Gordon Brothers, a global advisory, restructuring and investment firm, has provided Academy Bus LLC with a $72.5 million credit facility to support the bus company’s business.
The facility will support Academy Bus’ debt refinancing and growth to meet the transit, charter and commuter demand as transportation service returns to pre-pandemic levels.
“After decades of steady growth and profitability, Academy Bus faced significant pandemic-related challenges as transportation demand fell,” says Kyle Shonak, head of lending, North America at Gordon Brothers. “We’re proud to provide working capital to support the largest privately-owned and operated transportation company in North America and new bus growth to accommodate the significant increase in business.”
Gordon Brothers provides both short and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets to provide clients liquidity services beyond its disposition and appraisal services.
Academy Bus was advised by B. Riley Securities and represented by Okin Hollander LLC.