10/26/2015
Citizens Bank leads $80 million senior secured credit facility in Aviation Technical Services, Inc. deal
JLL Partners to acquire Everett, WA-based aircraft maintenance and repair company
SEATTLE – Citizens Bank announced today that it is leading an $80 million senior secured credit facility as part of the acquisition of Everett, WA-based Aviation Technical Services, Inc., by New York private equity firm JLL Partners, Inc.
“Citizens was a valuable financial and strategic partner on the ATS transaction,” said Kevin Hammond, Partner of JLL Partners, Inc. “Citizens’ Aerospace, Defense and Government Services team brings great ideas to the table and excels at execution. We look forward to working more with Citizens in the future.”
Aviation Technical Services, Inc. was founded in 1970 and has grown to become one of the largest third-party transport aircraft maintenance, repair and overhaul providers in North America.
Founded in 1987, JLL Partners is a private equity firm focused on middle-market companies.
“We’re excited to be able to offer our industry expertise to help the management teams at JLL Partners and Aviation Technical Services achieve their strategic and financial goals,” said Leslie Grizzard, Head of the Aerospace, Defense & Government Services Banking Group at Citizens.
With over 20 years of industry experience, Citizens provides financial solutions and business building insights across the Aerospace, Defense and Government Services sectors.
In addition to a full suite of financing options and banking products, Citizens provides solutions that support customers’ long-term success, including: capital markets capabilities with access to debt and equity capital markets for restructuring, recapitalizations or corporate development; commercial financing to provide working capital, acquire fixed assets, fund equipment leases and purchases, or furnish growth capital; and comprehensive treasury management solutions that can streamline your organization’s receivables, claims and payments processes and accelerate your revenue cycle.
For more information, visit the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $135.4 billion in assets as of September 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
