Asset-Backed Financing

Long-haul trucking company receives long-term financing

Mesilla Valley Transportation (MVT), headquartered in Las Cruces, New Mexico, provides long-haul trucking transportation of time-sensitive dry goods throughout North America via its fleet of approximately 1,300 tractors and 5,000 dry-van trailers.

Prudential Capital Group first approached MVT to discuss the company’s future financing needs. MVT shared their desire to reduce their number of lenders and simplify their debt structure to get ready for potential acquisitions. Prudential Capital was asked to provide a term loan, secured by tractors and trailers, which were, prior to Prudential Capital’s transaction, part of the revolver’s borrowing base.

After the initial transaction, Prudential Capital then provided a significant follow-on financing to help simplify the company’s capital structure. In total, Prudential Capital has completed three transactions with MVT since 2012.

Prudential Capital Group’s flexible terms and structure, as well as their knowledge of the transportation industry, made them an ideal partner for MVT. MVT also chose to partner with Prudential Capital for its relationship-focused approach.