Love’s grows financial services business with factoring acquisition
Published on: Jul 31, 2024
Adds more than 500 freight factoring customers from REV Capital’s U.S. transportation book of business.
Love’s Financial is welcoming hundreds of new financial services customers with the acquisition of the U.S. transportation factoring portfolio of REV Capital. During Love’s Financial’s 10th anniversary year, the deal aligns with Love’s plans to grow its financial services business and offerings.
“During a challenging freight market, this acquisition underscores Love’s commitment to grow strategically as a leader in helping owner operators and fleets of any size grow their business. These new clients can expect the same best-in-class customer service Love’s existing customers have come to expect, with scalable funding to maximize growth and cash flow,” said Shane Wharton, Love’s president.
A photo of trucks fueling at the diesel bays with a Love's Financial logo on it
Through the acquisition process, the more than 500 customers in REV Capital’s U.S. transportation factoring portfolio transitioning to Love’s Financial will not experience any disruptions or delays in funding.
“It was important that if we were to strategically exit a market, our impacted client base would be met with the same customer centric ethos. This is why we chose to engage with Love’s Financial,” said Loren Shifrin, founder and CEO of REV Capital.
REV Capital are experts in managing cash flow for a diverse range of clients. With a shared value in service excellence, Love’s was a confident fit for the transition of REV’s U.S. transportation portfolio.
