Ascension Advisory is pleased to announce the successful closing of a portfolio sale leaseback transaction on behalf of Highview Capital and its portfolio company B&R, the largest independent auto recycler in the United States. This transaction involved a portfolio of two mission-critical auto parts salvage yards located in Idaho and New Mexico that B&R was acquiring as add-ons to their existing footprint. The sale leaseback of the two sites provided capital that contributed to the acquisition financing of the M&A transaction.
Client Objective
Highview Capital sought to monetize the two targets' real estate assets to help fund the acquisitions while ensuring continued operations at two key locations that have been integral to their respective businesses for over 20 years. The facilities serve as essential hubs for recycling operations, and the acquisitions help B&R expand their geographic reach and reinforce their market leadership in the auto recycling industry.
Solution
Ascension Advisory ran a targeted sale leaseback process, leveraging its deep network of investors to identify buyers with expertise in these types of specialized assets. The team secured an investor that recognized the strategic value of these locations and the financial strength of the platform, resulting in a highly competitive outcome. B&R signed a new absolute triple-net (NNN) lease, providing long-term stability for the business and offering an attractive low-maintenance investment for the buyer.
Conclusion
This sale leaseback allowed Highview Capital to efficiently deploy its capital as part of its buy and build strategy for B&R, while committing long-term to critical real estate necessary for its operations.
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