Alcentra BDC issues $10m loan for transport acquisition

 The money will go toward helping New York-based Radiant Logistics buy Canadian Wheels Group.   

The Alcentra Capital Corporation has provided a $10 million subordinated secured term loan to Radiant Logistics in support its acquisition of Wheels Group, a large non-asset based third-party logistics provider in Canada.

Radiant is a non-asset based transportation and logistics company that offers domestic and international freight forwarding services and other products, including customs and property brokerage, order fulfillment, inventory management and warehousing. The company is based in Springfield Gardens, New York.

“We are very excited to partner with the Wheels organization, which represents a service line and geographic expansion for both companies,” Bohn Crain, founder and chief executive of Radiant, said in a statement. “Our existing operating partners will now have the opportunity to access a broad range of rail and truck brokerage capabilities in the US and Canada.”

The Alcentra BDC has publicly traded under “ABDC” on the NASDAQ stock exchange since May last year. Its investment activities are managed by the Alcentra Group, a sub-investment grade credit asset manager focused on the US and European markets.

Alcentra Group has about $22 billion under management. The firm is headquartered in London, with additional offices in New York, Boston, Dusseldorf and Singapore. The Bank of New York Mellon bought Alcentra in 2006.