GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, has provided a term loan to VAS Aero Services, a provider of aftermarket aviation component services and distribution.
VAS Aero Services sources, warehouses and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies and MRO providers.
The term loan is supported by inventory and accounts receivable.
VAS Aero Services, formerly a division of AB Volvo known as Volvo Aero Services, was acquired by an affiliate of H.I.G. Capital in early October 2010.
"We view aftermarket aviation component services as an attractive market and believe that now is an opportune time in the industry cycle to invest," says Bret Wiener, managing director at H.I.G. "We appreciate the support of GB Merchant Partners, which helped us complete this strategic acquisition."
"The combination of VAS Aero Services’ relationships, experienced management team and strong balance sheet positions them for future growth," adds Gary Prager, managing director at GB Merchant Partners. "It was a pleasure to work with H.I.G. to facilitate the completion of this acquisition."
