Vance recapitalises Eirtech

Neuberger Berman Private Credit provided debt and co-invested equity alongside Vance in the transaction.

Neuberger Berman offers equity co-investments of $15-275m per deal, and offers first and second lien, unitranche and mezzanine loans of $25-100m to companies with EBITDA of greater than $25m.

The company's founders will retain a significant stake in the company and will continue to lead it.

Previous funding
Vance acquired Leading Edge in 2012 and Associated Painters in 2013. The firm acquired Eirtech in 2014 with the intention of combining it with its two other portfolio companies. All three companies continued operating under their own brands.

Company
Headquartered in Shannon with offices in Dublin and Singapore, Eirtech provides aviation design-engineering, manufacturing and product solutions, as well as asset management and CAMO services, that ensure regulatory compliance with FAA, EASA and other local jurisdiction mandates. The company was founded in 2009.

Advisers
Equity - O'Melveny & Myers (legal); Arthur Cox (legal).
Company – KMPG (corporate finance); McCann FitzGerald (legal); Cooley (legal).

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• Topics
• Refinancing
• UK / Ireland
• Industrials
• Recapitalisation
• Ireland