Merex Group, a portfolio company of Dubin Clark, has received a credit facility from GE Antares to support its buy of Kellstrom Defense Aerospace. No financial terms were disclosed. GE Capital Markets was the lead arranger and joint bookrunner on the loan. Based in Miramar, Florida, Kellstrom Defense is a provider of inventory management solutions and aftermarket services, specializing in the defense aircraft aftermarket support.
CHICAGO–(BUSINESS WIRE)–GE Antares, a unit of GE Capital, announced today it served as administrative agent on a senior secured credit facility to support the acquisition of Kellstrom Defense Aerospace, Inc. by the Merex Group, a portfolio company of Dubin Clark & Company, Inc. GE Capital Markets served as sole lead arranger and joint bookrunner on this facility.
Headquartered in Miramar, FL, Kellstrom Defense is an industry leader in aftermarket logistics and inventory support for a variety of Defense Derivative aircrafts. Kellstrom Defense is a globally-recognized provider of inventory management solutions and aftermarket services, specializing in the defense aircraft aftermarket support.
“GE Antares is a valued business partner, bringing more than just capital,” said Michael Hompesch, partner at Dubin Clark. “They also brought GE’s expertise in aerospace, helping us realize the opportunity we see to drive consolidation and scale in the global defense aftermarket space.”
“We’re excited to provide debt and equity financing in support of Dubin Clark,” said Chip Cushman, managing director of GE Antares. “We look forward to continuing to support the strong growth opportunities at Merex Group and Kellstrom.”
About Merex Group:
The Merex Group is a global provider of comprehensive support for U.S. manufactured legacy defense platforms including aircraft, helicopters and their respective engines. Supporting more than 35 armed forces worldwide that operate legacy defense platforms, Merex Group’s “Total Support” approach of providing spares/components, repair/overhaul management, and project management of systems upgrades, has been instrumental in the Company’s success in this growing market. The Merex Group is headquartered in Camarillo, CA and is a Dubin Clark portfolio company. The Merex Group is comprised by Merex Inc., Commerce Overseas Corporation and ALCO Services. Further information is available at www.merexinc.com.
About Dubin Clark:
Dubin Clark & Company, Inc. is a private investment firm headquartered in Greenwich, Connecticut with a 30-year history of investing in control-position, middle-market buyouts and building businesses in partnership with the management teams of its portfolio companies. Best known for building CompUSA from a two-store operation into a multibillion-dollar national chain, Dubin Clark has a national reputation for helping successful middle-market companies reach new levels of sales and earnings. The organization has a philosophy of maintaining each company’s values, independence and culture, and building on what has already been achieved.” Further information is available at www.dubinclark.com.
About GE Antares Capital
GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is a leading middle market lender, offering a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. GE Antares was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively. For more information, visit geantares.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com