Milbank LLP represented Morgan Stanley, Royal Bank of Canada and Deutsche Bank, in their capacities as joint lead arrangers and joint bookrunners, in connection with the financing of American Industrial Partners’ $540 million acquisition of L3 Technologies’ Vertex Aerospace businesses.
Vertex Aerospace is comprised of three distinct businesses that provide aircraft technical support and integrated supply chain management services, aero‐structures modification and fabrication services, and assembly and engineering solutions for both fixed and rotary‐wing aircraft. The aerospace services division, Vertex, provides various aircraft maintenance, integrated supply chain management, aviation flight training, and aviation logistics services. Crestview provides aerostructure detail fabrication, aircraft modifications, major assembly and depot‐level maintenance for key OEM and government customers, and TCS provides agile, quick‐reaction design engineering and systems integration of avionics, data links, self‐protection and mechanical system upgrades for military aircraft and develops the corresponding technical manuals.
The Milbank Global Leveraged Finance team was led by partner Marc Hanrahan and associates Spencer Pepper, Faridat Arogundade and Anna Zauner.
