AvAir has closed $170 million in new revolving credit facilities arranged with six banks, giving the Chandler, Arizona-based aviation aftermarket company additional borrowing capacity for working capital, inventory purchases, acquisitions and other growth initiatives. The facilities were provided by HSBC Bank USA, Crédit Agricole Corporate and Investment Bank, First Citizens Bank, Western Alliance Bank, Flagstar Bank and Sunflower Bank. Terms and the amount AvAir expects to draw were not disclosed.
The financing follows AvAir’s acquisition of Full Stop Technics, a Milwaukee-based wheel and brake repair provider holding FAA and EASA certifications. The acquisition added maintenance, repair and overhaul capabilities and a service provider for AvAir’s wheel-and-brake exchange programme. Full Stop continues to operate under its existing brand at its Milwaukee facility.
AvAir expects the credit capacity to support inventory investment, capability development and expansion of its global aftermarket platform. The revolving structure gives the company access to funding for these activities without disclosing a fixed allocation among them.