{"id":115351,"date":"2026-10-22T16:23:13","date_gmt":"2026-10-22T20:23:13","guid":{"rendered":"https:\/\/livingstonepartners.com\/?post_type=transaction&p=115351"},"modified":"2026-10-22T16:23:13","modified_gmt":"2026-10-22T20:23:13","slug":"livingstone-carries-out-a-successful-refinancing-for-martin-transportation","status":"publish","type":"transaction","link":"https:\/\/livingstonepartners.com\/nl\/transaction\/livingstone-carries-out-a-successful-refinancing-for-martin-transportation\/","title":{"rendered":"Livingstone Carries Out a Successful Refinancing for Martin Transportation"},"content":{"rendered":"\n

Martin Transportation Systems Inc<\/a>. and Bay Logistics Inc<\/a>., collectively with their respective affiliates (\u201cMTS\u201d or the \u201cCompany\u201d), have been recapitalized by PNC Business Credit.<\/a> Livingstone acted as exclusive financial advisor to MTS. Terms of the deal were not disclosed.<\/strong><\/p>\n\n\n\n

MTS, with 23 terminal and warehouse locations across the U.S. and a fleet of approximately 1,400 tractors and trailers, is the market\u2019s leading provider of transportation and logistics services for the automotive industry. MTS has built long-term business relationships with the \u201cBig Three\u201d and the Company is currently a top carrier for Chrysler, Ford, General Motors and their Lead Logistic Provider (LLP) network.<\/p>\n\n\n\n

The refinancing by PNC Business Credit positions the Company for continued growth, allowing for significantly improved liquidity. Livingstone also advised the Company on a successful refinancing of its real estate portfolio, enhancing the Company\u2019s long-term capital structure and better positioning the Company to execute its strategic plan.<\/p>\n\n\n\n

MTS President and CEO Ric Johnston<\/strong> stated: \u201cWe are pleased to be PNC\u2019s partner going forward and greatly appreciate Livingstone\u2019s leadership on this successful transaction. The transaction likely would not have been possible without their market knowledge and perseverance.\u201d<\/em><\/p>\n\n\n\n

\u201cThe completion of this refinancing with PNC Business Credit positions the company extremely well for future success. The liquidity and flexibility provided by the new capital structure will strengthen MTS\u2019 position as a market leader,\u201d<\/em> said Tom Mills, Livingstone\u2019s Head of Debt Capital Markets<\/strong>.<\/p>\n\n\n\n

The deal closing represents another successful transaction for Livingstone\u2019s Debt Capital Markets Practice. Livingstone\u2019s professionals are currently active on six other debt placement engagements in this increasingly competitive marketplace.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":115343,"template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"client-type":[],"region":[],"sector":[],"service":[],"transaction-type":[],"class_list":["post-115351","transaction","type-transaction","status-publish","has-post-thumbnail","hentry"],"acf":{"team_members":[1046],"date":"20110401","client_type":55,"type":[1087,1099],"region":[366],"services":[429],"sectors":[577,585],"related_transactions":"","related_testimonials":"","contacts":""},"yoast_head":"\nLivingstone Carries Out a Successful Refinancing for Martin Transportation - Livingstone Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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