OTR Solutions Acquires CCT Factoring's Transportation Portfolio
OTR Solutions has acquired CCT Factoring's transportation factoring portfolio, expanding its financial technology and back-office solutions for the logistics sector.
ROSWELL, Ga. – OTR Solutions announced its acquisition of the transportation factoring portfolio from CCT Factoring, a subsidiary of Coeur Capital, Inc. The move is intended to accelerate OTR Solutions' strategy in financial technology and factoring services for the logistics industry.
The acquisition is expected to significantly increase OTR Solutions' customer base and presence within the transportation sector. The company provides financial and back-office solutions designed to support logistics businesses.
Alex Parker, CEO of OTR Solutions, stated that the company aims to grow its market share through technological advancements. He indicated that the goal is to enhance cash flow and operational efficiency for trucking companies.
Financial terms of the deal were not disclosed. The acquisition aligns with OTR Solutions' broader strategy for growth, encompassing both acquisitions and organic expansion.