AIC Ventures Completes Sale Leaseback Financing with FlexSol Packaging Corp.
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AUSTIN, Texas--(Business Wire)-- AIC Ventures announced today that it has completed two sale leaseback transactions with FlexSol Packaging Corporation. The company is a leading designer and manufacturer of flexible packaging and value-added plastic films for use in a wide range of applications within the food and beverage, medical and industrial markets. The transactions included assets in Nashville, Tennessee and Statesville, NC, with facilities encompassing 182,600 square feet of manufacturing and office space. AIC Ventures' real estate fund, NL Ventures VI, through an affiliate, acquired the properties and simultaneously entered into long term absolute net leases with FlexSol. "AIC manages a very well oiled machine," said Dave Schaefer, CFO of FlexSol Packaging. "We closed two separate, complex and time-sensitive transactions within 30 days. They have an extremely professional and efficient team which completes every phase of the closing process with absolutely no surprises. AIC met our value expectations with regard to the real estate and did everything they committed to, and for those reasons, I would highly recommend them to anyone looking for a unique and feasible financing option." David Steinwedell, Managing Acquisitions Partner of AIC Ventures, noted that "FlexSol is a strong company which brings additional diversity to our portfolio. This opportunity allowed us to demonstrate key strengths such as our ability to meet clients' strict timeframes and our flexibility in working with multiple parties, including the company's real estate brokers at CB Richard Ellis. Our firm has complete discretion over our acquisition capital so we can confidently commit to closing deals without the need for appraisals or financing contingencies. We are pleased to have met the tenant company's need for capital." AIC Ventures is a leading provider of capital to middle-market companies. With over $720 million in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies facing limited, short-term or expensive alternatives for capital. The company has closed more than 85 transactions nationwide. Whether sellers need to close quickly, have private equity interests, environmental or other challenges, AIC Ventures can help. For more information, please visit www.AICVentures.com. Those interested in receiving future updates on AIC Ventures via e-mail can register at www.aicventuresmedia.com. AIC Ventures, Austin Dave Robshaw, 512-334-4662 davidrobshaw@aicventures.com or Monica Ghioc, 512-382-8918 monicaghioc@aicventures.com Copyright Business Wire 2008
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