Private real estate investment fund manager AIC Ventures has purchased the 250,000 square foot industrial facility of Grimes, Iowa-based Ryko Solutions, a portfolio company of Trivest Partners. Ryko Solutions is a manufacturer of full spectrum car wash equipment and a car wash service supplier in North America.
AIC Ventures, a private real estate investment fund manager, has purchased the 250,000 square foot industrial facility of Grimes, Iowa-based Ryko Solutions, a portfolio company of Trivest Partners. Ryko Solutions is the industry’s leading manufacturer of full spectrum car wash equipment and a leading car wash service supplier in North America. AIC Ventures closed the transaction and simultaneously entered into a long-term lease of the facility.
“AIC Ventures has completed well over 50 real estate sale leasebacks with private equity firms and their portfolio companies. These firms have used proceeds from sale leaseback transactions to fund everything from company buyouts to refinancing existing portfolio companies. AIC prides ourselves on the relationships that we have built with these firms, and we were pleased to have the opportunity to work with both Trivest Partners and Ryko Solutions,” stated Luis F. Medina, Managing Director of Acquisitions at AIC.
Russ Wilson, Principal of Trivest Partners, stated: “After considering other options, including senior debt, and researching the market, AIC Ventures provided us with the best opportunity to source inexpensive capital for our core business in a straightforward, professional manner. They provided a concrete commitment and completed the transaction with precision focus across multiple departments. We are pleased with the end result of this sale leaseback transaction and the commitment of the team at AIC Ventures.”
About AIC Ventures
AIC Ventures is a leading provider of alternative capital to middle-market companies via real estate sale leaseback transactions. With over $1 billion in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies that need to strengthen their balance sheets, fund growth initiatives including acquisitions, fund succession planning and/or support other strategic initiatives. The company has closed 133 transactions in 29 states.
About Trivest Partners
Trivest Partners, L.P. is a private equity firm focusing on partnering with founder and family-owned businesses. Trivest is the oldest private equity firm in the Southeast U.S., founded in 1981, and is headquartered in Miami, Florida. The firm focuses specifically on investments in the niche manufacturing, consumer products, business services, and franchisor industries.