C3 Rentals LLC Secures $100 Million Debt Facility to Fuel Expansion and Enhance Trailer Ownership Accessibility

HATTIESBURG, Miss., May 10, 2024 /PRNewswire/ -- C3 Rentals LLC ("C3"), a leader in trailer rental and ownership solutions, has successfully secured a $100 million debt facility funded by WhiteHawk Capital Partners, LP ("WhiteHawk") and arranged by Ankura Capital Advisors. This strategic financial boost is aimed at increasing liquidity and supporting the company's future working capital needs, enabling further expansion across the United States.

C3, known for partnering with trailer dealerships to make trailer ownership accessible to underserved markets, has experienced significant growth and expanded to 47 states. The company provides flexible trailer ownership solutions to a broad base of customers. With this new funding, C3 intends to enhance its technological platform, expand its dealership network, and improve service offerings across its operational states.

"Ankura Capital Advisors has been an exceptional advisor throughout this process and in selecting WhiteHawk as a new capital partner as we position C3 for its next stage of life," said Craig Tatum, CEO of C3 Rentals. "We are looking forward to our partnership with WhiteHawk and all the resources they bring to the table as we build a more sustainable business going forward."

The funding arrangement by Ankura Capital Advisors underscores confidence in C3's business model and its potential to scale operations effectively. "C3 has demonstrated a robust business model with a strong emphasis on community service and innovative financial solutions. It was a pleasure to work with them and WhiteHawk to fuel their growth ambitions even in this challenging lending environment," commented Kathleen Lauster, Senior Managing Director at Ankura Capital Advisors.

About C3 Rentals LLC:
C3 Rentals LLC is a specialty finance company that provides a pathway to trailer ownership for customers in underserved markets through its innovative rent-to-own contracts. With operations across 47 states and partnerships with over 300 dealerships, C3 continues to expand its market presence and strengthen its customer base. For more information, visit www.c3rentals.com. 

About Ankura Capital Advisors:
Ankura Capital Advisors, Member FINRA/SIPC, is a premier financial advisory firm that specializes in providing tailored financing solutions to businesses across various sectors. Known for its strategic insights and industry expertise, Ankura Capital Advisors is committed to helping companies achieve their financial and operational goals. For more information, visit www.ankuracapitaladvisors.com.

About WhiteHawk Capital:
WhiteHawk Capital Partners, LP is a private credit investment manager focused on asset-based financing solutions primarily to middle market private and public companies across a variety of industries. WhiteHawk provides senior secured financings under a variety of structures for purposes of refinancing, recapitalization, growth, acquisition, restructuring, bridge, and DIP/emergence. For more information, visit www.whitehawkcapital.com.

For Ankura Capital Advisors:

• Kathleen Lauster, klauster@ankuracapitaladvisors.com
• Matthew Lapish, mlapish@ankuracapitaladvisors.com

For C3 Rentals: ctatum@c3vllc.com

For WhiteHawk: info@whitehawkcapital.com