CHICAGO--(BUSINESS WIRE)--Antares Capital announced today it is serving as administrative agent, joint lead arranger and joint bookrunner on an $80 million senior secured credit facility to support the acquisition of West Star Aviation by Norwest Equity Partners (NEP).
Founded in 1947 in East Alton, IL, West Star Aviation is an industry leader in aviation services including maintenance, repair and complete FBO services.
“Antares was creative in delivering a financing solution to support the growth plan for West Star Aviation,” said Todd Solow, partner at Norwest Equity Partners. “We always appreciate the level of flexibility that the Antares team brings to each transaction.”
“We’re pleased to support NEP’s investment in West Star Aviation,” said David Swanson, managing director with Antares Capital. “West Star Aviation is a team of industry veterans whose expertise and customer service has resulted in a leading market position and loyal customers. We look forward to working closely with the West Star team and NEP on driving operational excellence and performance for the company.”
About West Star Aviation
West Star Aviation Inc. (www.weststaraviation.com) specializes in airframe repair and maintenance, engine repair and maintenance, major modifications, avionics installation and repair, interior refurbishment, paint, parts, surplus avionics sales, window repair and accessory services. The company also provides complete FBO services for transient aircraft at its East Alton and Grand Junction facilities.
About Norwest Equity Partners
Founded in 1961, NEP is a leading equity investment firm and focuses on partnering with companies to build them into industry leaders. As one of the largest and oldest equity investment firms in the Upper Midwest, NEP has a long-standing history of investment and operational success. More information on NEP and the firm’s investment history can be found on http://www.nep.com.
About Antares Capital
Antares Capital is the leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has facilitated more than $120 billion in financing over the past five years, and was named 2015 Dealmakers of the Year by Mergers & Acquisitions. Antares was also recognized as 2014 Lender of the Year by Mergers & Acquisitions and was 2013 Lender of the Year, North American and Mid-Cap Lender of the Year, North America by Private Debt Investor and Private Equity International, respectively. Visit us at www.antares.com or follow Antares Capital on Twitter at https://www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.