In business for 41 years, Midwest Transit is one the largest bus distributors in the U.S., with operations also located in Illinois, Indiana, Kansas and Mississippi.
BDC Credit Reporter View
The only BDC with exposure to the Company is Fidus Investment (FDUS), which provided some of the financing for the acquisition in June 2017, in both subordinated debt and two warrants into common stock and junior notes. Based on valuations through June 2018, performance has been close to, or slightly below expectations. However, with one of the owners an experienced former Navistar manager, the investment currently seems sound. (Updated October 18, 2018)
IIQ 2017: FDUS provides subordinated debt financing for acquisition and receives warrants into common and junior debt.