Global Merchant Fund Corp., a North American provider of financial solutions for middle-market companies, announced the acquisition of Accutrac Capital Solutions Inc., a transportation factoring company that provides working capital solutions to transportation, freight and logistics companies throughout the US and Canada.

“Our acquisition of Accutrac has significantly strengthened our capacity to provide financial support to the transportation sector,” stated Steve McDonald, Global Merchant President. “Accutrac’s industry-leading customer support model and its outstanding team offer a solid foundation for Global Merchant’s expansion in the transportation factoring industry.”

An eye toward further growth As part of the deal, Global Merchant has committed to inject substantial capital in support of Accutrac’s own acquisition and investment strategy in the transportation factoring sector.

McDonald further stated, “Accutrac’s current leadership and management team will remain in place to guide the company’s expansion as a North American leader in the provision of factoring solutions for the transportation, freight and logistics industry sectors. Global Merchant is growing through partnering with strong company management”.

Strengthening financial solutions for transportation operators  Global Merchant is a proven provider of factoring and asset-based lending solutions across many industries, including energy, telecommunications, manufacturing and distribution. Combining Global Merchant’s diversified experience in alternative financing with Accutrac’s knowledge of factoring support for transportation companies will synergize the companies’ expanding capacity to deliver smart financial solutions. 

Charles Sheppard, President of Accutrac, commented: “Over the past decade, we have built a reputation for delivering fast and efficient cash flow solutions for our customers. With the added knowledge and financial resources of Global Merchant behind us, our ability to identify and deliver solutions to the most complex financial challenges will provide a significant benefit to our customers.”