[Miami, Fla., March 2023] – Precision Aerospace Group (PAG) proudly announces the successful retirement of all senior debt facilities, marking a significant milestone in the company’s restructuring efforts and paving the way for future growth opportunities. With a clean slate and strengthened financial position, PAG is poised to capitalize on new prospects and drive innovation within the Aerospace, Defense, and Space industries.
Jennifer Haskins, acting CFO of Precision Aerospace Group, commented on the achievement, stating, “With the assistance of TAP Financial Partners, we have executed a strategic balance sheet restructuring that liberates working capital and unlocks fresh avenues for funding. This pivotal step sets the stage for our continued expansion and positions us for sustained success in the competitive marketplace.”
The collaboration with TAP Financial Partners has been instrumental in achieving this milestone, allowing PAG to work closely with its lenders to devise a comprehensive solution to retire the senior debt outstanding. TAP’s expertise proved invaluable in negotiating the retirement of the facility, which was upwards of $8 million. This strategic move not only alleviates financial burdens but also provides a springboard for organic growth and enhances the company’s financial standing, opening doors to previously inaccessible financing and investment opportunities.
Bob Press, Managing Partner of TAP Financial Partners, emphasized the significance of this achievement, stating, “Prior to retiring the senior debt facility, Precision Aerospace Group faced constraints on cash flow and limited avenues for growth capital. With this restructuring, PAG now operates from a position of strength with improved financial metrics and enhanced access to diverse capital sources. This positions them favorably for continued growth and innovation in the industry.”
About Precision Aerospace Group:
Precision Aerospace Group, Inc. is a leading provider of products and value-added services to the Aerospace, Defense, and Space industries worldwide. Founded with a vision to enhance support markets for these industries, PAG offers unparalleled service offerings and capabilities to its customers. For more information, visit www.precisionaerospacegroup.com.
About TAP Financial Partners:
TAP Financial Partners is a boutique merchant bank offering advisory, restructuring, debt, and equity fundraising services, as well as up-listing advice to small and mid-sized enterprises. With a focus on providing tailored financial solutions and strategic guidance, TAP Financial Partners assists clients in achieving their growth objectives. For more information, visit www.tap-partners.com.For more information on this acquisition and TAP Financial Partners’ services, please visit www.tap-partners.com or contact info@tap-partners.com.
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