Setna iO has amended and expanded its commercial credit facility, raising total borrowing capacity to US$550 million. The move, backed by six leading commercial banks, provides greater financial flexibility for investments across its key units, including Setnix, Setnix UK, PartsLab, Zulu, and LGT.
The expansion supports Setna’s global parts trading and maintenance, repair, and overhaul (MRO) operations. It also aligns with the anticipated addition of J&C Aero to the group, which will extend its international presence and service range.
Setna iO’s recent activities underscore its growth in the aviation aftermarket. The company acquired a majority stake in Landing Gear Technologies (LGT) in Hialeah, Florida, last August and reached an agreement for a majority stake in Zulu Global, a Florida-based component repair and parts manufacturer.[2][3] These moves, along with facility expansions, are expected to increase MRO earnings from 5% to 20% of total earnings by next year, according to CEO David Chaimovitz.[2]
Additional expansions include a Boeing 737-700 teardown at its ecube facility in Coolidge, Arizona, and CFM56-7B engine disassembly in the UK, feeding components into its MRO network for global distribution.[4] Setna iO also purchased a 112,300-square-foot property in Tempe, Arizona, for $27.5 million to bolster operations.[5]