Transaction Pages

Private investors completed a roll-up transaction involving the acquisition of three trucking companies serving the fracking industry to form 1845 Oilfield Services, together with acquisition financing consisting of a revolving factoring facility, equipment financing, and senior and junior unsecured debt. Scudder Law Firm represented the acquirers and the company in the transactions.

1845 Oilfield Services completed a debt recapitalization by refinancing multiple equipment lease and financing facilities with a senior-secured term loan and convertible debt, along with amendments to and restructuring of existing factoring facility and senior and junior unsecured debt. Scudder Law Firm represented the company in the transaction.

Ag Transportation Holdings LLC closed first and second lien financings and an equity investment to fund the acquisition of Ag Trucking and affiliates. Scudder Law Firm represented Ag Transportation Holdings LLC in the transactions.

Allo Communications LLC is a full-service communications provider offering local and long distance voice services, video, and broadband data services in Nebraska via a state-of-the-art fiber optic network. Scudder Law Firm has represented Allo since its formation in four rounds of private equity financing as the Company has grown and expanded its operations in new markets.

Arnold and LinkAmerica, through their new holding company, closed a revolving credit and term loan facility. Scudder Law Firm represented Arnold and its parent, U.S. Xpress, in the transaction.

Celadon Group, Inc. maintained a revolving cash-flow-based credit facility with aggregate lending commitments of $250 million. Scudder Law Firm represented Celadon in connection with over a dozen amendments to the facility during a two year period, as well as amendments to agreements constituting part of Celadon's nine-figure equipment lease portfolio.

Celadon Group, Inc. obtained $165 million of financing, consisting of a $105 million term loan facility with associated equity warrants and a $60 million asset-based revolving credit facility, to replace its previous cash-flow-based revolving credit facility. Scudder Law Firm served as Celadon’s counsel in sourcing, negotiating, and documenting these transactions.

Central Freight Lines, Inc. closed a $70 million asset-based credit facility and a $40 million accounts receivable securitization facility. Scudder Law Firm served as company counsel.

Central Freight Lines, Inc. closed an amended and restated $25 million senior revolving credit facility. Scudder Law Firm represented an individual holding a $10 million "last-out" participation in the facility and over $12 million of unsecured debt in the transaction.

Central Refrigerated Transportation, Inc. closed $80 million of term loans and a revolving credit facility. Scudder Law Firm represented Central Refrigerated in the transaction.

Comcar Industries, Inc. closed a new $80 million revolving credit and term loan facility, a three-year extension of its $48 million second-lien notes, a $10 million real estate financing, a trailer sale-leaseback, and a new tractor financing package. Scudder Law Firm negotiated the capital structure and represented Comcar in the transaction.

Covenant Transportation Group, Inc. (NYSE: CVTI) secured $285 million of financing to refinance its prior credit facilities and provide future equipment financing. The new financing consists of an $85 million asset-based revolving credit facility and a $200 million secured equipment facility. Scudder Law Firm represented Covenant in connection with these transactions and over $500 million of previous financing to fund the company’s growth.

DeWaay Capital Management, a venture capital fund located in Iowa. Scudder Law Firm has represented DeWaay in convertible note and preferred stock investments.

Heartland Express, Inc. (Nasdaq: HTLD) closed on an unsecured revolving line of credit in the initial amount of $250 million, a portion of which was drawn down to finance part of the purchase price to acquire Gordon Trucking, Inc. Scudder Law Firm served as company counsel in negotiating and documenting the credit facility and the acquisition.

Lynx Network Group, LLC is a Michigan-based provider of wholesale intrastate data services to major wireless and wireline (fiber based) telecommunications carriers. Scudder Law Firm has represented Lynx in two rounds of private equity financing as the Company acquired significant new fiber optic network facilities.

Scudder Law Firm has represented Nebraska Angels, Inc., an angel investing network that makes minority investments in start-up companies in multiple transactions; including investments in Skyvu Pictures Inc. and Scoopeeze, Inc.

Peoplease LLC and its affiliates closed a $10 million Term Loan A and Multi-Draw Term Loan B senior credit facility. Scudder Law Firm represented the company in connection with the initial facility, as well as a subsequent amendment and restatement as part of a dividend recapitalization transaction.

Swift Transportation Company privately placed $500 million of its 10.0% senior second priority secured notes and entered into a new senior secured credit facility consisting of a $1.07 billion term loan and a $400 million revolving credit facility. Scudder Law Firm represented Swift in connection with these transactions.

Swift Corporation closed on a $200 million accounts receivable securitization facility and subsequently closed a $150 million synthetic letter of credit facility. Scudder Law Firm represented Swift in connection with both financings.

Swift Transportation Co., Inc. was taken private by Saint Corporation in a transaction valued at $3.6 billion. The transaction was financed through a combination of new debt consisting of a $300 million revolving credit facility, a $1.72 billion term loan, $835 million of corporate bonds, the assumption of existing debt, and a rollover of the founding family's equity interests. Scudder Law Firm represented Saint Corporation and its owner and founder of Swift Transportation Co., Inc., Jerry Moyes, in connection with the transaction.

USA Truck, Inc. (NYSE: USAK) closed on a $170 million asset-based credit facility, the proceeds of which were used to refinance its then-existing revolving credit facility. Scudder Law Firm represented USA Truck in negotiating and documenting the new senior secured credit facility.

New Mountain Lake Acquisition Company procured $375 million of financing consisting of a $50 million revolving credit facility, a $185 million tranche B term loan, and a $140 million accounts receivable securitization facility to finance its cash tender offer for the shares of then publicly traded U.S. Xpress Enterprises, Inc. New Mountain Lake Acquisition Company was controlled by the founders of U.S. Xpress. Scudder Law Firm represented New Mountain Lake Acquisition Company in the tender offer and the related financing.

U.S. Xpress Enterprises, Inc. closed a $17 million loan secured by its headquarters facility. U.S. Xpress entered into a $100 million revolving credit facility and a $100 million accounts receivable securitization facility. Scudder Law Firm served as company counsel in connection with all of the foregoing transactions.

U.S. Xpress Enterprises, Inc. closed on $410 million of financing consisting of a $135 million revolving credit facility and a $275 million term loan, the proceeds of which were used to refinance its then-existing credit facilities. Scudder Law Firm served as company counsel in negotiating and documenting each of the foregoing transactions.

U.S. Xpress Enterprises, Inc. closed on a $250 million revolving credit facility in a transaction that, together with contemporaneous real estate and equipment financings, refinanced its then‐existing senior credit facility. Scudder Law Firm served as company counsel in negotiating and documenting the revolving credit facility and termination of the then-existing senior credit facility.

Valu-Net LLC is a recently formed communications company in Kansas that will offer local and long distance voice services, video, and broadband data services over its own fiber optic network. Scudder Law Firm represented Valu-Net in its formation and in its private equity financing.

Western Express, Inc. closed on $325 million of financing through the placement of $285 million in 12.5% senior secured notes and the amendment and restatement of its revolving credit facility in the amount of $40 million. Western Express also refinanced its revolving credit facility with a new lender. Scudder Law Firm represented Western Express in connection with each of the financings.

Western Express, Inc. closed on a $75 million senior secured credit facility and $40 million of mezzanine financing, the proceeds of which provided the company with the capital to refinance its existing credit facility and to acquire the then publicly traded Smithway Motor Xpress Corp. through a negotiated merger. Scudder Law Firm negotiated the merger and the $115 million of debt financing.

Western Express, Inc. closed on $308 million of financing consisting of a $126 million revolving credit facility and a $182 million term loan, the proceeds of which were used to retire its then-existing 12.5% senior secured notes. Scudder Law Firm represented Western Express in negotiating and documenting each of the financings and negotiating with the bondholders.