Equipment Leasing and Finance Association - Equiping Business for Success

Stonebriar Commercial Finance Canada closes a $35 million equipment lease

Posted 06/11/2019

Stonebriar Commercial Finance Canada announced the closing of a $35 million equipment lease facility with a joint venture majority owned by an investment grade strategic industrial and a natural resources focused private equity group.  The joint venture operates one of the highest-grade iron ore mines in the world.   The leased assets consist of new power generation equipment and locomotives.  The facility provides for interim fundings as the assets are manufactured and delivered into service, ultimately converting to term leases.

Kyle Parks, Stonebriar’s head of direct originations, stated, “While this client is very much in the early stages of its projected steady state commercial operations, the quality and  long-term viability of its products, infrastructure, end markets, management and sponsorship are undeniable.”  Jonathan Katz, managing director of Stonebriar Commercial Finance Canada, added, “We take great comfort in the substantive capital invested in this project, the industry expertise resident in management and ownership, the essentiality of the leased assets to mine operations, and the time-tested diversity and stability of the client’s customer base.”

About Stonebriar Commercial Finance

Stonebriar’s parent is an Eldridge Industries portfolio company based in Plano, TX, and 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 is a private investment firm specializing in providing both debt and equity capital. Eldridge invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses.  In particular, the firm seeks to build and grow companies 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 Industries please visit www.Eldridge.com

For more information contact:

Kyle Parks: (469) 609-8525 / Kyle.Parks@StonebriarCF.com

Jonathan Katz: (647) 256-1906 / Jonathan.Katz@StonebriarCF.com

Author
Steven Siler
Organization
Stonebriar Commercial Finance
Phone Number
6309154917

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