Fort Capital Partners is pleased to announce that Wholesale Express (“Wholesale Express” or the “Company”), has secured a term loan facility (the “Facility”) from Canadian Imperial Bank of Commerce (“CIBC”). Proceeds of the Facility will be used primarily to support the acquisition of Wholesale Express by a group of investors.
Wholesale Express is a leading digital used-vehicle auction platform providing a marketplace for registered automobile dealers. Acting as an intermediary between buyers and sellers in every trade, Wholesale Express ensures smoother transactions and higher certainty for dealers. The Company’s central role enables it to provide differentiated customer support to clients, by either facilitating transactions or finding counterparties to trade inventory. The platform offers a full suite of features, ancillary services and customer support, minimizing friction and maximizing auction outcomes. Wholesale Express is noted for its integrated digital and customer service offering and fast payment issuance to sellers, and also incorporates delivery transportation with every purchase, making the selling and purchasing of vehicles very efficient for both buyers and sellers.
Fort Capital acted as Credit Advisor to Wholesale Express on securing the Facility.