Stonebriar Commercial Finance closed a $17.5 million sale and leaseback of certain manufacturing and distribution center related equipment for K&N Engineering, a branded automotive air filter and air intake systems manufacturer and a portfolio company of funds managed by Goldman Sachs Asset Management.

The lease proceeds provided K&N Engineering with additional liquidity for general corporate purposes to support its growth and expansion to a new manufacturing facility located outside Dallas.

“As one of the industry’s most widely recognized brands, we are proud to support K&N, as well as continue our success across the private equity community,” Michael Gay, senior managing director of the sponsor finance group at Stonebriar Commercial Finance, said. “We value the significant support from its sponsor, Goldman Sachs, and its vision to further enhance enterprise value.”

“We have immense faith in this management team’s ability to continue K&N’s growth plans, specifically its expansion to the new facility, where our leased assets are a critical component,” Ron Linn, vice president of Stonebriar Commercial Finance, said.

“We’re pleased to complete this important financing for K&N with Stonebriar’s sponsor finance group,” Simon Kubbies, vice president of Goldman Sachs, said. “Stonebriar delivered a unique solution to K&N and we appreciate their expertise in structuring a compelling transaction that will support the company’s future growth.”