Stonebriar Commercial Finance announced the closing of a $70 million sale and leaseback with an independent producer of specialty hydrocarbon and fuels products. Consistent with the company’s strategic deleveraging efforts, the lease proceeds supported the retirement of other lessee indebtedness. The transaction closed in less than 50 days.
The leased assets consist of certain fuels terminal, transmission, and distribution equipment.
Alex Palazzolo, Stonebriar Managing Director, stated, “For over a century, our client has executed on a strategy that has created and protected unique, competitive advantages. Along the way and by the sophistication of its various facilities, it has cultivated highly regarded brands and a reputation for reliably producing and delivering high-quality products and services to its end markets. We are thrilled to assist in the continuation of that legacy.”
Harrison Smith, Stonebriar Vice President, added, “Our sale-leaseback structure unlocked hidden value in our client’s fuels terminal asset, providing optionality to manage its near-term debt maturities. We have immense faith in the management team’s vision for the business and in the essentiality of the leased assets.”
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.
About Eldridge: Eldridge invests in businesses across the Insurance, Credit, Technology, Real Estate, Sports, Media, and Consumer landscapes. 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.
For more information contact:
Alex Palazzolo: (469) 609-8499 Alex.Palazzolo@StonebriarCF.com
Kyle Parks: (469) 609-8525 Kyle.Parks@StonebriarCF.com