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Global Pharmaceutical Services Company Secures $12MM in Financing from Wingspire Equipment Finance

May 23, 2024, 07:15 AM
Filed Under: Pharmaceuticals

Wingspire Equipment Finance announced the completion of a $12 million equipment financing arrangement for a leading pharmaceutical services company. The private equity-backed company, a globally recognized Contract Development and Manufacturing Organization (CDMO), offers integrated end-to-end drug development, manufacturing, and commercial packaging solutions.

The financing arrangement facilitated by Wingspire Equipment Finance was instrumental in the acquisition of drug manufacturing and packaging technology equipment for the CDMO. The financial package, comprised of a capital lease and sale leaseback, was designed to streamline the equipment purchasing process and provide the client with the extra liquidity they needed. A sale-leaseback helped leverage existing equipment recently purchased using cash. The CDMO was able to optimize its cash flow and significantly bolster its liquidity for ongoing operations, ensuring its continued growth trajectory.

"We are delighted to have been able to support our client's critical operations and growth initiatives with our equipment financing commitment," said Jason Alves, Senior Vice President of Private Equity at Wingspire Equipment Finance. "Our ability to provide a much-needed infusion of capital and meet their specific financial objectives highlights our dedication to fostering strong partnerships with our clients."

The rapid response and results delivered to this pharmaceutical services client are a testament to Wingspire Equipment Finance's focus on providing industry-leading companies with flexible and timely equipment finance solutions.

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