IRVING, Texas, Jan. 03, 2017 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc.(OTC:GLPW) announced that it has completed the previously described sale-leaseback transactions for its U.S. facilities located in Franklin, Indiana, Auburn, Massachusetts and Houston, Texas. Under the terms of the transactions, the Company sold the facilities for $14.8 million and simultaneously entered into 10-year leases. Through the transactions, the capital previously invested in the facilities was released while operations in the facilities continue without interruption. The cash received will be used to reduce debt.

About Global Power 

Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. The Products segment includes two primary product categories: Mechanical Solutions (formerly Auxiliary Products) designs, engineers and manufactures a comprehensive portfolio of equipment for utility-scale natural gas turbines while Electrical Solutions provides custom-configured electrical houses and generator enclosures for a variety of industries. The Services segment provides lifecycle maintenance, repair, on-site specialty support, outage management, construction and fabrication services for the power generation, industrial, chemical/petrochemical processing, and oil and gas industries. The Company provides information at its website: www.globalpower.com.