--- title: $11M Sale Leaseback for Operio Group Generated $5.7M Spread description: Ascension orchestrated an $11M sale leaseback for Operio Group, generating a $5.7M spread. Explore the complexities and success of this transaction. image: https://ascensionadvisory.com/hubfs/Operio%20Case%20Study.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?hsLang=en) [Case Study](https://ascensionadvisory.com/ascension-advisory-blog/tag/case-study), [Industrial](https://ascensionadvisory.com/ascension-advisory-blog/tag/industrial), [Healthcare](https://ascensionadvisory.com/ascension-advisory-blog/tag/healthcare), [Notable Transactions](https://ascensionadvisory.com/ascension-advisory-blog/tag/notable-transactions) # $11M Sale Leaseback for Operio Group Generated $5.7M Spread [By \- Nina Valtchanov,](https://ascensionadvisory.com/ascension-advisory-blog/author/nina-valtchanov) Mar 20, 2024 ![Operio Case Study](https://ascensionadvisory.com/hubfs/Operio%20Case%20Study.webp) **Introduction:**  Ascension Advisory is proud to announce the successful completion of a strategic industrial portfolio sale leaseback transaction for Operio Group, a market leader in the nutraceutical manufacturing industry. This case study highlights the complexities of sale leaseback nuances, including working through various title issues and due diligence concerns, to achieve significant net proceeds for the client.  **Client Objective:**  Operio Group had just acquired an add-on to its business, the Elizabeth Companies. As part of its acquisition of the operating company, the Operio Group struck a purchase option for the manufacturing facilities occupied by the company, at an option price of $5.33 million. To help finance the M&A transaction, the Operio Group put in place mezzanine debt. Ascension Advisory approached the Operio Group to structure a transaction by which Operio exercised the purchase option for the real estate, and simultaneously sold the properties for a significantly higher price in a sale leaseback transaction. A sale leaseback transaction would generate substantial net proceeds to fuel future growth initiatives and de-risk the balance sheet. **Solution:**  Leveraging their expertise and industry knowledge, the Ascension Advisory team spearheaded the transaction for Operio Group. The deal team brought in a sophisticated industrial investor, and meticulously structured the transaction to accommodate the simultaneous timing of the option exercise along with the sale leaseback closing, ensuring a seamless process for the client. The team had to work through various title and property diligence concerns which posed challenges during the transaction and involved a number of unrelated third party agreements. However, the Ascension Advisory team adeptly addressed these issues, coming up with win-win solutions for all parties involved. The team implemented various strategies to alleviate concerns for the Operio Group and the sale leaseback investor and facilitate the transaction's path to closing. The buyer was a private industrial investment fund with decades of experience who was capable of understanding and navigating the complexities of the double escrow transaction, along with the property diligence nuances. The buyer’s ability to close alongside the double escrow process streamlined the transaction timeline and ensured a successful outcome for all parties involved.  **Outcome:**  Through the tactical execution of the sale leaseback transaction, the Operio Group generated a spread of nearly $6 million in gross proceeds. This capital provided the company with enhanced financial flexibility and liquidity to pursue future growth opportunities within the nutraceutical industry and to pay down more expensive debt on the balance sheet. Despite the number of complexities to work through, the parties collaborated effectively to a successful closing at a sale price of $11 million.   **Conclusion:**  The $11 million industrial portfolio sale leaseback for Operio Group demonstrates Ascension Advisory's ability to navigate complex transactions and deliver exceptional outcomes for its clients, always putting their clients first. By leveraging their expertise and robust track record of closing complicated deals, the Ascension team successfully addressed a variety of property concerns, due diligence issues, and executed a double escrow transaction to achieve significant spread for Operio Group and an overall wonderful outcome. This case study highlights the value of having a sophisticated, experienced, and loyal advisor in your corner when structuring complicated sale leaseback transactions.  ![Alastair Sanderson, CEO](https://ascensionadvisory.com/hs-fs/hubfs/9%20(2).png?width=500&height=500&name=9%20(2).png) "It was great working with Chelsea and her team. The way that she was able to handle the unique challenges faced in this transaction was impressive. I am confident that we delivered the maximum value for the sellers, the buyers and our operating entity." Alastair Sanderson, CEO ![Operio\_Group\_Logo](https://ascensionadvisory.com/hs-fs/hubfs/Operio_Group_Logo.png?width=125&height=48&name=Operio_Group_Logo.png) ### 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 ![$17.7M Sale Leaseback for an OpenGate Capital Portfolio Company](https://ascensionadvisory.com/hs-fs/hubfs/Confidential.jpg?width=352&name=Confidential.jpg) #### [$17.7M Sale Leaseback for an OpenGate Capital Portfolio Company](https://ascensionadvisory.com/ascension-advisory-blog/17.7m-sale-leaseback-for-an-opengate-capital-portfolio-company?hsLang=en) By [Spencer Freid](https://ascensionadvisory.com/ascension-advisory-blog/author/spencer-freid) 17 February 2026 Ascension Advisory advised OpenGate Capital on the $17.7 million sale leaseback of a 152,256 square... 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[READ MORE](https://ascensionadvisory.com/ascension-advisory-blog/5.7-million-spread-for-operio-group-on-industrial-portfolio-sale-leaseback-and-simultaneous-option-execution) [![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" : "Nina Valtchanov", "url" : "https://ascensionadvisory.com/ascension-advisory-blog/author/nina-valtchanov" }, "dateModified" : "2025-04-22T04:39:25.879Z", "datePublished" : "2024-03-20T16:00:45.000Z", "headline" : "$11M Sale Leaseback for Operio Group Generated $5.7M Spread", "image" : [ "https://ascensionadvisory.com/hubfs/Operio%20Case%20Study.webp" ], "mainEntityOfPage" : { "@id" : "https://ascensionadvisory.com/ascension-advisory-blog/5.7-million-spread-for-operio-group-on-industrial-portfolio-sale-leaseback-and-simultaneous-option-execution", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://ascensionadvisory.com/hubfs/Logos/ascencion_black+green.jpg" }, "name" : "Ascension Advisory RE LLC" } } ```