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Deloitte Corporate Finance Advises AirBorn on Goldman Sachs Financing

June 04, 2014, 07:25 AM
Filed Under: Manufacturing

Deloitte Corporate Finance LLC announced its role as the exclusive financial advisor to AirBorn, Inc. (“AirBorn” or the “Company”) in securing financing from Goldman Sachs Specialty Lending Group.  AirBorn engaged DCF to assist in raising capital to help provide liquidity for shareholder-related matters and flexibility for corporate growth initiatives. 

DCF’s employee stock ownership plan (ESOP) corporate finance experience was leveraged to assist in analyzing several factors affecting the company’s future cash needs including obligations related to the company’s S-Corp ESOP structure and synthetic equity positions.

“This transaction is consistent with our overall financing strategy to provide AirBorn with increased financial flexibility, and the ability to take advantage of large growth opportunities we have in the marketplace today.  Having the right long-term financial partners is essential to that strategy and we are delighted to grow our existing relationship with Goldman Sachs.  Providing our customers with the highest quality products and services in our industry is AirBorn’s top priority, and a strong financial foundation is critical to delivering on this mandate,” said Bob McGahan, chief financial officer of AirBorn, Inc.

“We are very pleased to have leveraged our extensive ESOP corporate finance experience and capital markets reach to assist AirBorn, Inc. in sourcing and negotiating a junior security,” remarked Lou Paone, managing director, Deloitte Corporate Finance LLC, and head of DCF’s ESOP advisory practice.

AirBorn, Inc., based in Georgetown, Texas, is an employee-owned, international manufacturer of specialty electronics for the aerospace, defense, medical, industrial automation, and energy industries.  The Company provides a comprehensive range of proprietary, mission-critical products, including electronic interconnects, flexible circuit boards, cable assemblies, electronic assemblies, and power supplies.  AirBorn currently has several manufacturing facilities in the United States, as well as facilities in the United Kingdom and Canada.

Goldman Sachs Specialty Lending Group (GSSLG) is the firm’s investment platform dedicated to providing financing solutions ranging from traditional senior bank debt through mezzanine solutions to middle market companies based in the US and Canada.  GSSLG financings have traditionally supported leveraged and management buyouts, recapitalizations, expansion and growth financings, ESOPs as well as turnarounds, restructurings and exit financings.  GSSLG’s typical investments target transactions ranging in size from $15 million to $200 million with a focus on a leadership role, supported by an emphasis on intrinsic value in addition to traditional credit analysis.

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