PHILADELPHIA, Oct. 23, 2018 /PRNewswire/ -- LBC Credit Partners ("LBC") a leading provider of financing solutions to middle market companies, provided a $60.0 million senior secured term loan to support the recapitalization of AirBorn, Inc. ("AirBorn").
LBC served as Administrative Agent and Sole Lender for the senior secured term loan.
AirBorn is a 100% employee-owned company through an Employee Stock Ownership Plan ("ESOP"). AirBorn's core business is engineering and manufacturing connectors for Original Equipment Manufacturers worldwide. AirBorn has extensive expertise in cable assemblies, flexible circuits and also offers comprehensive value-added services including design and engineering services, PCB assembly, box builds, power supply manufacturing, plus full testing and lab services. AirBorn services customers across a wide variety of industries such as aerospace, defense, medical, industrial automation and energy. AirBorn currently operates several manufacturing facilities in the United States as well as in the United Kingdom and Canada.
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $3 billion* of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. LBC is headquartered in Philadelphia, with offices in Chicago, New York and Los Angeles. To learn more, visit www.lbccredit.com.
*Information as of June 30, 2018
Tel (724) 979-4293
SOURCE LBC Credit Partners