Wesco Aircraft plans $525 million term loan B for Haas purchase

By Sara Rosenberg

New York, Jan. 31 - Wesco Aircraft Holdings Inc. has received a commitment for a new $525 million term loan B to help fund its acquisition of Haas Group Inc., according to an 8-K filed with the Securities and Exchange Commission on Friday.

Bank of America Merrill Lynch is the lead bank on the deal.

The company's existing credit facility will need to be amended to provide for the new term loan B.

Under the agreement, Wesco is buying Haas for $550 million in cash, subject to certain closing adjustments, from The Jordan Co. LP.

Other funds for the transaction will come from cash on hand and borrowings under the company's existing revolving credit facility.

Closing is expected by the end of this quarter, subject to customary conditions.

Wesco is a Valencia, Calif.-based provider of comprehensive supply chain management services to the aerospace industry. Haas is a West Chester, Pa.-based provider of chemical supply chain management solutions to the commercial aerospace, airline, military, energy and other markets.

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