Ryko completes sale leaseback of its manufacturing facility
GRIMES, IA ― Yesterday, Ryko Solutions Inc. completed a sale leaseback of its 250,000-square-foot manufacturing facility here, according to a press release.
The August 1 press release stated that the move is part of Ryko's recapitalization plan and demonstrates its commitment to operations based in Iowa.
“Ryko is experiencing a record-setting year in sales across all of our lines of business," said CEO Steven L’Heureux. "We executed this deal to free funds for a variety of growth initiatives. Ryko is aggressively investing in its national service organization, improving its manufacturing capacity, and delivering a return on invested capital to our owners."
Other than that it's a 20-year lease, no other details were revealed.