Great Rock Capital Closes $20 Million Credit Facility with Jet East
Provides liquidity to drive growth and market expansion
Westport, CT – January 18, 2023 — Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a $20 million senior secured credit facility with Jet East, a Gama Aviation Company. Jet East is one of the nation’s leading aviation maintenance providers for scheduled maintenance, unscheduled on-demand mobile maintenance, and related services in the areas of structural and component repairs, composite work, non-destructive testing, and paint capabilities.
The bespoke facility, which includes a revolver, a term loan, and a delayed draw term loan, will provide the company with growth capital and support business acquisitions. The credit facility has a total potential borrowing capacity of up to $26.5 million, subject to certain conditions.
“We are very excited about the financial partnership with Great Rock. The customized financial arrangement allows Jet East to execute on our excellent near and longer-term growth strategies,” stated Francis John, Executive Chairman. “Further, as a result of this transaction, Jet East will be able to expand its established nationwide leadership position in the business aviation maintenance industry.”
“The Jet East leadership team has built an industry-leading platform by providing their customers with first-class service,” said Stuart Armstrong, CEO of Great Rock Capital. “Their expansion opportunities will accelerate the continued growth of this business and we look forward to being part of their ongoing success.”
About Jet East, A Gama Aviation Company
Jet East, A Gama Aviation Company, is one of the nation’s leading aviation maintenance providers. The company specializes in scheduled maintenance, on-demand mobile maintenance for unscheduled events, paint and interior completions and provides related services in the areas of structural repairs, composite work, and non-destructive testing (NDT). With a deeply talented workforce, Jet East is available to meet customer maintenance needs with on-demand service and coast to coast coverage in the U.S. and in certain international markets. An expansive AOG Mobile Maintenance team operates with a 24/7 Dispatch Team and compliments the company’s maintenance hangars in New York, New Jersey, Florida, Texas, California, Illinois, and Nevada.