Next Level Aviation® Completes Buyout of Turning Rock Partners in 2025
Next Level Aviation® Completes Recapitalization with Turning Rock Partners
Next Level Aviation® (NLA), a prominent leader in the global distribution of usable service materials (USM) for all commercial Boeing and Airbus aircraft, is preparing to finalize the buyout of Turning Rock Partners' (TRP) equity investment. This major step is slated for completion by June 30, 2025, signaling a new chapter for NLA.
In late 2024, NLA made its first significant payment towards this acquisition, solidifying a partnership that has thrived under challenging circumstances, particularly due to the impact of the COVID-19 pandemic on the aviation sector. Jack Gordon, CEO of NLA, expressed his enthusiasm in securing this buyout agreement. He acknowledged the invaluable support TRP has provided over the last five years, a time marked by unprecedented operational challenges.
Gordon conveyed his gratitude not only to TRP for their financial assistance but also to PNC Bank, which facilitated the asset-based lending flexibility crucial for this management-led recapitalization. With this deal, NLA’s founders will regain complete ownership, allowing them to reassess the company’s capital needs before selecting a new preferred partner to propel further growth.
John Hamilton, COO of Turning Rock, praised NLA for demonstrating agility and resilience throughout the past few years, underscoring the commitment of its founders. He expressed pride in TRP's role in supporting NLA’s endeavors and extended best wishes for their future success.
About Next Level Aviation®
Founded in March 2013 by Jack Gordon, Mike Dreyer, and Matt Dreyer, Next Level Aviation has established itself as a major player in the aviation industry. The company is ASA-100 accredited and operates in compliance with FAA Advisory Circular 00-56B. NLA specializes in stocking usable service materials for commercial planes and associated jet engines, focusing primarily on Boeing 737 and Airbus A320 families, which currently account for about 70% of the global commercial fleet.
Their commitment to excellence has made them a go-to supplier for airlines looking to enhance the reliability and efficiency of their fleets. This recent move to recapitalize emphasizes NLA's strategic intent to strengthen its position in a competitive market, while also preparing for future growth opportunities.
About Turning Rock Partners
Turning Rock Partners targets investments across debt, equity, and hybrid structures, specifically in underrepresented or capital-constrained mid-lower market companies throughout North America. They focus on custom financing solutions that cater to the diverse needs of enterprises across the private market landscape.
Turning Rock's approach exemplifies a commitment to empowering businesses that can benefit from their financial strategies. Besides this partnership with NLA, TRP continues to strengthen its investment portfolio, aiding businesses in overcoming financial challenges and achieving sustainable growth.
The future looks promising for both Next Level Aviation® and Turning Rock Partners, as they navigate the evolving landscape of the aviation industry and private equity investments, respectively. With strong leadership and strategic planning, both companies are poised to capitalize on emerging opportunities in the market.