Wingspire Equipment Finance completed a $12 million equipment financing arrangement for a pharmaceutical services company. The private equity-backed company, a contract development and manufacturing organization (CDMO), offers integrated end-to-end drug development, manufacturing and commercial packaging solutions.
The financing arrangement facilitated by Wingspire Equipment Finance was instrumental in the acquisition of drug manufacturing and packaging technology equipment for the CDMO. The financial package, comprised of a capital lease and sale leaseback, was designed to streamline the equipment purchasing process and provide the client with the extra liquidity they needed. A sale-leaseback helped leverage existing equipment recently purchased using cash.
The CDMO was able to optimize its cash flow and significantly bolster its liquidity for ongoing operations, ensuring its continued growth trajectory.
“We are delighted to have been able to support our client’s critical operations and growth initiatives with our equipment financing commitment,” Jason Alves, senior vice president of private equity at Wingspire Equipment Finance, said. “Our ability to provide a much-needed infusion of capital and meet their specific financial objectives highlights our dedication to fostering strong partnerships with our clients.”
