Stonebriar Commercial Finance closed a $50 million sale and leaseback of certain casting furnaces and metal fabrication equipment with an aerospace parts producer of structural castings and engine components. The lease proceeds provide the company with additional liquidity for general corporate purposes as it navigates through recently challenging market conditions. This is the third transaction Stonebriar has completed with the company. Stonebriar has provided more than $75 million in capital to the company since 2017.

“As one of the industry’s leading manufacturers of engine components to the aerospace, defense and industrial gas turbine markets, our client is well positioned to withstand the unprecedented worldwide dislocation of markets,” Michael Gay, senior managing director of the sponsor finance group at Stonebriar Commercial Finance, said. “We value their scale and position within its core markets, as well as the management team and the sponsors’ support of the business.”

“We have confidence in the management team’s ability to execute its operating plan in the current environment and in the essentiality of the leased assets,” Dirk Stock, vice president at Stonebriar Commercial Finance, said.