Maynbridge Capital secures future for Pride Group Logistics

Strategic lending solution from Vancouver-based firm preserves 300 jobs and enables Canadian family-run business to continue operations

VANCOUVER, BC, Feb. 4, 2025 /CNW/ - Maynbridge Capital, a leader in asset-based lending and transitional financing, today announced the successful completion of a senior secured term loan provided to Pride Group Logistics (PGL), preventing a major liquidation event. This pivotal financing solution has not only preserved PGL's operations but also secured the livelihoods of almost 300 employees across Canada and the US.

Pride Group's founders, brothers Sam and Jas Johal, engaged Maynbridge to assist with the acquisition following two years of significant market headwinds that led to a court-ordered sale. The secured term loan provided by Maynbridge facilitated a successful acquisition bid, enabling the Johals to retain ownership of the business they spent 15 years building.

This success story exemplifies Maynbridge's unique lending philosophy, which centers on collaborating with businesses led by strong management teams during pivotal moments of transformation. With over a decade of experience, Maynbridge has delivered customized financing that has helped more than 100 companies avoid bankruptcy and safeguard thousands of jobs.

"This partnership is a great example of why we built Maynbridge: supporting Canadian businesses when traditional banks have turned their backs," said Dean Shillington, President of Maynbridge Capital. "The Johal family's determination to rebuild and grow Pride Group Logistics aligned perfectly with our approach to transitional lending. We are proud to have played a role in preserving hundreds of jobs and ensuring the continued operation of a key player in North American logistics."

"Maynbridge Capital's involvement was critical to securing this deal and enabling us to preserve the legacy of our family business," said Amal Johan, President of Pride Group Logistics. "Two years of declining customer demand and rising interest rates created immense challenges, but their unique approach gave us the confidence and financial support we needed to navigate this pivotal moment for PGL."

About Maynbridge Capital:
Based in Vancouver, Canada, Maynbridge Capital has built a reputation for providing aggressive, asset-based debt solutions across the risk spectrum. Whether through transitional lending or growth capital financing, Maynbridge empowers businesses to overcome financial challenges, restructure operations, and achieve sustainable growth. For more information, visit www.maynbridgecapital.com.

SOURCE Maynbridge Capital

Media Contact: Alice Kouzmenko, [email protected], 236-889-2735