Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, closed a $20 million senior secured credit facility with Jet East, a Gama Aviation Company. Jet East is an aviation maintenance provider for scheduled maintenance, unscheduled on-demand mobile maintenance and related services in the areas of structural and component repairs, composite work, non-destructive testing and paint capabilities.
The bespoke facility, which includes a revolver, a term loan and a delayed draw term loan, will provide the company with growth capital and support business acquisitions. The credit facility has a total potential borrowing capacity of up to $26.5 million, subject to certain conditions.
“We are very excited about the financial partnership with Great Rock. The customized financial arrangement allows Jet East to execute on our excellent near and longer-term growth strategies,” Francis John, executive chairman at Jet East, said. “Further, as a result of this transaction, Jet East will be able to expand its established nationwide leadership position in the business aviation maintenance industry.”
“The Jet East leadership team has built an industry-leading platform by providing their customers with first-class service,” Stuart Armstrong, CEO of Great Rock Capital, said. “Their expansion opportunities will accelerate the continued growth of this business and we look forward to being part of their ongoing success.”
