Next Level Aviation Secures $50 Million Revolving Credit Facility with PNC Bank to Fuel Growth and Diversification Plans
Next Level Aviation, a leading global supplier of used serviceable materials (USM) for commercial aircraft and jet engines, has secured a significant financial boost to support its growth and diversification plans. The company has entered into a $50 million revolving credit facility with PNC Bank, one of the largest diversified financial services institutions in the United States.
This new working capital credit facility is designed to help Next Level Aviation expand its existing USM distribution business and diversify its product and service offerings. The facility has the potential to be expanded over time as the company grows, providing a solid financial foundation for its next phase of growth.
Next Level Aviation specializes in stocking and distributing USM for all Boeing and Airbus commercial aircraft platforms and their associated jet engines, with a particular focus on the Boeing 737 and Airbus A320 families of aircraft, which currently make up about 70% of the global commercial fleet. The company has built a reputation globally as a ‘center of excellence’ on engine accessories and has developed a comprehensive suite of services to support airlines, leasing companies, OEMs, and MROs.
The new credit facility will enable Next Level Aviation to increase its inventory of serviceable materials and support the diversification of its business into other complementary lines of business. This strategic move is expected to enhance the company’s ability to deliver high-quality USM to its customers and further solidify its position as a trusted link in the supply chain.
Jack Gordon, Chairman and CEO of Next Level Aviation, expressed his satisfaction with the new partnership, stating, “We are extremely pleased to work with PNC Bank, one of the largest diversified financial services institutions in the United States, to close this new working capital credit facility. This is the first step in laying the financial foundation for Next Level Aviation’s next phase of growth.”
Ray Fernandez-Andes, Chief Financial Officer of Next Level Aviation, also commented on the new relationship, saying, “We are very excited about our new business relationship with PNC Bank and are looking forward to continuing to grow the business for many years to come with the support of this great financial institution.”
Peter Mardaga, Head of PNC Business Credit, emphasized the bank’s commitment to supporting Next Level Aviation’s business goals and growth needs, stating, “PNC’s new relationship with Next Level Aviation will support the company’s business goals and growth needs. We look forward to continuing to provide this recognized global supplier of aerospace parts with financial products and strategies that can help deliver differentiated value to its customers.”
Next Level Aviation is an ASA-100 accredited and FAA Advisory Circular 00-56B compliant supplier, ensuring the highest standards of quality assurance and regulatory compliance. The company’s dedication to superior customer service, impeccable quality assurance, and a performance-driven culture has positioned it as a leading global supplier of USM for commercial aircraft and jet engines.
With this new credit facility, Next Level Aviation is poised to further expand its operations and enhance its offerings to meet the evolving needs of the aerospace industry. The company’s strategic partnership with PNC Bank underscores its commitment to delivering high-quality USM and exceptional customer service, solidifying its position as a trusted partner in the supply chain.