The NORDAM Group LLC (“NORDAM” or the “Company”) announced it repaid the remaining outstanding principal amount of its Term Loan B issued on 9 April 2019. The instrument was refinanced by the issuance of a new $225mm private credit term loan, due 2031. The new term loan was provided by a group of lenders led by Crestline Investors, Inc. with Crestline Direct Finance, L.P. serving as the Administrative Agent. JPMorgan Chase Bank, N.A. and Huntington Business Credit, arranged the facility as Joint Lead Arrangers and Bookrunners. Additionally, the Company entered into a new $100mm ABL revolving credit facility, due 2030, provided by JPMorgan Chase Bank, N.A. and Huntington Business Credit.
“This is an important milestone for NORDAM as we embark on our next chapter of growth,” said NORDAM CEO Meredith Siegfried Madden. “We are pleased to secure backing from Crestline and additional lending investors and look forward to providing world-class products and services to our valued customers. With Crestline’s partnership, we believe we are well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead.”
Michael Aingorn, Senior Managing Director at Crestline Investors, Inc. commented, “We are impressed by NORDAM’s strong position in the aerospace value chain and are excited to partner with Meredith and her team to support the Company’s future growth. We believe that NORDAM’s manufacturing expertise and deep customer relationships position the Company well to capitalize on the continued growth in the aerospace industry.”
NORDAM was advised by Davis Graham & Stubbs LLP. Paul Hastings LLP served as legal advisor to Crestline Investors, Inc. while Simpson Thatcher & Bartlett LLP advised JPMorgan Chase Bank, N.A. and Huntington Business Credit.
ABOUT NORDAM
Founded in 1969 on family values and now employing 2,500 people across multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is one of the largest independently owned aerospace companies. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures and spacecraft components, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more at NORDAM.com.
ABOUT CRESTLINE INVESTORS
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
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