Global investment firm The Carlyle Group and family-owned aerospace company NORDAM today announced that The Carlyle Group has agreed to make an equity investment in The NORDAM Group, Inc., an aerospace manufacturing and repair company. Carlyle’s equity, along with new debt financing, will fund NORDAM’s exit from Chapter 11, de-lever the business and position the company for continued growth. The Siegfried family will retain its 50-year ownership and oversight of the business, and continue to lead the company forward. Carlyle’s equity will come from Carlyle Strategic Partners IV L.P.
Founded in 1969 by the Siegfried family’s late patriarch, aerospace-industry leader Ray Siegfried II, NORDAM is an aerospace manufacturer and provider of critical maintenance, repair and overhaul services to the business, commercial and military aviation end-markets. With highly differentiated composites capabilities, NORDAM is committed to the superior performance and quality of its products as well as its customer-centric approach to MRO services. The company provides services to a global customer base through its nine strategically-located operations and customer support facilities on three continents.
“This is an important milestone for NORDAM as we exit Chapter 11 and embark on our next chapter of growth,” said Meredith Siegfried Madden, Chief Executive Officer of NORDAM. “We are thrilled to partner with Carlyle and look forward to working together to continue providing world-class products and services to our valued customers and enhancing flight safety globally. With Carlyle’s deep industry, operational and financial expertise, we believe we will be well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead.”
Shary Moalemzadeh, Managing Director and Co-Head of Carlyle Strategic Partners, said, “We are excited to partner with NORDAM’s outstanding management team and support the high-quality business they have built over the past 50 years. NORDAM has a stellar reputation for providing industry-leading products and services across global aviation end-markets. With this investment and the support of Carlyle’s global platform, we are confident that the company will have the right capital structure and resources to continue its legacy as a best-in-class aerospace manufacturer and provider of MRO services.”