BOSTON, July 15, 2019 — Bain Capital Credit today announced that, as sole lead arranger and administrative agent, it led a $160 million senior secured unitranche credit facility to support Trive Capital’s recapitalization of AEVEX Aerospace, a leading provider of full-spectrum airborne intelligence solutions for the global intelligence community.
Headquartered in Solana Beach, CA, AEVEX Aerospace takes a long-term view of relationships within the defense and commercial aerospace industries, partnering with customers to identify, develop, and deliver tailored solutions for airborne intelligence requirements. The Company’s vertically integrated Intelligence, Surveillance, and Reconnaissance (ISR) platform operates across three lines of business: Aircraft Services, Flight Operations Support, and Intelligence Solutions.
“We were impressed with Bain Capital Credit’s aerospace industry knowledge and ability to execute a flexible financing solution with the speed and certainty that was necessary to support this transaction,” said David Stinnett, a Partner at Trive Capital. “This was our first transaction with the Bain Capital Credit team, and we look forward to a continued partnership.”
“We’re pleased to be Trive’s partner of choice on this transaction and look forward to supporting AEVEX’s next phase of growth as the company continues to leverage its deep relationships within the global intelligence community,” said Olof Bergqvist, a Managing Director at Bain Capital Credit. “With a talented management team and strong operational support from Trive, AEVEX is well-positioned to take advantage of attractive industry tailwinds and enhance its strategic capabilities.”
William Blair served as exclusive financial advisor to AEVEX Aerospace 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.