The intermodal freight provider slashed debt by 90% and secured $150 million in new capital from investors including Fortress and Fidelity.
STG Logistics has completed its financial restructuring, reducing total funded debt by approximately 90% and emerging from Chapter 11 protection. The company eliminated over $1 billion in debt and secured $150 million in new capital from investors such as Fortress, Fidelity, and Invesco, which now hold a majority equity stake.
The Dublin, Ohio-based firm entered a pre-packaged Chapter 11 agreement in January. The restructuring process did not disrupt operations or relationships with customers and vendors. STG’s CEO stated the move positions the company to invest in technology and capabilities amid a tightening truckload capacity market.
The timing aligns with a surge in truckload spot rates, driven by regulatory crackdowns on noncompliant drivers. STG’s improved balance sheet may enhance its competitiveness in the intermodal freight sector.