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Thursday, Sep 28, 2023

NTS Sells Land, then Leases It Back for Expansion

Engineering test services firm National Technical Services Inc. has sold a 650-acre parcel of land it purchased last year to expand its testing facilities in Arkansas. The Calabasas-based company will lease back the land and move ahead with its expansion plans. Terms of the sale were not disclosed. The proceeds were used to pay off the loan on the land. “We believe this new lease arrangement provides a very favorable financing option and gives us equivalent benefits of use,” said National Technical CEO William McGinnis. The expanded testing facilities now under construction allow National Technical to perform testing previously not suitable due to space limitations, McGinnis said.

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