1060 Capital, LLC advised Auction Credit Enterprises (ACE), a leading specialty finance company, on a second-lien term loan financing with a Midwest-based institutional lender.
Through branch offices located in Texas, Georgia, and Pennsylvania, ACE provides short-term, inventory-secured floorplan loans to qualified independent used vehicle dealers to finance their acquisition of vehicles for subsequent resale to consumers.
The ACE debt capital raise significantly strengthens the Company’s balance sheet and also provides the needed growth capital to open several new branch offices throughout the country. We are excited to have played a role in the exciting Auction Credit growth story.
1060 Capital, LLC acted as exclusive financial advisor to ACE.
