Halifax recaps Golden State Overnight

Union Bank provided debt financing in support of the transaction. 

Halifax Partners has recapitalised Golden State Overnight, an overnight delivery service that operates in the Western US.

Halifax tapped Union Bank to provide debt financing for the transaction, a spokesperson told Private Debt Investor. Halifax and company management provided equity financing. The firm declined to provide financial details of the recapitalisation.

“[Golden State] has built a leading overnight delivery enterprise in California and throughout the Western US,” said managing director Brent Williams in a statement. “We look forward to assisting GSO’s stellar management team and employees as they develop new growth opportunities in the fast-growing regional logistics industry.”

Halifax specialises in recapitalisations of mid-market and lower mid-market companies in the US. The firm manages approximately $1 billion, according to its website.