Carousel Capital announced today that it has completed a dividend recapitalization of Pegasus TransTech while increasing the company’s access to capital to support its rapid growth.
Carousel Capital’s initial recapitalization of Pegasus TransTech in 2013 was originally supported by Madison Capital Funding LLC. With this most recent transaction, Babson Capital Management LLC joined Madison to provide greater access to senior debt capital as Pegasus TransTech prepares for its next phase of growth.
Pegasus TransTech is the leading mobile and business process automation provider to the transportation industry in the United States and Canada. Through its TRANSFLO® and TripPak solutions, the company delivers real-time communications to thousands of fleets, brokers and commercial vehicle drivers who represent nearly $40 billion in transported goods each year. The company’s mobile and cloud-based technologies digitize over 400 million shipping documents annually. Organizations throughout the company’s client and partner network look to Pegasus TransTech to increase efficiency, improve cash flow and reduce costs. Headquartered in Tampa, Florida, USA, Pegasus TransTech is setting the pace of innovation in transportation software.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 35 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.