TCF Capital Funding has provided $7 million of secured financing to support the acquisition of Ascent Aviation Services Corporation, a portfolio company of Victory Park Capital, by LongueVue Capital Partners.
Ascent Aviation Services is a Federal Aviation Administration licensed provider of maintenance, repair, and overhaul services for multiple platforms of aircraft. Ascent specializes in heavy maintenance, teardown, storage, and line maintenance services. The company’s facilities are located at Tucson International Airport and the company is headquartered in Tucson (www.ascentmro.com).
“We are pleased to partner with the Ascent and LongueVue,” said TCF Capital Funding Senior Vice President Thomas Karle. “We look forward to supporting the company as it goes through its next stage of expansion.”
TCF Capital Funding provides asset-based loans and private equity sponsor-backed cash flow loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA. The firm is led by Joseph Gaffigan, President, and is based just outside Chicago in Burr Ridge, IL (www.tcfcapitalfunding.com).
LongueVue Capital makes equity and debt investments in lower middle market companies that have up to $100 million of revenue. Sectors of interest include manufacturing, business services, energy services, and third party logistics. The firm was founded in 2001 and is based in New Orleans with additional offices in New York and Salt Lake City (www.lvcpartners.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-9-14