Ryko Solutions Completes Sale, Leaseback

Transaction frees funds for aggressive growth strategy.

Ryko Solutions Inc., a full-spectrum supplier of car wash equipment, cleaning products and services support in North America has completed a sale leaseback of its 250,000 square foot manufacturing facility in Grimes, Iowa.  

The move was a both a strategic part of the company’s recapitalization plan and a restatement of its commitment to continue Iowa-based operations. Details of the 20-year lease transaction were not disclosed.

“Ryko is experiencing a record-setting year in sales across all of our lines of business.  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,” explained Steven L’Heureux, CEO of Ryko Solutions Inc.

Ryko Solutions Inc.’s integrated, end-to-end clean vehicle solution is designed to deliver maximum profitability in car wash operations for gas/convenience stores, private investors, land developers and auto dealers. The company was founded in 1973 and employs approximately 400 people throughout North America.

 

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