PCX Aerostructures, a provider of flight critical partners and structural assemblies for military and commercial aerospace platforms, has secured a $23 million loan from Great Rock Capital. The capital infusion will be used for growth and product enhancements.
WESTPORT, Conn., March 13, 2018 /PRNewswire/ — Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $23 million senior secured loan with PCX Aerostructures (PCX), a leading supplier of highly engineered, precision, flight critical parts and structural assemblies for military and commercial aerospace platforms.
The new capital will enable PCX to continue to grow and enhance their product offerings for new rotorcraft and fixed wing platforms while meeting the advanced requirements of the ever-changing aerospace industry. The facility includes a $21 million term loan and a $2 million capital expenditure facility.
“PCX has built a reputation for excellence in precision machining and complex fabrications, and we look forward to helping drive their continued growth as a leading supplier in the military and commercial aerospace industry,” shared Stuart Armstrong, CEO of Great Rock Capital.
Jeff Frisby, President & CEO of PCX Aerostructures added, “We are excited about our partnership with Great Rock and what it entails for the future and growth of our business, especially as we remain focused on maintaining superior delivery and quality levels for our customers and outperforming our competition.”
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company specializing in serving the needs of middle-market companies with a wide variety of secured lending products. Great Rock Capital provides fast, flexible and creative financing solutions to maximize its customers’ liquidity to enable them to better execute their business plans.