CHARLOTTE, N.C., Nov. 12, 2018 /PRNewswire/ -- Deloitte
Corporate Finance LLC (Deloitte) acted as the exclusive financial
advisor to AirBorn, Inc., a Georgetown,
Texas-based employee stock ownership plan (ESOP)
manufacturing firm that specializes in the creation of
mission-critical electronic components, in its recapitalization
with LBC Credit Partners and Wells Fargo Capital Finance. The
transaction closed Sept. 17,
2018.
"We could not be more pleased with the outcomes for AirBorn and
our employee shareholder-base," said Cindy
Lewis, CEO of AirBorn, Inc. "Deloitte has been a trusted
advisor for many years and they were instrumental in guiding us
through this transaction. Their knowledge of our industry and the
intricacies of ESOP corporate structures and relationships in the
lending community were critical factors leading to this
recapitalization. They positioned our leadership team for success
in all steps of the process and worked tirelessly to enable AirBorn
achieved a great result."
"Combining AirBorn's reputation for providing high quality,
mission-critical electronic components and strong track record of
growth with our capital advisory experience contributed to AirBorn
achieving its financing objectives," said John Deering, managing director, Deloitte
Corporate Finance LLC and head of DCF's private capital solutions
practice.
About AirBorn, Inc.
AirBorn is a 100% employee owned
company whose core business is engineering and
manufacturing connectors for OEMs worldwide. AirBorn
offers extensive expertise in cable assemblies, flexible
circuits, and comprehensive value-added
services including design and engineering services, PCB
assembly, box builds, power supply manufacturing, and full testing
and lab services.
The Company services a wide variety of industries such as
aerospace and defense, medical, industrial automation, and energy.
It currently operates several manufacturing facilities in
the United States as well as in
the United Kingdom and
Canada. For more information,
visit https://www.airborn.com/.
About LBC Credit Partners
LBC Credit Partners is a
leading provider of financing solutions including senior term,
unitranche, second lien, junior secured, mezzanine debt and equity
co-investments to companies throughout North America supporting buyouts,
acquisitions, growth strategies, recapitalizations, refinancings,
and restructurings for sponsored and non-sponsored transactions.
The firm has over $3 billion of
capital commitments, and has invested over $5 billion in over 200 issuers across a wide
range of industries. LBC's Middle Market fund normally invests
$15 million to $150 million per transaction in companies with
EBITDA greater than $5 million. For
more information, visit http://www.lbccredit.com/.
Wells Fargo Capital Finance
Wells Fargo Capital Finance offers traditional asset-based lending,
specialized junior and senior secured financing, and factoring
(accounts receivable financing) for domestic and international
companies. The firm works across a variety of industries and has
developed specialty teams with focused expertise serving healthcare
providers, retailers, software and technology companies, specialty
finance companies, staffing companies, government contractors, and
transportation companies. For more information, visit
https://wellsfargocapitalfinance.com/.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services
and M&A advice that help corporate, entrepreneurial and private
equity clients create and act upon opportunities for liquidity,
growth and long-term advantage. With an in-depth understanding of
the marketplace and access to a global network of investment
bankers, we help clients confidently pursue strategic transactions
in both domestic and global markets. Deloitte Corporate Finance,
together with the Corporate Finance Advisory practices within the
Deloitte Touche Tohmatsu Limited network of member firms, include
in excess of 1,900 professionals, who work collaboratively across
150 international locations. With our significant experience
providing investment banking services across key industries, we are
able to offer our clients solutions that help them to achieve their
strategic objectives. For more information, visit
www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future
performance and may not be representative of the experience of
other clients. This communication is for informational purposes
only and is not intended as an offer or solicitation for the
purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer
and member of FINRA and SIPC, is an indirect wholly-owned
subsidiary of Deloitte Financial Advisory Services LLP and
affiliate of Deloitte Transactions and Business Analytics LLP.
Investment banking products and services within the United States are offered exclusively
through Deloitte Corporate Finance LLC. For more information, visit
www.investmentbanking.deloitte.com. Please see
www.deloitte.com/us/about for a detailed description of our legal
structure. Certain services may not be available to attest clients
under the rules and regulations of public accounting.
For media inquiries, please contact:
Shelley Pfaendler
Public Relations
Deloitte Services LP
+1 212 492 4484
spfaendler@deloitte.com
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SOURCE Deloitte