Evans Expected to Increase Momentum With Expanded Credit Facility from PNC Bank

Additional Resources Arrive as Company Expects an Additional 10% Growth in 2023

Evans Transportation Services Inc. today announced it has closed a new credit facility with PNC Bank, N.A. The new larger credit facility will serve as a vehicle for supporting the company's current growth trajectory, which includes a revenue increase from $80 million to $400 million since 2018. Officials said newly expanded resources add support for Evans' scalable growth, while allowing the company to return meaningful value to its client-carriers.

"This new credit facility couldn't come at a better time, as we expect our current business to expand by, at minimum, an additional 10% in 2023," said Evans' CEO Ryan Keepman. "A significant increase to our credit capacity allows us to remain focused on our plans, while investing more into the company and its greatest asset—our employees. By investing in the best possible experience for both our customers and team members, we're setting an industry standard no one else can match. That's what the Evans Experience is all about."

The selection of PNC follows a careful evaluation of banking options, revealing a close match between the financial institution's goals and Evans' operating philosophy, officials said.

"When it comes to selecting a financial partner, it's about more than just financial solidity. There has to be a deeper understanding and connection between business philosophies," said Jason Mansur, president of Evans. "That's what we found with PNC Bank—a strategic financial advisor that understands and wants the same things we want for our customers."

"We are pleased to support Evans' business goals through strategic financial solutions," said Luke Tripodi, senior vice president for PNC Business Credit. "We look forward to continuing to work alongside the company and its leadership team to provide value-added advice and the financial strategies they need to continue their growth objectives."

About Evans Transportation Services Inc.

Evans Transportation Services Inc. is a full-service, third-party provider of custom logistics solutions for North American shippers. Equipped with exclusive carrier contracts, true transparency, and time- and cost-saving optimizations, the company's end-to-end transportation management systems are backed by a dedicated team with decades of experience.

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