Plano, TX – November 24, 2020 – Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced today it has funded YTD and is currently projected to fund through 2021, with more than $355 million secured by Jones Act-compliant marine vessels, including tugs, barges, tankers, and container ships.
Stonebriar stands ready to provide innovative capital solutions to U.S. maritime operators even when other lenders may be unwilling to lend in the current market. Stonebriar’s customers include industry leading maritime companies operating in a broad range of end-markets transporting commodities from petroleum products to consumer package goods.
“Maritime transportation has been a very attractive space for us,” said Mark Gibson, Vice President of Capital Markets at Stonebriar. “Recent safety and emissions regulatory changes for vessels operating in the inland river markets have resulted in a significant number of new long-lived assets coming online for operation in various industries within the Jones Act guidelines.”
“Our team has been very diligent in Stonebriar’s pursuit of well-structured transactions for long lived assets that hold their value over time,” said Steve White, Executive Vice President and Senior Managing Director of Capital Markets at Stonebriar. “We believe the Jones Act maritime market will strengthen as demand for petroleum products recovers to pre-pandemic levels, a significant number of the aging U.S. fleet are due for scrap, and very few new large capacity vessel deliveries are scheduled through 2023 due to limited shipyard construction capacity; all contributing to the right sizing of capacity in the market.”
About Stonebriar Commercial Finance
Stonebriar, an Eldridge 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.
Eldridge grows diversified businesses with a focus on Insurance, Credit, Technology, Real Estate, Sports and Media, and Consumer. 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.
Executive Vice President, Sr. Managing Director – Capital Markets
Vice President – Capital Markets
Assistant Vice President – Capital Markets