Stonebriar Commercial Finance announced the closing of a $15 million lease facility with an industry leading producer and marketer of agricultural, mining and industrial chemicals. The lease proceeds supported the retirement of prior indebtedness and created incremental capital to be used by the lessee for general corporate purposes. This closing represents the second capital commitment by Stonebriar to the lessee.
The leased assets make up a 14.5 megawatt steam turbine cogeneration system that converts residual steam into electricity to power an essential use and income producing chemical plant.
Reagan Rorschach, Stonebriar managing director, stated, “Our client is benefitting from management led operational improvements and positive market dynamics creating strong tailwinds for the business. The leased cogen facility will drive economic efficiencies in this strategic plant for decades to come.” Ron Linn, Stonebriar investment manager, added, “This company has over fifty years of experience and expertise producing and marketing critical feedstock chemicals to an impressive list of longstanding customers. We believe in the direction of management, the viability of end markets served, the strategic importance of the subject plant and the role the leased assets play therein.”
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
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