Stonebriar Commercial Finance (“SCF”) has closed an additional $30 million equipment lease facility with its existing customer, an industry-leading food processing company, to support the growth of a new innovative product line. SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June 2020. When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.
The lease facility will include a broad mix of essential-use food processing and packaging equipment that will produce a diverse set of 23 products.
Steve White, Stonebriar Executive Vice President, stated, “We are happy to continue our five-year relationship with this highly successful company. The new production line will be producing a market-changing set of products that will be hitting the retail market soon”.
Harrison Smith, Stonebriar Investment Manager, added, “We are highly confident in our Customer’s ability to grow this product line by leveraging its strong brand and past success disrupting traditional food categories. This investment marks the largest expansion in the brand’s history and SCF is proud to provide creative financing solutions for their critical equipment.”
Stonebriar, an Eldridge Industries’ business based in Plano, TX, is a leading provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles. Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance. To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com.
About Eldridge Industries
Eldridge Industries grows diversified businesses with a focus on Credit and Credit/Real Estate Hybrid; Insurance and Insurance Tech; Real Estate; Sports and Media; Convenient Food; and Technology. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.Eldridge.com.