Fourshore Partners bolsters portfolio with Power Funding acquisition
In a significant development, Fourshore Partners has announced its acquisition of Power Funding, a leading factoring company specializing in the oil and gas and transportation industries. This strategic move positions Power Funding, known for providing working capital through invoice purchasing, as a pivotal player in alternative banking solutions.
Power Funding: An Industry Leader in Working Capital Financing
Power Funding has established itself by offering immediate working capital to small and medium-sized businesses in the oil and gas and trucking sectors. The company’s commitment to long-term customer relationships and quick decision-making processes has set it apart in the industry, underpinning its motto “Giving you the Power to Grow.”
A New Era of Growth: Fourshore Partners and Power Funding
Dominique Villarreal, CEO of Power Funding, expressed enthusiasm about partnering with Fourshore, noting the firm’s deep understanding of Power Funding’s business model. Pedro Freyre, Partner at Fourshore, highlighted the rare opportunity to invest in a company at an inflection point, emphasizing the alignment of visions for Power Funding’s future.
Fourshore Partners Announces Acquisition of Power Funding, Strengthening Its Position in Factoring Industry
The Deal: Key Players and Legal Advisors
The transaction was spearheaded by Jose Costa, Pedro Freyre, and Milos Milosevic from Fourshore Partners. Akerman LLP provided legal counsel to Fourshore, while Meadows Collier LLP and Hovde Group advised the seller.
About Power Funding and Fourshore Partners
Founded in 2001, Power Funding LTD has been a leader in cash flow financing, focusing on various industries, including OTR Trucking, Oilfield Trucking and Service, and more. Fourshore Partners, a Miami-based private equity firm, specializes in lower middle market buyouts in the U.S. and Caribbean, now further expanding its portfolio with this acquisition.