Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, closed a $90 million senior secured term loan facility with Astronics, an aerospace electronics corporation that provides advanced technologies to the world’s aerospace, defense and other mission critical industries.
Great Rock Capital served as the lead arranger for the term loan and partnered with the revolver agent, a leading commercial banking institution, to create a financing structure that will maximize the company’s liquidity. Blue Torch Capital partnered with Great Rock in the term loan facility.
“We are excited about our new financial partnership with Great Rock. Their team really understood the intrinsic value of our business model and created a financial solution that maximized the value of our fixed assets,” Peter Gundermann, chairman, president and CEO of Astronics, said. “This additional liquidity will allow us to capitalize on opportunities to accelerate our growth as the aerospace and other critical industries we serve continue to rapidly emerge from Covid-19.”
“We are proud to partner with the entire Astronics team as they continue to develop cutting edge technologies and mission-critical products for the company’s widely diversified customer base,” Stuart Armstrong, CEO of Great Rock Capital, said. “Astronics is on a clear long-term growth trajectory, and we are excited to play a role in their continued success.”
