Ryko completes sale leaseback of its manufacturing facility - Professional Carwashing & Detailing

Ryko completes sale leaseback of its manufacturing facility

GRIMES, IA ― "We executed this deal to free funds for a variety of growth initiatives," said Ryko Solutions Inc. CEO Steven L’Heureux.

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.

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