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The Bekins Company Receives $26 Million Senior Secured Facility From Merrill Lynch Capital

June 1, 2004

The Bekins Company, a transportation and distribution services companies, announced on May 27 that it has received a $26 million asset-based credit facility from Merrill Lynch Capital, a commercial finance company and division of Merrill Lynch Business Financial Services, Inc. Merrill Lynch Capital was the sole lender on this transaction.Bekins will use this facility for working capital purposes. Specifically, the funds will be used to finance future acquisitions, support future revenue growth and to expand its STARS project, further improving Bekins' dispatching logistics capabilities and operating efficiencies, with its HomeDirectUSA business segment.
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