoxPoint Trucks offers a proprietary technology platform that manages its full-service leasing portfolio of trucking assets. The company’s ability to capitalize on consumer demand while decreasing lease defaults has supported its steady growth, nearly doubling its business in the last 18 months.
“FoxPoint Trucks is one of the largest and fastest growing tech-enabled Class 8 truck leasing and asset management platforms in the country,” said Kyle C. Shonak, Managing Director at Gordon Brothers. “Gordon Brothers is proud to provide capital to support their cutting-edge innovation and rapid growth within the transportation market and international trade.”
“This capital infusion from Gordon Brothers allows us to better provide the opportunity for professional drivers and owner-operators to start or grow their own businesses. This funding will continue to fuel our company’s rapid growth and bring our proven approach and technology to more customers,” said Jeff Dema, Chief Executive Officer at FoxPoint Trucks. “We are thrilled to partner with Gordon Brothers during this transformational time for our company.”
Gordon Brothers leverages its expertise and financial resources to provide transitional capital that helps clients minimize risk and maximize opportunity at all points in the business cycle. The firm works closely with companies, their investors, lenders and advisors to structure customized financing packages to support clients through times of operational transformation.
Additionally, Gordon Brothers lends or invests directly in machinery, equipment, inventory, brands, real estate, receivables and other assets, both together and individually, to provide incremental and complementary solutions to market-leading disposition and appraisal services.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, operations and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with over 30 offices across five continents.
About FoxPoint Trucks, LLC
FoxPoint Trucks, LLC, founded in 2013 and based near Kansas City, Mo., is a leading technology-enabled, specialty finance company that leases Class 8 trucks. The company specializes in truck acquisitions, lease originations, and robust post-origination support and is one of the fastest growing tech-enabled Class 8 truck leasing and asset management platforms in the country. For more information, visit www.foxpointtrucks.com.
