Navigation Links
Golub Capital Provides Debt Financing to Support the Acquisition of Network Express, Inc., by Ace Expediters, Inc.
Date:3/30/2009

NEW YORK, March 30 /PRNewswire/ -- Golub Capital today announced that it has provided a $27.5 million senior credit facility and equity to support the acquisition of Network Express, Inc., by Ace Expediters, Inc., a portfolio company of Atlantic Street Capital.

The combination of Ace Expediters, Inc., (which includes Ace Expediters and Express Courier, d/b/a Medifleet) and Network Express, Inc., creates the leading dedicated route logistics provider in the Eastern United States. The company provides time-critical, reliable delivery solutions for its clients that include companies in the retail auto aftermarket, long-term care pharmaceutical and medical testing laboratory end markets.

At Network Express, medical distribution services have expanded over the years to include some of the most sensitive medical deliveries such as delivering to nursing facilities, pharmaceutical wholesalers, and medical laboratories requiring specimen retrieval. In 2003, Network Express was inducted into the prestigious Inc. 500, by Inc. Magazine, as one of the fastest growing privately held companies in America.

"We are very pleased to support Atlantic Capital on growing Ace Expediters' already thriving platform. Ace's business model and financial performance is on point for what we are seeking today," says Golub Capital Senior Managing Director Andy Steuerman. "However, it is still a very challenging time to get a transaction across the finish line. This transaction utilized our knowledge of the logistics industry to complete this deal in a timely manner."

This is Golub Capital's first deal with Atlantic Street Capital.

"We felt comfortable with Golub Capital because they really understood the sector and provided a full solution in a market where very few parties are lending. After working with the Golub team on closing this deal, we are confident that Golub Capital will help us grow the company as we capitalize on opportunities within the logistics industry," says Peter Shabecoff, a partner with Atlantic Street Partners.

Atlantic Street Capital Description:

Atlantic Street Capital Management, headquartered in Stamford, CT, is a special situations private equity fund investing in middle market companies that present challenges to typical investors.

About Golub Capital

Golub Capital provides buy-and-hold products range from $5 million to $75 million and include one-loan financings (through the Firm's proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. Golub Capital also underwrites and syndicates 1st lien loans up to $150 million. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. For more information, please visit www.golubcapital.com.


'/>"/>
SOURCE Golub Capital
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Golub Capital Provides $29.5 Million GOLD Facility in Support of the Recapitalization of ExtruMed
2. ReGear Life Sciences Closes $2.5 Million in Series A Financing Following $1M Investment by Stonewood Capital Management, Inc.
3. Capital BlueCross Reaches Out to Families of Uninsured Children
4. BioRelix and Dalton Medicinal Chemistry Expand and Renew Research Agreement to Capitalize on Riboswitches
5. Elekta Finds New Interest in Leasing Solutions as Hospitals Debate Capital Purchases
6. NASDAQ Panel Grants Extension to DATATRAK for Continued Listing on the NASDAQ Capital Market
7. Abaxis, Inc. to Attend Lazard Capital Markets Medical Technologies Conference
8. Wyclef Jean and Miri Ben-Ari to Lead Phoenix House Tribute to Lisa Ellis of Fireman Capital Partners and Carnival House Recordings
9. InstaMed Announces Osage Partners and Ashby Point Capital Have Joined Existing Investors in $6 Million Growth Equity Financing
10. LeAnn Rimes Shares Her Personal Struggle With Psoriasis in Nations Capital
11. Amgen to Present at the Barclays Capital Global Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson ... Recently, he has implemented orthobiologic procedures as a method for treating his patients. ... the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Those who have ... these feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, as ... Michigan, has released tools for healthy coping following a traumatic event. , Trauma sufferers ...
(Date:6/24/2016)... ... 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out of ... verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... throw rocks at my other children and say he was going to kill them. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... , Belgium , June 24, ... VNRX), today announced the appointment of Dr. ... Directors as a Non-Executive Director, effective June 23, ... Audit, Compensation and Nominations and Governance Committees.  As ... Futcher will provide independent expertise and strategic counsel ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
Breaking Medicine Technology: