Killick Aerospace's $160 million financing includes expanded facility

By Susanna Moon

Chicago, Aug. 9 - Killick Aerospace completed a series of financings totaling $160 million, which included a new and enlarged senior banking facility led by the Bank of Nova Scotia's asset lending group - Roynat Asset Finance.

Frost Bank (Capital Group) and PNC Bank, NA are also lenders.

The company also received a subordinated loan from Killick Capital and a partnership investment by Alaris Royalty Corp. in Killick Capital.

Proceeds will be used to retire debt as well as fund continued growth at Prime Turbines, CT Aerospace and Kansas Aviation.

"The significant increase in our balance sheet will allow us to acquire more inventories including whole engines and aircraft to better serve our customers. It will also allow us to continue to invest in product development at our Prime and Kansas subsidiaries," Russell Starr, president and chief executive officer of Killick, said in a press release.

"Additionally, Killick Aerospace is pursuing selected complementary acquisitions to further enhance our total package of products and services."

Killick is a Dallas-based overhaul facility specializing in the Pratt & Whitney Canada PT6A engine series.

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