SunTx acquires Freedom Truck Finance
SunTx Capital Partners, a Dallas, Texas-based private equity firm that invests in middle market manufacturing, distribution and service companies, has acquired a majority equity interest in Freedom Truck Finance, company officials said.
Also based in Dallas, Freedom is a secondary truck and trailer finance company, specializing in dealer-based financing of class 6, 7 and 8 trucks and trailers. The company was founded by Blake Bozman, Scot Foith, Brad Reeves, David Leventhal and Mike Reeves. Bozman, Foith and Reeves previously created and sold auto lender Drive Financial Services to Santander for $800 million.
Ned N. Fleming, III, founder and managing partner of SunTx Capital Partners, said, “We are excited to acquire a majority interest in Freedom Truck Finance, and look forward to working closely with the company’s founders and management team to accelerate growth in this rapidly expanding industry.’’
Founded in 2013 and now directed by company president David Leventhal, Freedom provides indirect financing and warranty solutions to independent owner-operator truck and trailer companies. The company’s dealer network spans 38 states, with origination sources across the company’s network of more than 900 unique dealers, including corporate level agreements with “two large national dealership networks,’’ the company said.
Further information can be found at http://www.freedomtruckfinance.com.
SunTx Capital Partners is a private equity firm that invests in middle market manufacturing, distribution and service companies.Follow & Contact Tank Transport Trader: