Stonebriar Commercial Finance closed a $15 million lease facility with a producer and marketer of agricultural, mining and industrial chemicals.

The lease proceeds will support the retirement of prior indebtedness and created incremental capital to be used by the lessee for general corporate purposes.

This closing represents the second capital commitment by Stonebriar to the lessee.

The leased assets make up a 14.5 megawatt steam turbine cogeneration system that converts residual steam into electricity to power an essential use and income producing chemical plant.

Reagan Rorschach, Stonebriar managing director, stated, “Our client is benefitting from management led operational improvements and positive market dynamics creating strong tailwinds for the business. The leased cogen facility will drive economic efficiencies in this strategic plant for decades to come.”

Ron Linn, Stonebriar investment manager, added, “This company has over 50 years of experience and expertise producing and marketing critical feedstock chemicals to an impressive list of longstanding customers. We believe in the direction of management, the viability of end markets served, the strategic importance of the subject plant and the role the leased assets play therein.”

Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through five distinct platforms—general equipment, aviation capital, rail leasing, real estate and sponsor finance. Its parent is an Eldridge Industries portfolio company based in Plano, TX, which provides financing solutions for businesses in a wide variety of industries.