BDO Capital Advisors Completes Capital Raise for U.S. Auto
Boston, MA – June 13, 2011 - BDO Capital Advisors, LLC is pleased to announce that it has secured a revolving credit facility for U.S. Auto Sales, Inc. and U.S. Auto Finance, Inc. (collectively “U.S. Auto” or the “Company”). As the exclusive private placement agent to U.S. Auto, BDO Capital prepared a private placement memorandum, identified and contacted a targeted group of potential financing sources and assisted management in structuring and negotiating the transaction.
U.S. Auto operates primarily as a group of Buy-Here, Pay-Here (“BHPH”) auto dealerships in the Atlanta, Georgia metro area. Headquartered in Lawrenceville, Georgia, U.S. Auto operates a flagship dealership in Lawrenceville and nine additional satellite locations throughout the Atlanta metro area. The Company is the largest BHPH dealership in the state of Georgia and is the second largest independent dealership nationally.
The revolving credit facility was provided by a three-bank syndicate.