Stonebriar Commercial Finance announced the closing of a $30 million sale and leaseback with an industry leading producer and marketer of agricultural, mining and industrial chemicals. The lease proceeds, based on an in-place and in-continued-use fair market valuation, supported the retirement of prior indebtedness and created incremental liquidity to be used by the lessee for general corporate purposes. This closing represents the third capital commitment by Stonebriar to the lessee.
The leased assets, essential to efficient plant operations and optimal output, comprise a 30,000-ton atmospheric and cryogenic ammonia storage tank system.
Reagan Rorschach, Stonebriar managing director, stated, “We are proud of our track record with this valued client and grateful for its continued trust and confidence. The long-term viability of the leased asset, plant and more broadly – the business, enabled us to execute quickly on a structure that created the liquidity sought by the client.” Ron Linn, Stonebriar investment manager, added, “Consistent with the previous closings, this transaction benefitted from tenured management, meaningful capital investment, strong plant level performance and integral assets critical to continued operational efficiencies.”
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 grows diversified businesses with a focus on Insurance; Credit; Technology; Real Estate; Sports and Media; and Consumer. 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.
For more information contact:
Kyle Parks: (469) 609-8525 Kyle.Parks@StonebriarCF.com
Reagan Rorschach: (469) 609-8523 Reagan.Rorschach@StonebriarCF.com