Southern Air to get new credit facility with buyout by Oak Hill

By Sara Rosenberg

New York, July 26 - Southern Air Inc. is planning on getting a new credit facility to help fund its buyout by Oak Hill Capital Partners, according to a news release.

CIBC is the lead bank on the deal.

Subsequent to the closing of the transaction, Southern Air will be combined with Cargo 360, Inc., an existing Oak Hill portfolio company. The combined company will be named Southern Air Holdings, Inc.

The transaction is expected to close in September.

Southern Air is a Norwalk, Conn., provider of air cargo services to airlines.

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