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Wagon Works $58M Manufacturing Sale-Leaseback

NAGOLD, GERMANY-The United Kingdom-based firm, a manufacturer of vehicle body structures, is working a $58 million sale-leaseback of two manufacturing sites.

By Ryan Clark | Updated on August 19, 2008

NAGOLD, GERMANY-United Kingdom-based Wagon plc, a manufacturer of vehicle body structures, is working a sale-leaseback of two manufacturing sites–Waldaschaff and Nagold–with WP Carey & Co. LLC for $58 million through their publicly-held, non-traded REITs–CPA(R):15 and CPA(R):17. WL Ross & Co. LLC will also provide funding of approximately $70 million to the manufacturer in the form of special rights offering of Wagon Common shares.

Wagon was originally a railway wagon repair business, but has altered its focus over the years to automobiles. Specializing in design, engineering and manufacturing of body structures and closure systems, Wagon’s customers include Peugot, Renault, Daimler and Volkswagen with 22 plants in 10 countries.

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