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Veritas Financial Partners Provides $10MM for Ameriflight

August 04, 2017, 07:00 AM
Filed Under: Aircraft

Veritas Financial Partners announces the closing of a $10 million revolving credit facility for Ameriflight, LLC. Ameriflight utilized the proceeds to refinance their existing senior debt and to provide additional working capital for the business.

Headquartered in Dallas, Texas, Ameriflight is an international operator and the nation’s largest Part 135 cargo airline. The company was founded in 1968 and has more than 500 employees and more than 150 aircraft. Ameriflight operates over 300 daily departures serving 175 cities, 33 states, and 14 countries. The airline provides scheduled feeder services for overnight express carriers such as UPS, FedEx, and DHL. Ameriflight intends to continue to grow its share in this highly fragmented market, capitalizing on its extensive footprint and infrastructure.

Evan Nadler, Senior Vice President of Veritas Financial Partners, said, “It is gratifying to successfully complete a financial recapitalization for a company with as much upside opportunity as Ameriflight.  I wish the Ameriflight team all the best in continuing to execute on its strategic plan.”

In closing this transaction, Veritas partnered with UAS Transervices, a division of GardaWorld, the world’s largest privately owned security company and leader in secure transportations services.  UAS and Veritas combined to form a comprehensive financing solution to Ameriflight’s working capital and ongoing aircraft lease financing needs.

Brian Randow, Chief Executive Officer of Ameriflight, said, “The Veritas team did exactly what they said they would – delivered a comprehensive financing solution that addressed our objectives and business opportunity, and executed it within 60 days.”

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