--- title: $27 Million Cabinet Manufacturer Sale Leaseback description: Ascension helped a cabinet manufacturer with $27 million through a sale leaseback of their real estate assets, allowing them to reinvest in their business. image: https://ascensionadvisory.com/hubfs/Express%20Kitchen.webp --- [![Ascension](https://ascensionadvisory.com/hubfs/raw_assets/public/ascension/images/logo-wordmark-white-green.png)](https://ascensionadvisory.com/?hsLang=en) Menu - Sale Leasebacks Show Sale Leasebacks submenu - [Sale Leaseback Overview](https://ascensionadvisory.com/sale-leaseback-overview?hsLang=en) - [SLB For Business Owners](https://ascensionadvisory.com/services-business-owners?hsLang=en) - [SLB For Financial Sponsors](https://ascensionadvisory.com/services-private-equity-firms?hsLang=en) - [SLB For Referral Partners](https://ascensionadvisory.com/services-referral-partners?hsLang=en) - [Build to Suit Financing](https://ascensionadvisory.com/build-to-suit-financing?hsLang=en) - [Lease Advisory](https://ascensionadvisory.com/lease-avisory?hsLang=en) - [Notable Transactions](https://ascensionadvisory.com/sale-leaseback-transactions?hsLang=en) - Mergers & Acquisitions Show Mergers & Acquisitions submenu - [Sell Your Business](https://ascensionadvisory.com/sell-your-business?hsLang=en) - [The Seller's Checklist](https://ascensionadvisory.com/the-sellers-checklist?hsLang=en) - [2026 M&A Report](https://ascensionadvisory.com/business-owner-ma-report?hsLang=en) - [The Exit Playbook Course](https://ascensionadvisory.com/the-exit-playbook-course?hsLang=en) - Insights Show Insights submenu - [Ascension Blog](https://ascensionadvisory.com/ascension-advisory-blog) - [Press & Publications](https://ascensionadvisory.com/press-and-publications?hsLang=en) - [2026 Ascension Magazine](https://ascensionadvisory.com/hubfs/Ascension%20Magazine%202026%20(standalone)%20(4).html?hsLang=en) - [SLB and M&A Courses](https://ascensionadvisory.com/ascension-learning?hsLang=en) - [2026 M&A Report](https://ascensionadvisory.com/business-owner-ma-report?hsLang=en) - [Private Equity SLB Report](https://ascensionadvisory.com/private-equity-sale-leaseback-report?hsLang=en) - [Team](https://ascensionadvisory.com/team?hsLang=en) [Contact](https://ascensionadvisory.com/contact-us?hsLang=en) [Case Study](https://ascensionadvisory.com/ascension-advisory-blog/tag/case-study), [Manufacturing](https://ascensionadvisory.com/ascension-advisory-blog/tag/manufacturing), [Retail](https://ascensionadvisory.com/ascension-advisory-blog/tag/retail) # $27 Million Cabinet Manufacturer Sale Leaseback [By \- Chelsea Mandel,](https://ascensionadvisory.com/ascension-advisory-blog/author/chelsea-mandel) Oct 26, 2023 ![Assorted wooden and laminated panels stacked in a workshop or warehouse, showcasing materials for cabinetry, furniture, or interior design projects.](https://ascensionadvisory.com/hubfs/Express%20Kitchen.webp) Background: The Ascension team represents Express Kitchens, a leading kitchen countertop and cabinet manufacturer based in the northeast. The business owner was looking to generate capital from a sale leaseback of his owned real estate assets and use the capital to reinvest into the core operating business and grow its showroom footprint in the region. Client Objective: Ascension analyzed the company’s real estate portfolio and presented a sale leaseback proposal to the business owner. The business owner was interested in this financing strategy as it was more flexible than traditional debt financing, and would not require any financial covenants or personal recourse of the business owner. Additionally, the business owner would not take on any dilutive capital through the sale leaseback or give up any operational control. Solution: Given the mission-critical nature of the properties and Ascension’s robust investor network, the team generated multiple sale leaseback offers for the real estate assets. Ultimately the transaction closed at a price of $27 million with a publicly traded REIT. The sale leaseback was less restrictive when compared to having the mortgage Express Kitchens had prior to doing the transaction. Additionally, the sale leaseback enabled their release from a personal guaranty and restrictive covenants.   ### Let’s Talk   ###### Category - [Journal Article](https://ascensionadvisory.com/ascension-advisory-blog/tag/journal-article) - [Case Study](https://ascensionadvisory.com/ascension-advisory-blog/tag/case-study) - [M&A](https://ascensionadvisory.com/ascension-advisory-blog/tag/ma) - [Private Equity](https://ascensionadvisory.com/ascension-advisory-blog/tag/private-equity) - [Industrial](https://ascensionadvisory.com/ascension-advisory-blog/tag/industrial) - [Manufacturing](https://ascensionadvisory.com/ascension-advisory-blog/tag/manufacturing) - [Automotive](https://ascensionadvisory.com/ascension-advisory-blog/tag/automotive) - [Press Release](https://ascensionadvisory.com/ascension-advisory-blog/tag/press-release) - [Europe](https://ascensionadvisory.com/ascension-advisory-blog/tag/europe) - [Food Distribution](https://ascensionadvisory.com/ascension-advisory-blog/tag/food-distribution) - [Notable Transactions](https://ascensionadvisory.com/ascension-advisory-blog/tag/notable-transactions) - [Retail](https://ascensionadvisory.com/ascension-advisory-blog/tag/retail) - [Car Wash](https://ascensionadvisory.com/ascension-advisory-blog/tag/car-wash) - [Healthcare](https://ascensionadvisory.com/ascension-advisory-blog/tag/healthcare) - [Outdoor Storage](https://ascensionadvisory.com/ascension-advisory-blog/tag/outdoor-storage) - [Cold Storage](https://ascensionadvisory.com/ascension-advisory-blog/tag/cold-storage) - [Quick Service Restaurant](https://ascensionadvisory.com/ascension-advisory-blog/tag/quick-service-restaurant) - [Tax Benefits](https://ascensionadvisory.com/ascension-advisory-blog/tag/tax-benefits) - [Build to Suit](https://ascensionadvisory.com/ascension-advisory-blog/tag/build-to-suit) - [Capital Markets](https://ascensionadvisory.com/ascension-advisory-blog/tag/capital-markets) - [Pharmaceutical](https://ascensionadvisory.com/ascension-advisory-blog/tag/pharmaceutical) - [pharm](https://ascensionadvisory.com/ascension-advisory-blog/tag/pharm) ###### Popular Post - [The Difference Between Tuck-ins, Add-ons, and Platforms in M&A](https://ascensionadvisory.com/ascension-advisory-blog/the-difference-between-tuck-ins-add-ons-and-platforms-in-ma?hsLang=en) - [Why Airlines Use Sale Leasebacks to Unlock Capital and Stay Airborne](https://ascensionadvisory.com/ascension-advisory-blog/why-airlines-use-sale-leasebacks-to-unlock-capital-and-stay-airborne?hsLang=en) - [The Difference Between Platforms and PortCo's in Private Equity](https://ascensionadvisory.com/ascension-advisory-blog/the-difference-between-platforms-and-portcos-in-private-equity?hsLang=en) - [How to Structure a Leveraged Buyout for Maximum Value](https://ascensionadvisory.com/ascension-advisory-blog/how-to-structure-a-leveraged-buyout-for-maximum-value?hsLang=en) - [Case Study: Valeo Foods €88 Million European Sale Leaseback](https://ascensionadvisory.com/ascension-advisory-blog/case-study-valeo-foods-88-million-european-sale-leaseback?hsLang=en) ###### Subscribe ### Leave a Comment ### Similar Blogs ![Sale leaseback arbitrage concept with US dollar bills and financial chart overlay.](https://ascensionadvisory.com/hubfs/Arbitrage%20(1).svg) #### [How Business Owners Unlock Value with Sale Leaseback Arbitrage](https://ascensionadvisory.com/ascension-advisory-blog/how-business-owners-unlock-value-with-sale-leaseback-arbitrage?hsLang=en) By [Doug Carey](https://ascensionadvisory.com/ascension-advisory-blog/author/doug-carey) 5 January 2025 Owner-users of commercial real estate often face the challenge of balancing operational needs with... [READ MORE](https://ascensionadvisory.com/ascension-advisory-blog/27-million-cabinet-manufacturer-sale-leaseback) ![Choosing the Right Sale Leaseback Partner: Price vs Certainty](https://ascensionadvisory.com/hs-fs/hubfs/price%20vs%20certainty.jpg?width=352&name=price%20vs%20certainty.jpg) #### [Choosing the Right Sale Leaseback Partner: Price vs Certainty](https://ascensionadvisory.com/ascension-advisory-blog/choosing-the-right-sale-leaseback-partner-price-vs-certainty?hsLang=en) By [Nina Valtchanov](https://ascensionadvisory.com/ascension-advisory-blog/author/nina-valtchanov) 26 May 2026 As sale leaseback activity continues to increase, companies are often presented with multiple... [READ MORE](https://ascensionadvisory.com/ascension-advisory-blog/27-million-cabinet-manufacturer-sale-leaseback) ![Cold Storage Sale Leaseback](https://ascensionadvisory.com/hs-fs/hubfs/Cold%20Storage.png?width=352&name=Cold%20Storage.png) #### [Cold Storage Sale Leaseback for New Construction Financing](https://ascensionadvisory.com/ascension-advisory-blog/cold-storage-sale-leaseback-for-new-construction-financing?hsLang=en) By [Spencer Freid](https://ascensionadvisory.com/ascension-advisory-blog/author/spencer-freid) 10 February 2023 **Background:** The Ascension Team represents a privately owned manufacturer of packaged meat and... [READ MORE](https://ascensionadvisory.com/ascension-advisory-blog/27-million-cabinet-manufacturer-sale-leaseback) [![Ascension](https://ascensionadvisory.com/hubfs/raw_assets/public/ascension/images/logo-wordmark-white-green.png)](https://ascensionadvisory.com/?hsLang=en) Sale leaseback and M&A advisory for private companies, financial sponsors and family offices. ## Services - [Sale Leaseback Advisory](https://ascensionadvisory.com/sale-leaseback-overview?hsLang=en) - [M&A Solutions](https://ascensionadvisory.com/sell-your-business?hsLang=en) - [Transactions](https://ascensionadvisory.com/sale-leaseback-transactions?hsLang=en) ## Firm - [Team](https://ascensionadvisory.com/team?hsLang=en) - [Insights](https://ascensionadvisory.com/ascension-advisory-blog) - [Contact](https://ascensionadvisory.com/contact-us?hsLang=en) - [LinkedIn](https://www.linkedin.com/company/ascensionadvisory/posts/?viewAsMember=true) ## Offices - New York - London - Toronto - Madrid - Miami - Mexico City - [LinkedIn](https://www.linkedin.com/company/ascension-advisory) © 2026 Ascension Advisory™ - [Privacy Policy](https://ascensionadvisory.com/privacy-policy?hsLang=en) - [Terms & Conditions](https://ascensionadvisory.com/terms-conditions?hsLang=en) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Chelsea Mandel", "url" : "https://ascensionadvisory.com/ascension-advisory-blog/author/chelsea-mandel" }, "dateModified" : "2025-04-23T10:06:40.714Z", "datePublished" : "2023-10-26T19:58:48.000Z", "headline" : "$27 Million Cabinet Manufacturer Sale Leaseback", "image" : [ "https://ascensionadvisory.com/hubfs/Express%20Kitchen.webp" ], "mainEntityOfPage" : { "@id" : "https://ascensionadvisory.com/ascension-advisory-blog/27-million-cabinet-manufacturer-sale-leaseback", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://ascensionadvisory.com/hubfs/Logos/ascencion_black+green.jpg" }, "name" : "Ascension Advisory RE LLC" } } ```