Love’s Acquires New Factoring Portfolio

Retailer will gain more than 500 U.S. freight factoring customers through REV Capital.

July 30, 2024

Love’s Travel Stops Financial Services has acquired the transportation factoring portfolio of REV Capital. The deal aims to expand Love’s financial services offerings.

Over 500 U.S. customers will be shifted from REV Capital’s factoring portfolio to Love’s Financial. Those customers should not experience any delays in funding, according to Love’s.

“During a challenging freight market, this acquisition underscores Love’s commitment to grow strategically as a leader in helping owner operators and fleets of any size grow their business,” said Shane Wharton, Love’s president. “These new clients can expect the same best-in-class customer service Love’s existing customers have come to expect, with scalable funding to maximize growth and cash flow.”

Clients of Love’s Financial can access a variety of services at Love’s travel stops including fuel discounts, a no-fee credit line on Love’s Express Billing Program, and access to its emergency roadside service, light mechanical services, lube and preventative maintenance services at both Love’s Truck Care and Speedco.

“It was important that if we were to strategically exit a market, our impacted client base would be met with the same customer centric ethos. This is why we chose to engage with Love’s Financial,” said Loren Shifrin, founder and CEO of REV Capital.

Love’s is also currently working on updating its current locations. Under its remodel initiative, Love’s is investing more than $1 billion in remodeling efforts. These locations remain open during the process and receive updates to amenities and services based on foot traffic, sales and the store’s age. Over the next four years, Love’s plans to update more than 200 locations.

Advertisement
Advertisement