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Livingstone Partners LLP is regulated by the FSA
website by Hughes Media
Livingstone Partners is an international investment banking organisation,
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Martin Transportation Going Places with Livingstone
April 2011
Martin Transportation Systems Inc. and Bay Logistics Inc., (MTS’), have been recapitalised by PNC Business Credit (‘PNC’). 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.
MTS President and CEO Ric Johnston stated: “We are pleased to be PNC’s partner going forward and greatly appreciate Livingstone’s leadership on this successful transaction. The transaction likely would not have been possible without their market knowledge and perseverance.”
“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 Mills, Head of Debt Capital Markets at Livingstone Chicago.
For further information contact:
Tom Mills
T: + 1 312 670 5922
E: mills@livingstonepartners.com