OnTrac has secured a deal with lenders to boost liquidity for its expansion plans, which includes new debt financing and extended maturities to support growth initiatives. CEO Mike Duffy emphasized the company’s focus on identifying growth opportunities, expanding geographically, and investing in technology to enhance customer experience. Following a merger in 2021, OnTrac has invested over $125 million in growth, but has faced increased operating costs and a decline in package volume. The financing deal aims to strengthen OnTrac’s position in a competitive delivery market.

Source: https://www.supplychaindive.com/news/ontrac-lasership-financing-agreement/733774/