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United States : TCFCF allocates $7mln to support acquisition of ASCENT AVIATION by LONGUEVUE

June 10, 2014

Chicago based TCF Capital Funding ("TCFCF"), a part of TCF National Bank, has announced the provision of $7 million of secured financing to back the purchase of Ascent Aviation Services Corporation by LongueVue Capital Partners II, LP.

Ascent, located in Tucson, Arizona, deals with heavy maintenance, teardown, storage, and line maintenance services. It is a Federal Aviation Administration licensed provider of maintenance, repair, and overhaul services for multiple platforms of aircraft.

TCF Capital Funding Senior Vice President Thomas Karle stated "We are pleased to partner with the Ascent and LongueVue. We look forward to supporting the Company as it goes through its next stage of expansion.

Founded in 2001, LongueVue Capital is a private equity group targeted on making value-oriented equity and debt investments in lower middle market firms to back buy-outs, recapitalizations, acquisitions, and growth. LVC has successfully invested in a wide variety of industries. LVC is located in New Orleans and has offices in New York and Salt Lake City.

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Source: TendersInfo (India)

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