Bibby Financial Services Acquires Atlanta-Based FreightCheck

Bibby Financial Services said today it completed the acquisition of FreightCheck, an Atlanta-based freight bill factoring company that in 2009 serviced more than 700 trucking clients located throughout the U.S.

"FreightCheck has an excellent reputation for servicing the small trucking sector and we are very excited to bring the entire FreightCheck team to be part of our company,” Bibby Financial Services CEO Stewart Chesters said. "Coupled with our Nashville-based Bibby Transportation Finance business, we will have a complete portfolio of products to offer a very large base of trucking clients -- from those who need occasional freight bills funded to those needing up to $5 million in facilities to operate their businesses."

FreightCheck will operate as a standalone division of Bibby Transportation Finance as it continues to provide freight bill financing services to small trucking companies.

"We are impressed with the FreightCheck team and the services they have developed to meet the financing needs of small truckers," said Chesters. "FreightCheck clients will continue to be serviced by the same team, in the same high quality manner. Now they will also have the benefit of the support of Bibby Financial Services and its 202-year-old history."

Jeanie Yu, FreightCheck’s EVP of Operations added, “We are excited to be part of Bibby Financial Services and its focus on providing funding to growing small businesses, which we think will be a win-win for our clients. At the same time,“ Yu said. “Bibby Financial Services will be able to grow its client base in the small and entrepreneurial business sector. We are confident we can enhance greatly what we all do together to support the trucking sector."

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. With offices in 10 North American cities and 27 countries around the world, its product portfolio includes receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, and it is an approved lender for the Export-Import Bank’s working capital guaranty delegated authority program. Bibby Financial Services is a subsidiary of The Bibby Line Group, a 202 year-old privately held company based in the United Kingdom.

For more information on Bibby Financial Services, visit: www.bibbyusa.com, or on Facebook at: www.facebook.com/bibbyfinancialservices.northamerica.

For expert advice on small business, please visit CEO Stewart Chesters’ blog at: http://www.bibbyusa.com/ceoblog