HATTIESBURG, Miss., May 10, 2024
/PRNewswire/ -- C3 Rentals LLC ("C3"), a leader in trailer rental
and ownership solutions, has successfully secured a $100 million debt facility funded
by WhiteHawk Capital Partners, LP ("WhiteHawk") and arranged
by Ankura Capital Advisors. This strategic financial boost is aimed
at increasing liquidity and supporting the company's future working
capital needs, enabling further expansion across the United States.
C3, known for partnering with trailer dealerships to make
trailer ownership accessible to underserved markets, has
experienced significant growth and expanded to 47 states. The
company provides flexible trailer ownership solutions to a broad
base of customers. With this new funding, C3 intends to enhance its
technological platform, expand its dealership network, and improve
service offerings across its operational states.
"Ankura Capital Advisors has been an exceptional advisor
throughout this process and in selecting WhiteHawk as a new capital
partner as we position C3 for its next stage of life," said
Craig Tatum, CEO of C3 Rentals. "We
are looking forward to our partnership with WhiteHawk and all the
resources they bring to the table as we build a more sustainable
business going forward."
The funding arrangement by Ankura Capital Advisors underscores
confidence in C3's business model and its potential to scale
operations effectively. "C3 has demonstrated a robust business
model with a strong emphasis on community service and innovative
financial solutions. It was a pleasure to work with them and
WhiteHawk to fuel their growth ambitions even in this challenging
lending environment," commented Kathleen
Lauster, Senior Managing Director at Ankura Capital
Advisors.
About C3 Rentals LLC:
C3 Rentals LLC is a specialty
finance company that provides a pathway to trailer ownership for
customers in underserved markets through its innovative rent-to-own
contracts. With operations across 47 states and partnerships with
over 300 dealerships, C3 continues to expand its market presence
and strengthen its customer base. For more information, visit
www.c3rentals.com.
About Ankura Capital Advisors:
Ankura Capital
Advisors, Member FINRA/SIPC, is a premier financial advisory firm
that specializes in providing tailored financing solutions to
businesses across various sectors. Known for its strategic insights
and industry expertise, Ankura Capital Advisors is committed to
helping companies achieve their financial and operational goals.
For more information, visit www.ankuracapitaladvisors.com.
About WhiteHawk Capital:
WhiteHawk Capital Partners,
LP is a private credit investment manager focused on asset-based
financing solutions primarily to middle market private and public
companies across a variety of industries. WhiteHawk provides senior
secured financings under a variety of structures for purposes of
refinancing, recapitalization, growth, acquisition, restructuring,
bridge, and DIP/emergence. For more information, visit
www.whitehawkcapital.com.
For Ankura Capital Advisors:
- Kathleen Lauster,
klauster@ankuracapitaladvisors.com
- Matthew Lapish,
mlapish@ankuracapitaladvisors.com
For C3 Rentals: ctatum@c3vllc.com
For WhiteHawk: info@whitehawkcapital.com
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SOURCE Ankura Capital Advisors