Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a $31.7 million senior secured term loan facility with SMG Industries (OTCQB: SMGI). SMGI is a growth-oriented transportation services company focused on the domestic infrastructure logistics market. According to the update, the term loan was used to finance a strategic acquisition and merger of the Barnhart Transportation group of companies, an established logistics service provider for 20 years. Great Rock partnered with a leading commercial banking institution to create a financing structure that will maximize the company’s liquidity. “Great Rock customized a structure that increased liquidity by optimizing the value of our fixed assets to support the acquisition and successful merger of Barnhart,” said Matt Flemming, CEO of SMGI. “We are excited about our new financial partnership and what it entails for the future growth of our platform.”

To view the full press release, visit https://ibn.fm/Mw7bQ

About SMG Industries Inc.

SMG Industries is a growth-oriented transportation services company focused on the domestic infrastructure logistics market. Through several of the company’s wholly owned subsidiaries branded as the “5J Transportation Group,” it offers specialized heavy haul, super heavy haul, flatbed, brokerage, and drilling rig mobilization services. 5J’s engineered permitted jobs can support up to 500-thousand-pound loads including infrastructure cargo associated with bridge beams, wind energy, power generation components, compressors, refinery and construction equipment. SMG Industries is headquartered in Houston, Texas, and has facilities in Floresville, Hempstead, Henderson, Houston, Odessa, Palestine, Victoria, Texas, and Fort Mill, South Carolina. SMG Industries acquired the Barnhart Transportation group of companies on July 7, 2023. The total acquisition consists of Barnhart Transportation, LLC, Barnhart Fleet Maintenance, LLC, Lake Shore Logistics, LLC, Lake Shore Global Solutions, LLC, Legend Equipment Leasing, LLC and Route 20 Tank Wash, LLC, which specializes in a wide range of transportation services, including full truck load, dry bulk, liquids, intermodal, LTL, heavy haul, drayage, transload, and an “asset lite” brokerage business. For more information, visit www.5J-Group.com and www.SMGIndustries.com.

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork