The challenge: assets tied up, opportunity at risk
HM SA de CV operates in the distribution of perishable goods in Mexico City. Like many companies in the sector, its growth depended on keeping a fleet of specialized refrigerated units running, but those same assets —acquired with its own resources over the years— were tying up capital the business urgently needed to seize a window of expansion.
The company faced a common paradox among mid-sized Mexican businesses: it had assets, but no liquidity. Requesting an additional loan was not the answer; it would have meant increasing leverage at a time when the sector's margins were already under pressure.
"The ideal solution wasn't an additional loan, but transforming assets into liquidity."
The solution: Sale & Lease Back
Pixxo structured a Sale & Lease Back financial leasing operation over 4 productive assets belonging to HM SA de CV.
The mechanism is elegant in its simplicity:
- HM SA de CV sells its assets to Pixxo at market value
- Pixxo leases them back to HM SA de CV under agreed terms
- HM SA de CV keeps operating with the same assets, now with immediate liquidity
The company did not lose access to any of its units. It kept operating normally. The difference: $12.5 million pesos flowed into its cash position without a single additional line appearing on its bank liabilities.
Deal structure
| Parameter | Detail |
|---|---|
| Assets monetized | 4 productive units |
| Capital unlocked | $12.5 million MXN |
| Increase in bank liabilities | $0 |
| Tax treatment | Lease payments deducted as an operating expense |
| Buyback option | At the end of the term, at the agreed residual value |
Results
The unlocked capital allowed HM SA de CV to fund its expansion plan without compromising its standing with the banks:
- $12.5M in cash available within weeks, not months
- 4 productive assets operating without interruption
- 0 increase in bank liabilities — the balance sheet stayed clean
- 100% of the assets' value converted into operating liquidity
- Tax deduction of lease payments as an expense, optimizing the tax burden
Why Sale & Lease Back works
For a distribution company with heavily utilized assets, this structure solves something traditional bank credit cannot: unlocking capital already invested without generating new debt.
Banks primarily evaluate cash flow and collateral. Pixxo evaluates the asset's real value and the business's operations, which makes it possible to structure solutions that conventional banking simply doesn't offer.
Does your company have idle assets? Schedule an assessment with our team and discover if Sale & Lease Back can unlock the capital you need.