OHA is Lead Left Arranger of Private Unitranche Financing Supporting Acquisition of Farsound by Onex
Rhea-AI Summary
Oak Hill Advisors (OHA) has acted as Lead Left Arranger for a private unitranche facility supporting Onex's acquisition of Farsound Aviation. Farsound, a leading global supply chain solutions provider for the aerospace engine maintenance, repair and overhaul (MRO) market, will benefit from OHA's extensive aerospace sector knowledge. Alexis Atteslis, Co-Head of Europe and Partner at OHA, highlighted Farsound's strong management team and unique business model, expressing confidence in the company's growth potential under Onex's strategic guidance.
Positive
- Strategic acquisition in the growing aerospace MRO market
- Backing by experienced private equity firm Onex enhances growth prospects
- Secured private unitranche financing demonstrates market confidence
Negative
- None.
Insights
This private unitranche financing deal represents a significant transaction in the aerospace MRO sector. The involvement of Onex, a major private equity player and OHA as the lead arranger indicates substantial deal value, though specific terms aren't disclosed. The strategic importance lies in Farsound's position in the aerospace engine MRO supply chain, a sector experiencing growth due to increasing air travel and aging aircraft fleets requiring maintenance.
The unitranche structure combines senior and junior debt into a single facility, typically offering more flexible terms and potentially higher leverage than traditional bank financing. This deal structure suggests a strong belief in Farsound's cash flow generation capabilities and growth prospects in the aviation aftermarket sector.
London, United Kingdom, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Lead Left Arranger for a private unitranche facility supporting the acquisition of Farsound Aviation Limited (“Farsound”) by private equity sponsor Onex. Farsound is a leading global supply chain solutions provider for the aerospace engine maintenance, repair and overhaul (“MRO”) market. OHA’s extensive knowledge of the aerospace sector and experience from previous investments in the industry enabled it to play a key role in this LBO financing solution.
“With its best-in-class management team and unique business model, supported by Onex’ extensive experience and strategic presence in the industry, we believe Farsound is well-positioned to continue its strong growth trajectory,” said Alexis Atteslis, Co-Head of Europe and Partner at OHA. “With this financing, we continue to grow our European private credit business, leading transactions and providing flexible, tailored capital solutions.”
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About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately
With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.
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