RICHLAND, Miss.--(BUSINESS WIRE)--Today, Advantage Capital announced a $3.375 million investment in Richland, Mississippi-based Capital City Trucking. This follows an initial investment earlier in 2019, which allowed the freight company to triple its employee base and pursue significant growth opportunities. The latest round of funding will enable Capital City to upgrade its fleet, create additional jobs with high-quality driver benefits and continue to expand within Mississippi and across the country.
“This investment has enabled us to grow at a healthy rate, bring on new business and provide high-quality benefits and pay to our drivers in our local community,” said Trey Waterloo, CEO of Capital City Trucking. “With the initial investment, we grew our employee base from 28 to 84. This next round of capital will allow us to upgrade our fleet with the latest technology and support our rapidly increasing geographic footprint and service capabilities.”
The investment, in connection with the Mississippi Small Business Investment Company Act (MSBIC), will help Capital City grow its operations and bring good-paying jobs to Mississippi.
The Mississippi Small Business Investment Company Act was designed to attract capital investments to qualified small businesses in the state. Since its passing in 2013, this program has brought much-needed investment to Mississippi businesses like Capital City Trucking to promote growth and stimulate local economies.
“We have spoken with many companies throughout Mississippi that are ready for growth but can’t find the financing they need. We are excited to continue our work in Mississippi and are looking to help more companies such as Capital City achieve their growth potential through the MSBIC program,” said Philip Ruppel of Advantage Capital.
About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About Capital City Trucking
Capital City Trucking specializes in the transportation of goods across the United States for large food suppliers. The company has a transportation culture that is second to none by delivering customer's WHY and building careers one mile at a time.
Advantage Capital is an investment adviser registered under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. The information in this release is not intended to be an advertisement concerning investment advisory services or an offer to buy or sell securities of any type. Advantage Capital is an equal opportunity provider.
The investments and portfolio companies referenced in this release represent only a sample of companies that have received investment capital from Advantage Capital-related entities. For a complete list of such companies, please see our website at advantagecap.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results.