BOSTON, April 9, 2012 /PRNewswire/ -- The Debt Investment Group of GB Merchant Partners, LLC, the investment management affiliate of Gordon Brothers Group, announced today that it has increased its existing term loan to VAS Aero Services, a leading global provider of aftermarket aviation component services and distribution. GB Merchant Partners agented the Term Loan facility which will be instrumental in supporting the Company's continued growth.
Boca Raton, Florida-based VAS Aero Services, formerly a division of AB Volvo known as Volvo Aero Services, was acquired by an affiliate of H.I.G. Capital, LLC in early October 2010. The Company sources, warehouses and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies and MRO providers.
"Since 2010, VAS has made significant strides in enhancing its position as a global leader in the aviation aftermarket sector and GB Merchant Partners is delighted to continue to support those efforts with the increased Term Loan facility," commented Gary Prager, Managing Director, Debt Investment Group, GB Merchant Partners. "VAS's position in the aviation aftermarket creates a unique opportunity for them to execute on their strategic vision."
About GB Merchant Partners
The Debt Investment Group of GB Merchant Partners (www.gbmerchantpartners.com), the investment management affiliate of Gordon Brothers Group, originates, structures and invests in private market debt. Structured debt investments in the form of senior, unitranche, second lien or mezzanine loans ranging from $10 to $50 million are made to middle-market companies in need of capital to effect strategic change. Target industries include aerospace, automotive, commodities, consumer products, forest products, gaming, industrial equipment, manufacturing, real estate, restaurants, retail, and wholesale/distribution.
About VAS Aero Services
VAS Aero Services is a global leader in aviation logistics and aftermarket services. The Company supplies more than 900,000 different parts to its customers. VAS' portfolio of solutions also encompasses logistics, warehousing, program management, and sourcing. VAS Aero Services enjoys the support of such marquis customers as the Boeing Company, for which VAS serves as the exclusive materials distributor, Embraer, GE Aviation, Hamilton Sundstrand, Honeywell and other premier airline and aviation manufacturing companies. For more information, please visit www.vas.aero.
SOURCE Gordon Brothers Group