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CG Commercial Completes $4.2MM Tax Lease for Turbine Manufacturer

October 20, 2014, 06:43 AM

CG Commercial Finance (CGCF) announced that it has completed a lease in the amount of $4,190,000 for CNC machine tools and production equipment. The lessee is a 65 year old family run business that utilizes the equipment to manufacture complex fabricated parts for aerospace and land-based gas turbine components.  The equipment will be located in the company’s new expanded facility to meet increased global demand.

Management chose CGCF based on the payment, structure, and the longer term that CGCF offered.  "CG successfully worked with us in understanding our reviewed financials. In our experience, many lenders and banks shy away from a transaction unless they are financing a company with audited financials," stated the company’s controller.

W. Scott McCullum, President of CG Commercial Finance, commented, "Our client has a robust and growing manufacturing business. While CGCF has typically focused on larger enterprise transactions, we have been expanding our business by adding significant large-ticket transaction expertise to the middle market. This is currently an underserved marketplace and a recent strategic market expansion for CGCF."

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