Love’s announced Monday that its financial services unit has acquired a freight factoring portfolio from REV Capital. The deal adds more than 500 customers to the Love’s Financial platform.
Financial terms of the transaction were not disclosed. The deal closed on Friday.
“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,” said Love’s President Shane Wharton in a news release.
The acquired customers will not see any interruption in service or funding delays during the transition. Love’s said the new customers will have access to its bundled services, which include fuel discounts, no-fee credit lines, emergency roadside service, preventative maintenance and other light mechanical services.