Siena Lending Group LLC (“Siena”) announced the completion of a three-year $6 million senior secured credit facility for OL International Holdings LLC on November 14, 2014. The facility was used to fund a portion of the acquisition and will be used to support the company’s working capital going forward.
OL International Holdings LLC, based in New York, is an international logistics company providing sophisticated ocean and airfreight forwarding solutions to over 1,000 customers worldwide.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased that we were able to team up with Headhaul Capital Partners and support this acquisition. We’re impressed by the leadership in this business and look forward to working together to help management meet all of their future goals.”
Seth Wilson, Headhaul Capital’s Managing Partner, stated, “We are excited about the acquisition and are looking forward to working with the management team to expand operations and to continue the high level of service our customers have come to expect from OL International. Siena was a great finance partner through the closing and we are happy to be working with them going forward.”
Headhaul Capital Partners LLC is a New York-based middle market private equity firm focused on acquiring and building businesses in the transportation, logistics & distribution industries.
Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $25 million to small- and middle-market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.
Siena’s independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry.