[UPDATE: May 18, 2023]

The Industry and Company

A leading e-commerce platform and consumer products manufacturer that owns assorted hardware, including computer and network equipment, lab equipment, rental equipment, camera equipment, and manufacturing equipment.

The Situation

Following a recent acquisition by a large sponsor, the Company was >6.0x levered prior to the onset of COVID-19. The Company was looking to bolster liquidity by unlocking cash from its asset base.

The Result

Atalaya executed a sale-leaseback transaction of approximately $10 million. The Company used the proceeds of the sale-leaseback to partially pay off an outstanding revolver balance and cover other cash needs.