National Technical Systems (NASDAQ: NTSC) is a provider of engineering services to the aerospace, defense, telecommunications, automotive and high technology markets. Services provided include design engineering, compliance, testing, certification, quality registration and program management. The company was founded in 1961 and is based in Calabasas, CA (www.nts.com).
“Golub Capital provided an outstanding financing execution to support our investment in NTS,” said Michael Marino, Partner of Aurora Capital Group. “We have been working hard on this transaction for many months, and Golub supported our efforts throughout the process. We are thrilled to have a flexible and scalable financing solution in place that is tailored to grow alongside NTS and support its many strategic and operational initiatives.”
Aurora Capital focuses principally on control investments in middle-market industrial, manufacturing and service oriented businesses. The firm, founded in 1991, has $2 billion of capital under management and is headquartered in Los Angeles (www.auroracap.com).
“We are excited to support Aurora’s investment in NTS. We believe NTS is a unique platform in an attractive space with an extraordinary management team,” said Troy Oder, Managing Director at Golub Capital. “We value Aurora’s deep industry expertise and disciplined approach to investing, and we are thrilled to close our second transaction alongside them this year.”
Earlier this year, Golub Capital was the Sole Bookrunner and Administrative Agent on a $153 million financing to support the acquisition of Competitrack, a provider of advertising tracking services, by Market Track, a portfolio company of Aurora Capital.
Golub offers buy-and-hold products ranging from $10 million to $75 million and includes one-loan financings, senior, 2nd lien and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates first lien loans up to $300 million. Golub Capital will hold up to $250 million per transaction. Industries of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub has offices in New York and Chicago (www.golubcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-2-13