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Citizens Bank Leads $80MM Facility to Support ATS Acquisition

October 30, 2015, 07:40 AM
Filed Under: Aircraft

Citizens Bank announced it is leading an $80 million senior secured credit facility as part of the acquisition of Everett, WA-based Aviation Technical Services, Inc., by New York private equity firm JLL Partners, Inc.

“Citizens was a valuable financial and strategic partner on the ATS transaction,” said Kevin Hammond, Partner of JLL Partners, Inc. “Citizens’ Aerospace, Defense and Government Services team brings great ideas to the table and excels at execution. We look forward to working more with Citizens in the future.”

Aviation Technical Services was founded in 1970 and has grown to become one of the largest third-party transport aircraft maintenance, repair and overhaul providers in North America.

Founded in 1987, JLL Partners is a private equity firm focused on middle-market companies.

“We’re excited to be able to offer our industry expertise to help the management teams at JLL Partners and Aviation Technical Services achieve their strategic and financial goals,” said Leslie Grizzard, Head of the Aerospace, Defense & Government Services Banking Group at Citizens.

With over 20 years of industry experience, Citizens provides financial solutions and business building insights across the aerospace, defense and government services sectors.

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