Love’s Financial, a member of the Love’s Family of Companies, has acquired two freight factoring companies: Vero Business Capital of Memphis, Tennessee, and Foley Business Capital of Omaha, Nebraska.
“We’re excited to welcome Vero and Foley and their customers to the Love’s Family of Companies,” said Shane Wharton, president of Love’s. “This transaction aligns with our strategic vision of growing our financial services business.
We look forward to continuing the Vero and Foley commitment to serving their customers with value-added factoring services while combining that commitment with the entire suite of Love’s products and services.”
Love’s is a nationwide network of travel stops with more than 520 locations and 390 truck service centers in 41 states, including Love’s Truck Care and Speedco.
Through its financial services company, Love’s Financial, the company provides recourse and non-recourse freight factoring solutions with any number of added services for customers such as fuel and tire discounts, My Love Rewards points and no fee credit lines on Love’s Express for fuel, tires, maintenance, cash advances and in-store purchases.
Founded in 1964 and headquartered in Oklahoma City, the company remains family-owned and operated and employs more than 26,000 people.