VCSA Holding Corp. (“VCSA”) recently completed their acquisition, from US Aviation Investment Inc. Limited, the seller, of all of the issued and outstanding capital stock of DAE U.S., Inc., a Delaware corporation (“DAE”), and the refinancing of DAE Aviation Holdings, Inc.’s and Standard Aero Limited’s existing credit facilities. DAE is the owner of Standard Aero Limited, one of the world aerospace industry’s largest independent maintenance, repair and overhaul (MRO) providers.
The transaction was financed by a $150 million asset-based revolving credit facility provided by a syndicate of lenders led by Bank of America, N.A., a senior secured term loan credit facility provided by a syndicate of lenders led by Jefferies LLC, the issuance of secured unsecured notes and a cash common equity contribution by Veritas Capital Fund V, L.P. to VCSA, DAE Aviation Holdings, Inc. and Standard Aero Limited.
Osler represented VCSA in connection with the asset-based revolving credit facility with a team including Michael Hart and Kevin Whittam (Financial Services), Gregory Wylie (Taxation) and Jonathan Marin (Pensions & Benefits).
