Gibraltar Equipment Finance closed a $1.75 million equipment lease to support an electric utility infrastructure services company. The new capital equipment facility will support the company’s recent geographical footprint expansion.
The company provides repair, remanufacturing, decommissioning, recycling and maintenance services to utilities, municipalities and other electric supply companies. The company sought to fund its expansion without disturbing its senior and mezzanine debt arrangements. While a real estate investor built a new manufacturing facility for the company supported by a long-term lease, Gibraltar Equipment Finance funded all the capital equipment needed to serve the utility customers that will depend on the new operation.
“The flexibility of our capital solutions is exemplified by this transaction, showcasing how we tailor our offerings to our client’s unique equipment needs and fit the financing inside the constraints of their senior credit agreement,” Jeff Pfeffer, president of Gibraltar Equipment Finance, said. “It reaffirms our position as a consultative financing partner, ready to navigate the complexities of a company’s financing profile with a custom solution.”
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