Next Level Aviation® Finalizes Agreement with Turning Rock Partners for Preferred Equity Redemption

Next Level Aviation® Completes Redemption of Turning Rock Partners' Equity Investment

Next Level Aviation® (NLA), a prominent name in the global distribution of used serviceable materials (USM) for Boeing and Airbus commercial aircraft, has announced a significant development regarding its relationship with Turning Rock Partners (TRP). The company has entered into an agreement to fully redeem TRP's 2019 preferred equity investment by June 30, 2025. This move marks a crucial step in NLA's financial strategy, particularly after a challenging operational period during the COVID-19 pandemic.

Redemption Agreement Details

In December 2024, NLA made its initial substantial payment as part of the redemption agreement with TRP. NLA's Chairman and CEO, Jack Gordon, expressed his satisfaction with reaching this pivotal agreement, highlighting the invaluable support that TRP has provided over the past five years. Gordon acknowledged the difficulties faced during one of the most testing times for the aviation industry, particularly due to the pandemic's impact on global air travel.

"We are extremely pleased to reach this redemption agreement with Turning Rock Partners and are greatly appreciative of their financial and operational support over the last five years," said Gordon. He extended his best wishes to TRP as they move forward with their investment portfolio.

The Future of NLA

After the completion of this redemption, full ownership of Next Level Aviation will revert to its founding members. This transition is viewed as an opportunity for NLA to reassess its equity requirements going forward. The management team plans to evaluate their options carefully to determine the best path for securing a new preferred equity partner to continue their growth trajectory.

Gordon also extended gratitude to PNC Bank for their support, which provided the necessary asset-based lending flexibility crucial for this management-led recapitalization initiative.

Insights from Turning Rock Partners

On the other side of this partnership, John Hamilton, Chief Operating Officer at TRP, commended NLA for its agility and determination in navigating the complexities of the past five years. Hamilton noted that TRP is proud to have played a role in NLA's success and wished the company and its founders much success in their future endeavors.

About Next Level Aviation®

Established in March 2013, Next Level Aviation is an ASA-100 accredited supplier recognized for its adherence to FAA Advisory Circular guidance. The company specializes in providing used serviceable materials for Boeing and Airbus aircraft, with a particular focus on the Boeing 737 and Airbus A320 models, which constitute a substantial portion of the global commercial fleet.

NLA has positioned itself as a leading supplier in this competitive field, underpinned by its commitment to quality and customer service. For more information, visit their official website at www.nextlevelaviation.net.

About Turning Rock Partners

Turning Rock Partners (TRP) is an investment firm that focuses on providing bespoke financing solutions for lower-middle-market businesses in North America. The firm is dedicated to structuring tailored debt, equity, and hybrid investments to support companies that are often underserved by traditional capital providers. For further details, you can access their website at www.turningrockpartners.com.

As the aviation sector continues to recover, Next Level Aviation is also poised for future growth, marking an exciting chapter not only for the company but for the aerospace materials sector as a whole.