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Vance Street Capital recapitalizes aviation services provider


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Vance Street Capital recapitalizes aviation services provider

Vance Street Management LLC, or Vance Street Capital LLC, recapitalized aviation services provider Eirtech Aviation Services Ltd.

The firm also partnered with funds advised by Neuberger Berman Private Credit, which co-invested equity.

Financial terms were not disclosed.

Founders Niall Cunningham and Gerry O'Shea will retain a material ownership in Eirtech, while Deputy CEO David Kerr will continue to lead the business in his current role.

O'Melveny & Myers LLP and Arthur Cox served as legal advisers to Vance Street. KPMG was financial adviser and McCann FitzGerald and Cooley LLP served as legal advisers to Eirtech.

Ireland-based Eirtech provides specialist aviation services for global airlines and aircraft leasing companies.

Vance Street Capital invests in middle-market businesses in the medical, aerospace, defense and industrial sectors.