NXT Capital announced that it has provided a senior secured credit facility to support the refinancing of Sunvair Aerospace Group, Inc., a portfolio company of Blue Sea Capital.  The transaction also included Sunvair’s acquisition of Aviation Avionics & Instruments Inc. (“AAIC”)

NXT Capital acted as the sole lead arranger, sole bookrunner and administrative agent for this transaction. 

Headquartered in Valencia, CA, Sunvair Aerospace Group provides component MRO services to commercial, regional and military aircraft operators and has a reputation for high quality service, unique repairs and rapid turnaround. Sunvair repairs and overhauls landing gear and related components through its subsidiary, Sunvair, Inc., which was founded in 1956. The recent acquisition of AAIC adds specialized capabilities in the repair of accessories, including avionics, flight instruments, pressure sensing components and environmental control systems. AAIC is known for its strong engineering and unique repairs that often extend component life and reduce costs for aircraft operators.

“NXT Capital moved quickly by providing a term sheet early in the process,” said Scott Kirkendall, principal, Blue Sea Capital. “Equally important, NXT delivered on those terms when the deal closed.”

Blue Sea Capital is a private equity firm based in West Palm Beach, Florida, with an office in El Segundo, California, that invests in growth-oriented lower middle market companies valued up to $200 million. The firm has $327 million in assets under management and invests primarily across three industry verticals: aerospace & defense, healthcare and industrial growth.

NXT Capital provides structured financing solutions through its Corporate Finance, Equipment Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Charlotte, Dallas, Los Angeles, Nashville, New York, Phoenix, San Francisco and Stamford.