FGI Provides WeDo Logistics with a $15 Million Facility
“We needed a financing solution to support an acquisition that would complement our existing e-commerce logistics and delivery portfolio. We trusted FGI’s deep lending expertise, particularly in the logistics space, to provide us with the right solution. FGI’s facility provided us with the financing we needed to close the transaction quickly as well as additional working capital.”
Headquartered in Austin, Texas, WeDo Logistics is a holding company with two principal assets: Lone Star Overnight (LSO), a network-based parcel delivery company and Scoobeez, a final mile parcel delivery company. WeDo is owned by Ocelot Capital Management, an Austin-based family office.
WeDo Logistics was interested in acquiring Lone Star Overnight, LLC, a leading regional parcel delivery service in the Southwest, to complement its existing delivery logistics portfolio and support its continued e-commerce growth. WeDo Logistics would benefit from significant cross-selling opportunities via its subsidiary, Scoobeez, leveraging Lone Star Overnight’s footprint in the Southwest region.
Leveraging its deep expertise in the logistics sector, FGI was able to provide a flexible, competitive facility that allowed Scoobeez to close the transaction quickly and efficiently.
FGI successfully provided a $15 million facility, which supported WeDo’s acquisition of Lone Star Overnight and provided additional working capital.