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TYPE: Acquisition Financing
STRUCTURE: Minority Equity and Mezzanine Capital
DATE: 2016
LOCATION: Seattle, WA
$10,000,000
An Oklahoma-based independent sponsor was seeking capital to effectuate the acquisition of an aerospace engineering firm focused on the development, certification and supply of certified performance improvement systems for commercial and general aviation aircraft worldwide. The independent sponsor brought significant value through their extensive aerospace experience, a solid operational track record and meaningful skin in the game in the form of cash equity invested.
Congruent structured a $10,000,000 investment comprising a second lien term loan and an equity co-investment, providing significant flexibility in order to reduce the debt service burden on the business and instead allow for future excess cash flow to be reinvested for growth. Congruent’s prior expertise across multiple aerospace transactions was value-add throughout the underwriting process.