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Tree Line Capital Partners Arranges Financing to Support Westward Partners’ Acquisition of Grant Aviation

March 15, 2021, 07:21 AM
Filed Under: Aviation

Tree Line Capital Partners served as agent and lead arranger for a first lien credit facility to support Westward Partners’ (“Westward”) acquisition of Grant Aviation Inc. (“Grant Aviation” or the “Company”).  The credit facility included a revolver and acquisition financing term loan. Tree Line also provided an equity co-investment to further support Westward’s acquisition.  Investors within the state of Alaska also contributed significant capital to the transaction.

Headquartered in Anchorage, AK, Grant Aviation is a leading logistics company offering regional air transport in the Southwester Alaska region. Grant Aviation is the largest Part 135 carrier in Alaska with 50 planes focused on primarily providing USPS mail & freight transport. Grant Aviation also provides Essential Air Services government contracts and provides normal course passenger/medevac services to rural communities in Southwestern Alaska. Grant Aviation has differentiated itself through high-quality and reliable service coupled with its best-in-class operational and safety procedures. These features have been key in Grant securing its top market share status.

“Tree Line was highly flexible, efficient, and thoughtful throughout the financing process and delivered a comprehensive credit solution,” said Andy Baldridge, Founding Partner of Westward. “We are excited to begin our relationship with Tree Line as we assess additional creative opportunities with Grant Aviation as well as future deals at Westward.”

Frank Cupido, Partner of Tree Line added, “This investment in Grant Aviation is a clear example of our ability to provide complete financing solutions across the capital structure to support our sponsors and borrowers.  Grant Aviation has been a longstanding leader in Alaskan logistics for over 50 years and is extremely well positioned for future growth.  We’re excited to launch this partnership.”

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