Background:
Ascension represents a Private Equity owned leading developer and manufacturer of sustainable, high-performance polymer textile solutions. The company manufactures polymer-coated textiles engineered for a diverse base of end-markets and applications across six key divisions: Healthcare, Containment, Waterproofing, Print Media, Sign & Shade, and Custom Solutions.
Client Objective:
The client had been a long-time owner of their mission critical real estate operation when Ascension reached out with the sale leaseback idea. Ascension pitched the sale leaseback as a creative way to generate accretive capital that could be redeployed into a higher and better use for the operating business. The firm hired Ascension to market a 3-unit portfolio of mission-critical facilities located in South Carolina, Rhode Island, and Ontario, Canada.
Solution:
Ascension’s team ran a competitive marketing process tailored to its network of institutional buyers which generated several offers from both private and public investors. The key was to select a buyer who could close efficiently on both the US and Canada properties. Ultimately, the team successfully closed the transaction with a private sale leaseback fund at a total purchase price of $22 million.
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