Modern Bank’s Commercial & Industrial lending division has provided senior secured credit facilities to support the formation and launch of Envase Technologies (“Envase”) by The Firmament Group (“Firmament”). Firmament combined its prior investments in multiple transportation management system (TMS) platforms over the last two years to form Envase, a provider of cloud-based TMS and mobile applications for intermodal transportation providers, including drayage carriers, third-party logistics companies, intermodal marketing companies, and global freight forwarders.
“We are excited to partner with Envase and The Firmament Group as they continue to accelerate the adoption of software and technology across the intermodal vertical of the supply chain,” said Curt Lueker, Chief Lending Officer and Head of Commercial Markets.
About Modern Bank
Modern Bank provides cash flow based senior debt and unitranche financing to private equity, independent sponsor and entrepreneur backed companies across the lower and middle markets. We have a strong track record of delivering tailored solutions to support buyouts/acquisitions, recapitalizations, refinancing and growth capital to companies across a diverse set of sectors including manufacturing, distribution, business services, logistics, and healthcare services.
Modern Bank works with businesses generating EBITDA of $2+ million with defensible market positions, experienced and committed management teams, and consistent free cash flow.
Modern Bank, N.A. is an FDIC insured Bank and an Equal Housing Lender.