Background:
Ascension represents a private equity owned operator of 15+ ACE Hardware stores across the Southeastern United States looking to further expand their market foothold through additional acquisitions.
Client Objective:
The Ascension team approached the sponsor with a sale leaseback proposal of the ACE Hardware located in Holly Hill, SC in conjunction with the sponsor's acquisition of the operating company. The sale leaseback certainty of execution was paramount to the transaction, as the deal needed to close concurrent with the acquisition of the operations.
Solution:
Ascension’s team launched their process seeking certainty of execution, a cash close and rapid diligence period. There were various nuances with the transaction and the team navigated through these sensitivities by running an expeditious off-market bidding process via Ascension's proprietary network of buyers. The transaction closed seamlessly within the sponsor’s required timeline and all parties were excited about the outcome.