Stellus Capital Management, LLC Provides Unitranche Financing in Support of Summit Park’s Acquisition of Elliott AviationFeb 18, 2020
Houston – TX, February 18, 2020 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing in support of Summit Park’s (“Summit Park”) investment in Elliott Aviation, LLC (“Elliott” or the “Company”), a provider of maintenance, repair and overhaul (“MRO”), fixed based operations services, and aircraft sales and brokerage services to the business aviation industry.
Headquartered in Moline, Illinois, and founded in 1936, Elliott serves as one of the business aviation industry’s most trusted brands, providing a diverse suite of services primarily to mid-cabin turboprop and business jet aircraft operators. Elliott’s one-stop MRO service offering includes airframe maintenance, avionics maintenance and upgrade, paint, interior repair and retrofit, and several other related services. This one-stop offering is critical to customers who seek to limit aircraft downtime with each maintenance visit. Elliott’s best-in-class customer service and industry-renowned brand attract a large, diverse base of aircraft operators from across North America. The Company operates out of its flagship facility in Moline, IL and other facilities in Eden Prairie, MN and Des Moines, IA.
Stephen Stites, Vice President at Summit Park said, “We appreciate the effort and flexibility Stellus showed on this transaction and look forward to continuing our strong relationship with them on future deals.”
Gavin Roseman, Managing Director at Stellus, added, “We are honored to once again support Summit Park and its investment in Elliott. We believe the Company is well positioned for its next phase of growth due to Elliott’s strong reputation in the business aviation market, focus on established platforms, experienced and deep management team, and supportive financial sponsor.”