FORT LAUDERDALE, FL. (July 15, 2015) - Sheltair Aviation, a leading aviation company operating 16 Fixed Base Operations (FBO’s) and managing over three million square feet of aviation related properties at 22 airports in Florida, Georgia and New York, closed with SunTrust Bank on a $260 million credit facility on July 15, 2015. The proceeds of the credit facility will provide additional capital for the continued expansion of Sheltair’s existing bases, future acquisitions and strategic alliances. Sheltair Aviation is privately owned, headquartered in Fort Lauderdale, Florida and employs almost 400 people across its various locations.
Sheltair Aviation CEO Jerry Holland stated, “This is a significant accomplishment for our company. The facility provides the financial resources under the optimal capital structure necessary to pursue our strategic plans for our growing network of bases.”
SunTrust Bank, as Agent and SunTrust Robinson Humphrey as sole Lead Arranger, coordinated the financing with eight participant banks.
Sheltair Aviation was represented by Damaso Saavedra of Saavedra | Goodwin, Fort Lauderdale, FL while Lenders were represented by Moore & Van Allen, PLLC, Charlotte, NC.
Warren Kroeppel, Chief Operating Officer for Sheltair Aviation said, “The lender group came together with the Sheltair Aviation team to design a facility that meets the needs of all parties. These banks have been supportive of the company for many years. Scott Holloway, our Senior VP of Capital Solutions, has been instrumental in developing these relationships for the Company over the past twelve years. We truly appreciate the long-term partnership we have enjoyed with our lenders and their confidence in the Sheltair team.”
About Sheltair Aviation
Headquartered in Fort Lauderdale, Florida, Sheltair Aviation is a privately-owned aviation development company serving the growing general aviation (“GA”) market with a comprehensive solution set including airport development, rental of hangar and office space, and the operations of FBOs. Sheltair differentiates itself from competitors by its strong construction, aviation real estate development, leasing property, and management expertise along with its exceptional safety and customer service reputation. Please visit www.sheltairaviation.com and follow us on twitter.