OHA is Lead Left Arranger of Private Unitranche Financing Supporting Acquisition of Farsound by Onex

Rhea-AI Summary

Oak Hill Advisors (OHA) has acted as the Lead Left Arranger for a private unitranche facility supporting Onex's acquisition of Farsound Aviation . Farsound is a leading global supply chain solutions provider for the aerospace engine maintenance, repair and overhaul (MRO) market.

OHA's extensive knowledge of the aerospace sector and previous investment experience in the industry were key factors in structuring this LBO financing solution. Alexis Atteslis, Co-Head of Europe and Partner at OHA, expressed confidence in Farsound's growth potential, citing its best-in-class management team and unique business model, coupled with Onex's industry expertise.

This transaction marks a continuation of OHA's growth in the European private credit business, demonstrating its ability to lead transactions and provide flexible, tailored capital solutions.

Positive

• OHA's role as Lead Left Arranger showcases its strong position in the private credit market
• Acquisition of Farsound by Onex indicates potential for business growth and expansion
• OHA's expertise in the aerospace sector adds value to the financing solution
• Transaction contributes to OHA's growth in the European private credit business

Negative

• None.

News Market Reaction

-0.96%

1 alert

-0.96% News Effect

On the day this news was published, TROW declined 0.96%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

London, United Kingdom, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Lead Left Arranger for a private unitranche facility supporting the acquisition of Farsound Aviation Limited (“Farsound”) by private equity sponsor Onex. Farsound is a leading global supply chain solutions provider for the aerospace engine maintenance, repair and overhaul (“MRO”) market. OHA’s extensive knowledge of the aerospace sector and experience from previous investments in the industry enabled it to play a key role in this LBO financing solution.

“With its best-in-class management team and unique business model, supported by Onex’ extensive experience and strategic presence in the industry, we believe Farsound is well-positioned to continue its strong growth trajectory,” said Alexis Atteslis, Co-Head of Europe and Partner at OHA. “With this financing, we continue to grow our European private credit business, leading transactions and providing flexible, tailored capital solutions.”

###

About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately $65 billion of capital across credit strategies, including private credit, high yield bonds, leveraged loans, stressed and distressed debt and collateralized loan obligations as of June 30, 2024. OHA’s emphasis on long-term partnerships with companies, sponsors and other partners provides access to a proprietary opportunity set, allowing for customized credit solutions across market cycles.

With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.

FAQ

What role did Oak Hill Advisors play in the acquisition of Farsound by Onex?

Oak Hill Advisors (OHA) served as the Lead Left Arranger for a private unitranche facility supporting Onex's acquisition of Farsound Aviation

What is Farsound's main business focus?

Farsound is a leading global supply chain solutions provider for the aerospace engine maintenance, repair and overhaul (MRO) market.

How does this transaction impact OHA's European private credit business?

This transaction contributes to the growth of OHA's European private credit business, demonstrating its ability to lead transactions and provide flexible, tailored capital solutions.

Who commented on the acquisition from OHA, and what did they say?

Alexis Atteslis, Co-Head of Europe and Partner at OHA, commented on the acquisition, expressing confidence in Farsound's growth potential due to its best-in-class management team, unique business model, and Onex's industry expertise.