TORONTO, June 28, 2019 /PRNewswire-PRWeb/ -- Global Merchant Fund Corp., ("Global Merchant") a specialty finance solution provider, through its subsidiary Accutrac Capital Solution Inc., Global Merchant's transportation factoring platform, is pleased to announce the acquisition of eCapital LLC, a leading transportation factoring company that provides cash flow solutions to transportation, freight and logistics companies throughout the US.
This represents the fourth major corporate acquisition by Global Merchant since early 2017, with more planned. "When we acquired Accutrac, augmenting their capabilities with another leader in the industry was part of the goal. eCapital is the perfect fit" stated Steve McDonald President of Global Merchant. "eCapital offers an exciting opportunity for Accutrac to strengthen and expand our service footprint in the United States" explains Ken Judd, CEO of Accutrac. "With their proven team, operational excellence and leading-edge technology they have the foundation and infrastructure we were looking for to rapidly scale our business." Judd adds, "The acquisition of eCapital is the next logical step in our goal of becoming the premier North American factoring provider for the transportation industry."
"For more than 25 years we have been a market leader in freight factoring, and now we have a financial and strategic partner to help us accelerate growth as we expand our portfolio and customer base." said eCapital CMO, Tracy Groves.
Accutrac's investment in eCapital will help grow the Company's portfolio of clients both organically and through additional acquisitions. The strategic acquisition extends Accutrac's reach into the US market, positioning the combined organization for future growth, innovation and the ability to deliver fast, flexible funding solutions. Together, Accutrac and eCapital offer clients an impressive suite of funding options coupled with world-class customer service.
eCapital's current leadership and management team will remain in place to guide the company's continued expansion. "We are excited to combine forces and put our collective expertise and capital to work to create an exceptional experience for our clients." said Charles Sheppard, President of Accutrac."
Sheppard added "eCapital has earned a superb reputation in the marketplace lead by its visionary technology solutions, impressive management team, and exceptional commitment to service. We are excited to have the opportunity to partner with the entire eCapital organization as we continue to realize our vision."
About Global Merchant
Global Merchant offers alternative financial solutions primary catered towards middle-market companies located in the Unites States, Canada and Mexico through asset-based lending, factoring and supply chain financing. In addition to Global Merchant's direct lending activities, its portfolio companies, Gerber Finance, Inc, Paragon Financial Group, Accutrac Capital Solutions Inc, and eCapital LLC offer alternative financing solutions across a broad set of industries.
About Accutrac
Accutrac is a factoring company dedicated exclusively to the transportation sector. Offering low cost, easy-to manage freight factoring solutions, Accutrac aims to deliver fast, reliable funding to undercapitalized transportation, freight and logistics companies. Established in 2007, Accutrac has rapidly grown its operations across the US, with offices in Paramus NJ, Park City UT, and Fresno and Lathrop CA. Its Canadian clients are served by offices in Toronto and Orillia ON. In addition to its core factoring products, Accutrac's extended suite of services includes a robust fuel discount card program that delivers significant savings and positively impacts customers' bottom lines. For more information, visit http://www.accutraccapital.com
About eCapital
As a knowledge-based, technology-powered payment services provider, eCapital accelerates access to capital, streamlines the flow of information and funds enabling shippers, carriers and logistics service providers to adapt, grow and thrive. eCapital creates financial freedom for its customers by offering fast, reliable payment for invoices, including professional account management and back office support. With more than two decades of financial services expertise focused on serving the transportation industry, eCapital leads through knowledge, innovation and thoughtful problem solving for clients. Based in Las Vegas, Nevada, eCapital is the trusted leader in flexible, customized funding for consistent business growth. For more information about eCapital and its accounts receivable factoring services, visit eCapital.com.
SOURCE Global Merchant Fund Corp.
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