In January 2020, Gordon Brothers worked collaboratively with ACFS Port Logistics Pty Ltd to provide a A$26 million asset-backed facility that supported the refinancing of its existing senior corporate debt facilities and funded working capital requirements.

ACFS Port Logistics is the largest privately owned container logistics operator in Australia, moving over 1.2 million twenty-foot equivalent units annually and employing more than 1,200 workers nationally. Founded in 2005, the company has built a strong customer base of large blue-chip importers and exporters and has sites strategically positioned with proximity to all major ports.

The logistics operator needed funding to support the refinancing of its existing lenders but was unable to access traditional financing sources following a challenging period. Since our firm understands the critical importance of speed and certainty of execution for our clients and our deal-oriented culture allows us to act quickly, we structured a unitranche facility with primary security over prime movers, trucks and trailers with an increased debt quantum and amortisation schedule that better aligned with operating cash flows.

The asset-backed facility sat alongside a property bank guarantee facility and an accounts receivable facility, resulting in an optimal financing package that fulfilled funding and operational requirements.