Travel Resorts of America (www.travelresorts.com) is pleased to announce the closing of a $20 million Asset Backed Loan (ABL) facility through Quorum Federal Credit Union. The facility will be used to provide working capital to Travel Resorts in support of selling new resort memberships at the company’s nine luxury RV Resorts locations. Travel Resorts is based in Southern Pines, NC.
Scale Finance Managing Director Gerhard Renner, who also serves as Travel Resorts Chief Strategy Officer, advised Travel Resorts on this strategic growth transaction from beginning to end. Terms of the transaction were not disclosed.
Travel Resorts of America is one of the leading companies in the private membership RV resort industry. TRA’s resorts are located within the Eastern United States at scenic locations including the Mohican River in Ohio and the Gettysburg Battlefield Resort adjacent to the Mason-Dixon Line in Pennsylvania. Founded in 1986 with one resort in North Carolina, the Company has grown through progressive acquisitions of new resort locations and currently owns 9 luxury RV resorts with over 16,000 members and growing.
In addition to the Company’s 9 properties, TRA provides its members access to a nationwide network of over 600 resort campgrounds, including 300 affiliated private resorts and over 300 public campgrounds in the United States, Canada, and Mexico.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 130 companies throughout the region.