Close Leasing completes £600k sale and leaseback deal with manufacturer

Sarantel, a manufacturer of filtering antennas for mobile and wireless devices, has completed a sale and leaseback of its fixed assets comprising all plant and machinery, test and computer equipment to Close Leasing. The total value of the sale and leaseback was £600,000 (698,000), with Sarantel realising net proceeds of £311,000 on the deal. The principle terms of the finance lease are a 36 month term at a monthly rental of approximately £20,000, the company said.