Golub Capital said Wednesday that it provided $193 million in financing to Aurora Capital Group to support its buy of National Technical Systems. Headquartered in Calabasas, Calif., NTS is a provider of testing and engineering services to the aerospace, defense, telecommunications, automotive, energy and high technology sectors.
CHICAGO, Nov. 27, 2013 /PRNewswire/ — Golub Capital announced today that, as Sole Bookrunner and Administrative Agent, it provided a $193 million GOLD financing to support the acquisition of National Technical Systems, Inc. (“NTS”) by Aurora Capital Group (“Aurora”). GOLD financings are Golub Capital’s One-Loan Debt facilities.
NTS is a leading provider of testing and engineering services to the aerospace, defense, telecommunications, automotive, energy and high technology markets. Through a world-wide network of resources, NTS provides full product life-cycle support, offering world-class design engineering, compliance, testing, certification, quality registration and program management solutions.
Operating one of the largest networks of test laboratories in North America built over half a century, NTS has long set the standard for independent testing, inspection and certification solutions. Its customers include a diverse mix of thousands of the nation’s leading corporations and government-sponsored research and testing entities. NTS President and CEO William C. McGinnis, along with the rest of his management team, will continue overseeing NTS’s operations under Aurora’s ownership.
“We are excited to support Aurora’s investment in NTS. We believe NTS is a unique platform in an attractive space with an extraordinary management team,” said Troy Oder, Managing Director at Golub Capital. “We value Aurora’s deep industry expertise and disciplined approach to investing, and we are thrilled to close our second transaction alongside them this year.”
“Golub Capital provided an outstanding financing execution to support our investment in NTS,” said Michael Marino, Partner of Aurora Capital Group. “We have been working hard on this transaction for many months, and Golub supported our efforts throughout the process. We are thrilled to have a flexible and scalable financing solution in place that is tailored to grow alongside NTS and support its many strategic and operational initiatives.”
About Golub Capital
With over $8 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $300 million. Golub Capital’s hold sizes range up to $250 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 3Q 2013 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). Year to date, Golub Capital has been awarded Finance Monthly’s Global Awards 2013 “Credit Asset Manager of the Year,” and DealMakers M&A Awards 2013 “Middle Market Lender of the Year.” In 2012, Golub Capital was awarded ACG New York Champion’s Award for “Senior Lender Firm of the Year” and the M&A Advisor award for “Lender Firm of the Year.” Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm’s website at www.golubcapital.com.
About Aurora Capital Group
Aurora is a Los Angeles-based private investment firm managing over $2.0 billion of capital across several private equity funds. Aurora’s traditional private equity vehicle, Aurora Equity Partners, focuses principally on control investments in middle market businesses with leading market positions, strong cash flow profiles and actionable opportunities for growth in partnership with operating management. Aurora’s investors include leading pension funds, financial institutions, endowments and foundations active in private equity investing. For more information, please visit www.auroracap.com.