Exponent Private Equity has refinanced the U.S. Subsidiary of its portfolio company Pattonair USA
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has announced the successful completion of a financing for Pattonair USA, Inc. (“Pattonair” or the “Company”), a U.S. subsidiary of the Pattonair Group which was recently acquired by U.K.-based Exponent Private Equity, LP (“Exponent”). Pattonair is a well-known distributor of aerospace components and provider of value-added supply chain management solutions to OEM and Tier 1 aerospace suppliers. Lincoln International acted as exclusive financial advisor to the Company and Exponent and completed the placement of a $30.0 million committed revolving credit facility. Proceeds from the transaction will be used to fund the working capital needs of the business to support its projected growth. The revolving credit facility was provided by Wells Fargo Capital Finance.
As the Company’s exclusive financial advisor, Lincoln worked closely with Exponent and Pattonair’s senior management team on all aspects of the transaction, helping to structure, arrange and negotiate the financing.
About Pattonair Group
Pattonair is a leading provider of distribution and value added supply chain management services to the aerospace and defense industry. Customers include Rolls-Royce plc, BAE Systems, Safran Group, Parker Aerospace, Goodrich, Turbomeca and ATK. The business undertakes the sourcing, procurement, inspection, warehousing, product movement, picking and delivery on a just-in-time basis for high volume, low value parts and small and medium complexity components. Pattonair not only manages the supply of parts to OEM and Tier 1 aerospace suppliers, but also enables customers to improve their productivity and profitability by outsourcing their non-core supply chain functions, such as warehousing, inventory management and delivery logistics.
About Exponent Private Equity, LP
Headquartered in London, England, Exponent is an independent investment firm with funds under management of £1.2 billion (~$1.9 billion). Exponent was founded in 2004 by a long established team to invest in UK mid-market private equity opportunities. For more information on Exponent, please visit www.exponentpe.com.
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