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Angelo, Gordon In $30M Industrial Buy

NEW YORK CITY-Angelo, Gordon & Co. buys a six-property industrial portfolio from KIK Custom Products, a contract-manufacturer of consumer goods.

By Ian Ritter | Updated on August 04, 2008

NEW YORK CITY-Angelo, Gordon & Co.’s net lease group has acquired six manufacturing and distribution centers located across North America for $30.4 million in a sale-leaseback transaction. The assets, bought from KIK Custom Products, a unit of locally based CI Capital Partners, are in Santa Fe Springs CA; Toronto; Memphis, TN; and Auburndale, FL.

KIK will use the proceeds to pay down debt and fund new capital projects. The firm, an arm of CI Capital since last year, is a manufacturer and distributor of products for such companies as Albertstons, Colgate-Palmolive and Procter & Gamble.

This is the third deal done between Angelo, Gordon & Co.’s net-lease team and CI Capital. “The sale-leaseback with AG Net Lease provided KIK with valuable capital to support its aggressive growth initiatives,” says Steve Lefkowitz, president of New York City-based CI Capital Partners, which is a private-equity buyout operation.

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