Transamerica News

Richard J. Paine, Sr. is the President of Marine-Finance.Com, a maritime consulting firm specializing in the financing and leasing of commercial marine vessels and other equipment. He can be reached at [email protected] or 516-431-9285. That glimmer on the horizon that you see is the first indication of a return to some normalcy in the marine lending marketplace. But don’t confuse it with a full-fledged sunrise, it is far from that. It is merely a tease, a harbinger of things to come.

Matson Integrated Logistics (MIL) announced that it has completed the asset purchase of TransAmerica Transportation Services, Inc. (TTS), a third party logistics company based in Akron, Ohio. The new MIL business unit will operate initially under the name TransAmerica Transportation Services LLC and will ultimately be renamed Matson Integrated Logistics. The unit will retain virtually all of TTS's current management team. Specializing in truck brokerage services throughout North America, TTS currently moves over 50,000 shipments annually, generating revenues of approximately $45 million during the latest twelve month period. The company offers various brokerage services, including truckload, less-than-truckload, expedited services, and intermodal.

Brunswick Corporation and Transamerica Distribution Finance announced the formation of Brunswick Acceptance Company, LLC (BAC), a joint venture between Brunswick and Transamerica. BAC will offer wholesale financing to the domestic Brunswick Boat Group and Mercury Marine dealer networks. “Over the past 10 years, many financial institutions have gotten into, and out of, marine lending. Our goal is to provide stability and to assure a source of floor plan financing for our dealers over the long term," said Brunswick Chairman and Chief Executive Officer George W. Buckley. "We're extremely pleased to partner with Brunswick in the formation of this new venture and to provide the products and services that we will jointly bring to market," said Steven J.