December 14, 2024 - 15:33
Weil has successfully advised American Securities and its portfolio company, LaserShip, Inc., known as OnTrac Final Mile, in a significant financing and exchange transaction. This comprehensive deal involved the establishment of a new senior secured term loan and a revolving facility, aimed at bolstering the company's financial stability.
The transaction also included the extension of debt maturities, providing OnTrac with enhanced liquidity options to navigate the evolving market landscape. These strategic adjustments are expected to strengthen OnTrac's operational capabilities and support its growth initiatives in the competitive final mile delivery sector.
The collaboration between Weil and American Securities reflects a commitment to ensuring robust financial structures that can withstand market fluctuations. As OnTrac continues to expand its services, this financing arrangement is poised to play a crucial role in facilitating its long-term objectives and enhancing service delivery to customers across various regions.
