In May 2020, Gordon Brothers provided a A$8 million asset-based lending facility to Kings Transport to fund the refinancing of its existing debt facility and support its turnaround plan.
Established in 1991, Kings Transport is an Australian owned and operated transport services and logistics provider offering integrated supply chain solutions to Australasian enterprises. The company has a vast network of vehicles and equipment, skilled operators and integrated value-added solutions for safety, technology and customer services.
Led by a new CEO and senior management team, Kings Transport had developed a multi-year transformation strategy and leveraged its strong asset base to access funding. We secured the facility against Kings’ fleet of motorised and non-motorised vehicles and structured an amortisation profile to align with operational cash flows requirements.
Our firm provided an optimal financing package that traditional lenders would not have been able to, demonstrating our support of Kings Transport’s transformation plan. Additionally, we were appointed as exclusive asset management agent to oversee future fleet renewal programs.