A Michigan-based trucking company has closed its doors and is auctioning off its equipment.
The owners of TransWay, Inc., based in Holland, Michigan, have decided to retire. The owners of TransWay, Inc. are currently working with their employees to help them transition to new jobs within the industry, according to a statement from orbitbid.com.
TransWay, Inc has hired Orbitbid.com to conduct a complete liquidation of their assets in a two-day online auction.
The online auction, facilitated by Orbitbid.com will feature a wide range of over 140 trailers and 55 semi trucks.
Trailers will be auctioned Tuesday, Aug. 6. Tractors will be auctioned Wednesday, Aug. 7.
Bidding begins each day at 8 a.m. Eastern and begins to close at 6 p.m. Eastern.
Registration for bidding and to see the lots that will be sold, can be done here.
Acquisition grows Love’s Financial services business
Love’s Financial las week added 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, according to a statement from the company.
The acquisition closed Friday. Terms of the agreement were not disclosed.
“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 Shane Wharton, Love’s president. “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.”
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, according to the statement from Love’s.
Love’s said its new clients gain access to additional bundled services at its nationwide network of travel stops, including fuel discounts, a no-fee credit line on Love’s Express Billing Program, and access to emergency roadside service, light mechanical services, lube and preventative maintenance at Love’s Truck Care and Speedco.
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