NEW YORK, March 15, 2023 — Golub Capital acted as Left Lead Arranger on a $635 million unitranche facility to finance the acquisition of Whitcraft Group (“Whitcraft”) and simultaneous acquisition of Paradigm Precision (“Paradigm”) by Clayton, Dubilier & Rice (“CD&R”) and Greenbriar Equity Group (“Greenbriar”) to form the newly created entity Pursuit Aerospace (“Pursuit”).
Pursuit, which launched earlier this month, is a global manufacturer of complex aircraft engine components developed through highly integrated processes and lean production systems.
Noah Roy, Managing Partner at Greenbriar explained, “Golub Capital has been a committed partner to Whitcraft, providing compelling financing solutions to the company over many years. Their understanding of the business and unique financing capabilities allowed them to provide a solution that was critical for the financing of Whitcraft and Paradigm Precision to form Pursuit Aerospace.”
“We have been working with Whitcraft Group’s management team for nearly 25 years,” said Chip Cushman, Managing Director at Golub Capital. “During this time, we have been able to support the business through multiple acquisitions and growth financings, leveraging the full suite of our lending capabilities and sector expertise.”
Golub Capital’s recent $635 million unitranche facility includes a $75 million revolving credit facility and $560 million term loan. The Firm has supported Whitcraft through multiple private equity owners, acquisitions, and growth financings, serving as the Administrative Agent since 2015.
About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion.
As of January 1, 2023, Golub Capital had over 775 employees and over $60 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.
About Pursuit Aerospace
Pursuit is a scaled and diversified manufacturer of tight-tolerance components used in commercial and military aircraft engines. The company operates a global network of manufacturing facilities with highly integrated processes and lean production systems. Pursuit’s unique capabilities enable it to deliver products of exceptional quality to its customers across a range of platforms and geographies.
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses across a broad range of industries, including Industrials, Healthcare, Consumer, Technology and Financial Services. Since its inception in 1978, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of more than $175 billion. For more information, please visit www.cdr-inc.com and follow the Firm’s activities through LinkedIn and @CDRBuilds on Twitter.
Greenbriar is a private equity firm with more than 20 years of experience investing in market-leading services and manufacturing businesses. With $10 billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit www.greenbriarequity.com.