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Stonebriar Commercial Finance Closes $22MM Sale and Leaseback

February 27, 2023, 07:15 AM
Filed Under: Equipment Finance News

Stonebriar Commercial Finance closed a $22 million sale and leaseback on a new manufacturing plant and associated equipment that has the capacity to produce 100-million pounds of protective coating for automotive OEM and aftermarket space. This transaction provided the Lessee the ability to consolidate its supply chain, driving significant savings every year, while also building out the production capacity that establishes them as the market leader.

Steve White, Stonebriar's Executive Vice President and Sr. Managing Director of Capital Markets, stated, "We were pleased to partner with an established entity that serves a vital role in supplying the automotive industry with products essential to the manufacture of the vehicles. Their sponsor was immensely supportive of this financing which served to bolster liquidity in order to transition the company to a stronger supply chain environment."

Ron Linn, Stonebriar's Senior Investment Manager, said, "Given the customer's strong history of performance in the OEM and aftermarket space, it gave us great confidence to help fund their growth plans going into the future."

For more equipment finance industry news, visit Equipment Finance Advisor.

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