Ares Commercial Finance provided a senior secured revolving line of credit to Stevens Aerospace and Defense Systems. The company is owned by principals of the NTC Group.
Proceeds of the financing will be used to refinance the company’s existing credit facility and to provide ongoing working capital support.
Founded in 1950, Stevens is an independent maintenance, repair and overhaul company which provides services to civilian, commercial and military operators of general aviation aircraft from its fixed base operations in Greenville, SC, Nashville, TN, Dayton, OH and Macon, GA.
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Ares Commercial Finance is the asset-based lending team of Ares Management Corporation. It provides credit facilities ranging from $10 million to $150 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail and service companies.
