Houlihan Lokey Advises NATF

Houlihan Lokey is pleased to announce that the assets of NATF—including TBS Factoring Service, Saint John Capital, and Financial Carrier Services, three freight factoring providers serving small to midsized trucking fleets—have been acquired by Love’s Travel Stops & Country Stores (Love’s) through its financial platform, Love’s Financial. The transaction closed on December 19, 2025.

TBS Factoring Service, Saint John Capital, and Financial Carrier Services provide nationwide coverage through their strategic hubs in Oklahoma City, Chicago, and Charlotte, serving approximately 3,400 customers.

Headquartered in Oklahoma City and family-owned with nearly 40,000 team members in North America and Europe, Love’s core business is travel stops and convenience stores with 669 locations in 42 states, and offers fuel discounts and access to capital through its financial services platform. Love’s Financial is expanding its suite of offerings to professional drivers, owner-operators, and fleets by enhancing its freight factoring capabilities and scale.

Houlihan Lokey served as the exclusive financial advisor to NATF.

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