10/07/2014 Matt Steve, Tecum Capital

FNBCP Invests Mezzanine Debt to Facilitate Management Buyout of Cox Transportation Services

CTS is Eleventh Investment in Our SBIC Fund

F.N.B. Capital Partners, L.P. ("FNBCP") is very excited to announce a transaction with Cox Transportation Services. Inc ("CTS"). CTS was our eleventh investment in our SBIC fund  to date. Our mezzanine debt investment was used to facilitate a Management Buyout for the Ashland, VA based Company. We are extremely excited to help support the growth and new ownership at CTS. Backing Jay Smith and his team allowed for a smooth  transition  of ownership. We expect Jay and the CTS team to capitalize on the increasing trucking demand in the United States through its carrier and logistical broker services. It was also a pleasure in working with Marriott & Co. once again who served as the financial advisor to the management team at CTS. This was the second investment within the past year that we  made in a Company that was advised by Marriott & Co. We are excited about the relationship we've been able to establish with this Richmond, VA based investment bank whose deal team was comprised of Justin Marriott, Bryan Burden and Matt Improta. In addition, Capital One Bank supported the transaction with senior debt. Much like Marriott & Co., this was the second transaction that we partnered with Capital One bank in the past year. The Richmond, VA area has been a great market for us in the early stages of our fund, and we look forward to working with our Richmond partners  in the near future for other investment opportunities.    

CTS specializes in transporting time-sensitive full truckload freight on a local, regional, and national basis for a variety of customers. The Company also provides logistics optimization services and is one of the largest licensed prope1ty brokers in Virginia. For more information on CTS, please visit the Company's website at www.truckingforamerica.com.