Love’s Travel Stops Acquires 3 Factoring Companies
Truck Stop Operator Inks Deals With TBS Factoring Service, Saint John Capital and Financial Carrier Services
Key Takeaways:
- The deals closed Dec. 19, expanding Love's freight factoring business.
- The three firms, based in Oklahoma City, Chicago and Charlotte, N.C., added about 3,400 customers and primarily serve small- to midsize carriers, Love’s said.
- The purchases build on earlier factoring acquisitions in 2020 and 2024 as Love’s continues to grow its financial services alongside its 669 travel stops in 42 states.
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Truck stop operator Love’s expanded its financial services arm with the acquisition of three factoring companies.
The deals follow earlier factoring acquisitions in July 2020 and July 2024.
Factoring involves a carrier selling its freight invoices to a service provider for more immediate working capital than is typically available while waiting for payment from a shipper or broker.
Love’s Financial acquired TBS Factoring Service, Saint John Capital and Financial Carrier Services in deals that closed Dec. 19.
The latest factoring acquisitions serve small- to midsize carriers. Love’s declined to name the price tag on the deals.
TBS Factoring Service, Saint John Capital and Financial Carrier Services are based in Oklahoma City, Chicago and Charlotte, N.C., respectively.
Between the three entities, Love’s acquired about 3,400 new customers.
“Love’s is committed to growing strategically as a trusted partner to meet professional drivers, owner-operators and fleets where they are, and providing fast and reliable freight factoring services is an important part of that vision,” said Shane Wharton, Love’s president. “We’re excited to welcome our new customers and Love’s Financial team members while learning from their factoring experience.”
New customers will also gain access to fuel discounts and access to a no-fee credit line via the Love’s Express card program, it said. Customers may also qualify for discounts at Love’s Truck Care locations.
Love’s Financial offers freight factoring, radio frequency identification cardless fueling, a credit card and one-stop billing for fuel, tires and preventive maintenance.
The company’s core business is 669 travel stops and convenience stores across 42 states.
Previously, Love’s Financial acquired the U.S. transportation factoring portfolio of Rev Capital in July 2024. The Rev deal added more than 500 new customers.
In July 2020, Love’s Financial bought two factoring companies for an undisclosed sum: Vero Business Capital of Memphis, Tenn., and Foley Business Capital of Omaha, Neb.
Love’s ranks No. 28 on the Transport Topics Top 100 list of the largest private carriers in North America.
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