Dependable Auto Shippers is the largest, privately owned automobile transport company in the United States, regularly transporting more than 100,000 personally owned vehicles per year. DAS uses it fleet of more than 150 trucks and 90 owned and leased terminals to service two principal types of customers: families who are relocating within the United States and individuals who either buy or sell automobiles using the internet. These two business segments comprise approximately 80% of DAS’ revenues. A key element to providing high quality service to these two business segments is DAS’ proprietary information system that tracks their highly complex network that picks up and delivers more than 300 cars per day across the United States.

IBCF II lead the financing comprised of $5.3 million of secured notes (IBCF: $4.0 million) and $0.1 million of convertible preferred stock (IBCF: $0.07 million). The purpose of the financing was to refinance certain existing debt and to provide growth capital.