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Antares Capital Supports The Gores Group’s Recap of TurbineAero

March 28, 2018, 07:15 AM
Filed Under: Aerospace

Antares Capital announced it is serving as administrative agent and sole lead arranger on a $73.5 million senior secured credit facility to support the recapitalization and growth initiatives of TurbineAero, Inc. by The Gores Group.

Headquartered in Chandler, AZ, TurbineAero is one of the world’s leading independent aerospace component maintenance, repair and overhaul (MRO) service provider focused on auxiliary power units (APUs) and related products. The use of proceeds includes accelerating TurbineAero’s MRO capacity and overall global footprint, as well as acquiring additional APU repair and manufacturing capabilities which will further their global APU leadership position.

“In leading this transaction, Antares was flexible and delivered the capital we sought to further invest in and drive growth for TurbineAero,” said Ed Johnson, senior managing director with The Gores Group. “We’ve been working closely with TurbineAero on strategies for both organic and inorganic growth, and we look forward to executing on those plans.”

“TurbineAero has a solid management team, a leading market position and a strong growth potential,” said Matthew Fleming, managing director with Antares. “We were pleased to work closely with The Gores Group and TurbineAero to provide an optimal financing solution.”

“We are honored to take this exciting next step with The Gores Group, as well as work closely with Antares, as we roll out the next chapter of APU leadership,” said Rob Higby, CEO at TurbineAero. “We will be releasing a series of growth initiatives throughout the year that include various acquisitions, expansion of our global footprint and launching new capabilities.”


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