Siena Lending Group LLC (“Siena”) announces the completion of a $3.75 million asset-based revolving credit and term loan facility for MDT Holdings LLC, the owner of Michael Dusi Logistics (“MDL”). The facility will be used to support the company’s growth and expansion initiatives as well as for general working capital requirements.
MDL, based in Paso Robles, CA, is a niche, third-party logistics firm that provides a broad suite of specialized solutions to the wine and craft beer industry. MDL provides its solutions to a wide group of vineyards, wineries, breweries and distributors through two strategically located, temperature-controlled warehouses with over one-million cases of storage capacity and a diversified, flexible tractor and trailer fleet. Services include harvest-related transport, bulk wine transport, dry van/reefer delivery services, general warehousing and storage, and other value-added logistical services. In March 2018, MDL received a controlling investment from Headhaul Capital Partners LLC (“Headhaul”) and Tattooed Dog II LLC (“Tattooed Dog”), both of which are private equity firms focused on the transportation and logistics industry.
"Working diligently with the management team, we were able to structure a facility that provides MDL with greater financial flexibility and incremental liquidity to support their growth,” stated Scott Elliotto, Director of Siena Lending Group. “We have successfully worked with Headhaul on a previous transaction and we appreciate the opportunity to partner with them again.”
Headhaul is a New York-based middle market private equity firm focused on investing in and building businesses in the transportation, logistics and distribution industries.
Seth Wilson, Headhaul’s Managing Partner, stated, “We are excited to have entered into a financial partnership with Siena. MDL is now well positioned to keep pace with the growing wine industry in California’s Central Coast.”