Citizens Commercial Banking led a new credit facility for Fairfax, VA-based MAG Aerospace to provide working capital and acquisition financing. Citizens served as left lead arranger, joint bookrunner and administrative agent on the transaction.
MAG Aerospace provides manned/unmanned full-spectrum outsourced intelligence, surveillance and reconnaissance services, with more than 1,000 employees operating more than 200 platforms over 100,000 flight hours annually on six continents.
“Citizens Bank served as a trusted strategic and financing partner on this deal. With this new credit facility for MAG Aerospace, they have helped the company broaden its capabilities and position itself for future growth,” said Laura Holson, head of Capital Markets at New Mountain Capital, a New York City-based growth-oriented investment firm that currently manages more than $20 billion in assets and recently acquired MAG.