Daily News: September 26, 2013

Deloitte Advises AirBorn on Debt Recapitalization

Deloitte announced its advisory role as the exclusive financial advisor to AirBorn in the completion of the transaction. Financing was provided by Goldman Sachs Specialty Lending Group and PNC Bank.

AirBorn engaged DCF to raise debt in order to provide a capital structure to support the company’s cash requirements and corporate objectives. DCF leveraged its deep ESOP corporate finance experience in analyzing several factors affecting the company’s performance and capital needs.

“We are proud to have acted as the exclusive financial advisor to AirBorn, and pleased that our ESOP experience and relationships with funding sources helped our client raise the capital needed to achieve their corporate objectives,” said Lou Paone, managing director, Deloitte Corporate Finance.

“When we finally decided it was time to step back and holistically look at our current financial structure, we knew exactly who to call,” said Bob McGahan, chief financial officer, AirBorn. “The DCF team understood our business, corporate culture, future growth plans and strategy. Because of that in-depth understanding of our company, they were able to successfully work with us to develop and implement the optimal financial structure with the right financial partners to help us achieve our future successes and strategies.”

DCF approached a variety of senior, unitranche and subordinated lending sources and received multiple term sheets from various capital providers.

Georgetown, TX-AirBorn is an employee-owned, international manufacturer of specialty electronics for the aerospace, defense, medical, industrial automation and energy industries.