Tower Partners, a lower-middle market investment bank with a focus on family, founder, and entrepreneurial-led businesses, announced today that it has successfully executed the sale of REV Capital’s U.S. transportation factoring portfolio to the financial services division of Love’s Travel Stops.
REV, long recognized for their expertise in managing cashflow for a wide range of companies in need of working capital, sold their U.S. transportation portfolio to Love’s Financial. For REV, the sale is part of a new market strategy focused on providing leading commercial finance solutions across North America.
“Having worked with the Tower Partners team for years on our U.S. market and buy-side strategy, their insights and process contributed to a valuable outcome for all of REV’s stakeholders, and most importantly, our clients.” said Loren Shifrin, CEO and founder of REV Capital.
“We are pleased with the sale of REV’s U.S. transportation factoring portfolio to Love’s, which assists REV in executing their U.S. market repositioning,” said Raphael Fahrwald, Director of Tower’s Specialty Finance Platform. “The sale enables REV to focus on growth opportunities in high-potential markets.”
Ervin M. Terwilliger, CEO and founder of Tower Partners, said the sale was a perfect match between REV and Love’s.
“We worked closely with REV to determine what buyer would fit best in light of the contemplated strategic shift,” Terwilliger said. “The deal with Love’s allowed for a client centric solution during REV’s U.S. strategy refocus.
Through the acquisition process, more than 500 clients in REV Capital’s U.S. transportation factoring portfolio were transitioned to Love’s Financial without any disruptions or delays in funding.
“These new clients can expect the same best-in-class customer service Love’s existing customers have come to expect, with scalable funding to maximize growth and cash flow,” said Shane Wharton, Love’s president.
REV was represented by the law firm of Barclay Damon LLP, which is based in Syracuse, N.Y. While Love’s was represented by McAfee & Taft, a full-service law firm in Oklahoma, and Levinson Arshonsky Kurtz & Komsky, LLP of Sherman Oaks, CA.
Details of the sales were not disclosed.
About REV Capital
REV Capital is a rapidly growing financial factoring company and asset-based lender with multiple offices across North America. They are leading providers of trustworthy, transparent, and reliable cashflow solutions that provide clients with financial stability and opportunities for growth. For more information, visit www.revinc.com.
About Love’s
Love’s has been fueling customers’ journeys since 1964. Innovation and perseverance continue to lead the way for the family-owned and -operated business headquartered in Oklahoma City with more than 40,000 team members in North America and Europe. The company’s core business is travel stops and convenience stores with 649 locations in 42 states. Love’s continues its commitment to offer products and services that provide value for professional drivers, fleets, four-wheel customers, RVers, alternative fuel and wholesale fuel customers. Giving back to communities Love’s serves and maintaining an inclusive and diverse workplace are hallmarks of the company’s award-winning culture.
About Tower Partners
Tower Partners is the premier private investment bank servicing the lower-middle market through a broad range of expertise from facilitating mergers and acquisitions to strategic advisory, debt placement, and special situations. Since its start in 2008, Tower has completed more than 525 deals and has a broad network of connections that it can reach quickly when deals surface. Tower’s team has completed engagements with more than $15 billion in transaction value.
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