Turned Impossible to Possible
Customized Lease Structure
As a leader in alternative energy systems, this company is leading the pack when it comes to using “green” technologies to develop sustainability in fuel for transportation and chemical bioproducts. In an effort to attract and maintain the best possible employees, they strive to create an unsurpassed work environment. They pride themselves in their honest business practices with not just their customers, but also their shareholders. They believe, first and foremost that respect is the name of the game. As a result, they are attracting national attention in the financial community because of their sustained growth and technological innovation.
Due to the extreme volatility and the depressed price of ethanol following the recession, this renewable energy company had idled their production facility. Prices had rebounded in late 2013 and the customer decided to ramp up production again. Since the facility had been idle, the financial statements were outdated and the customer was seeking commercial terms based on performance. To make matters more difficult, the collateral for the lease was very specialized and the environmental regulatory requirements were strenuous. Onset worked extensively on the project and ultimately was successful in delivering $15M in operating capital on a sale/leaseback transaction. The Onset credit and operations departments were instrumental in completing an otherwise impossible task.
Onset provided professional guidance and integrity throughout a considerable and complex financial transaction. We were more than pleased with their ability to deliver on competitive terms as promised, and on time.