08:42 AM EDT, 09/11/2024 (MT Newswires) -- Douglas Dynamics ( PLOW ) said Wednesday that it has completed a $64.2 million sale-leaseback deal with TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG (TPG).

The deal involves its facilities in five locations: Huntley, Illinois; Manchester, Iowa; Rockland, Maine; Madison Heights, Michigan; and Milwaukee, Wisconsin.

The lease agreement is for 15 years with two 10-year renewal options.

The company said the proceeds will be used to reduce its term loan debt and for other corporate needs.

Price: 26.95, Change: +0.07, Percent Change: +0.26