This customer specializes in the global manufacturing of plastic packaging and has been doing business for over half a century. They are committed to constant research and development that provide the insights necessary to dial in their systems and manufacturing processes continually. They serve a wide variety of industries ranging from food and consumer packaging to pharmaceuticals and labels.
With a heavy focus on R&D, the lessee needed to finance equipment that would allow them to further hone their processes. The equipment was mission-critical to the lessee and they wanted to work with someone they knew they could trust. The lessee had worked with us on a large, difficult transaction in the past and trusted us to deliver again. Funding this equipment presented unique challenges due to the fact that the lessee needed to acquire highly specialized manufacturing equipment, we were dealing with the lessee’s international parent company, and the lessee had a high sensitivity to the cost-of-funds. The Onset team leveraged the flexibility of our capital and funding relationships to deliver precisely what the lessee was looking for – the right equipment for the job and a transaction that exceeded their expectations.
Onset was able to deliver on a complex transaction that met the customer's objectives and was a win for both sides. We are pleased to continue funding essential equipment needs for this client and look forward to furthering the relationship.