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Dorel Industries Inc. has announced that it has entered into a sale-leaseback transaction for its warehouse and manufacturing facility in Columbus that will bring the company $30 million.
Dorel Juvenile Group Inc., which is a business segment of Dorel Industries, sold the facility, located at 2525 State St., to 2525 State Po Lp for $30 million on Feb. 28, according to public real estate transfer records.
A sale-leaseback is a transaction in which a company sells an asset and then leases it back from the buyer, according to financial analysts. Companies often use leasebacks when they need to free up cash while continuing to use the asset itself for business operations.
Dorel Industries said it will use about $8 million from the sale of the Columbus facility to reduce debt, with the remaining proceeds being used to fund “the company’s ongoing operations.”
The Republic has reached out to Dorel for a comment, but there has been no response.
For the complete story, see Wednesday’s Republic
