DEAL SIZE
$58,000,000
Avborne, Inc.
COMPANY
Avborne, Inc. is a leading provider of MRO services for the commercial and military aviation industry, offering it’s customers asset management and exchange programs as well as FAA-approved, DER, repairs and PMA options.
The Company provides repair capability for over 20,000 part numbers covering 22 ATA chapters. With expertise in: Hydraulics, CSD/IDG’s, Pneumatics, Fuel Controls, Electronics, Instruments, and Wheels and Brakes. With Certifications from FAA, EASA, CAAC, and ANAC, Sargent’s Aftermarket Services has the resources and range of services to support your global MRO needs.
OVERVIEW
- Company had $123 million of debt in default
- Company had a highly leveraged balance sheet
ACM VALUE ADD
- Negotiated with debt holders to restructure balance sheet
- Created new recovery preferred stock
- Converted old common and mezzanine debt into new recovery preferred
- Recapitalized the company resulting in $58 million in senior debt forgiveness
