Stonebriar Commercial Finance closed a $22 million sale and leaseback on a new manufacturing plant and associated equipment that has the capacity to produce 100 million pounds of protective coating for the automotive original equipment manufacturer and aftermarket space. This transaction provided the lessee the ability to consolidate its supply chain and build out its production capacity.
“We were pleased to partner with an established entity that serves a vital role in supplying the automotive industry with products essential to the manufacture of the vehicles,” Steve White, executive vice president and senior managing director of capital markets at Stonebriar Commercial Finance, said. “Their sponsor was immensely supportive of this financing, which served to bolster liquidity in order to transition the company to a stronger supply chain environment.”
“Given the customer’s strong history of performance in the OEM and aftermarket space, it gave us great confidence to help fund their growth plans going into the future,” Ron Linn, senior investment manager at Stonebriar Commercial Finance, said.
