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Bain Capital Credit Provides $75 Million Unitranche Financing to Air Comm Corporation, a Leading Aviation Component Supplier

July 29, 2019

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Bain Capital Credit Provides $75 Million Unitranche Financing  to Air Comm Corporation, a Leading Aviation Component Supplier

BOSTON, July 29, 2019 — Bain Capital Credit, a leading global credit specialist, today announced that, as sole lead arranger and administrative agent, it provided a $75 million unitranche credit facility to support Air Comm Corporation (“Air Comm”), a supplier of mission-critical components and fully engineered solutions for commercial and military aerospace customers.

Air Comm was founded in 1987 by Norm Steiner to meet the needs of helicopter operators seeking solutions to problems commonly found in factory-installed environmental control systems.  Today, Air Comm, which remains family-owned and operated, is an industry leader in the development and manufacture of state-of-the-art heating and air conditioning systems for a wide range of helicopter and fixed wing aircraft platforms. Air Comm’s portfolio of customers includes Bell Helicopter, Airbus Helicopters, Textron Aviation, Pilatus Aircraft, Sikorsky, Leonardo, and Cirrus Aircraft.  

“Bain Capital Credit’s knowledge of the specialty aerospace market allowed them to quickly arrange a bespoke capital solution to support our growing business,” said Keith Steiner, President and CEO of Air Comm.  “We look forward to a constructive partnership with the Bain Capital Credit team as we continue to grow our business and deliver high quality products and services to our customers.”

“Air Comm is a rapidly-growing aerospace supplier with strong engineering expertise and capable management,” said Matt Evans, a Director at Bain Capital Credit.  “We are pleased to provide a comprehensive financing solution to Air Comm and support the company’s strategy for continued growth.”

SPP Capital Partners and ANV Partners served as financial advisors to Air Comm on the transaction.

About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit's dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.