Wesco Aircraft Holdings Closes Acquisition of Haas Group Inc.

VALENCIA, Calif.—(BUSINESS WIRE)—Wesco Aircraft Holdings, Inc. (“Wesco” or the “Company”) (NYSE: WAIR), a leading provider of comprehensive supply chain management services to the global aerospace industry, today announced that it has completed the acquisition of Haas Group Inc. (“Haas”) from certain investment funds affiliated with The Jordan Company, L.P., pursuant to the definitive agreement announced by the Company on January 30, 2014.

The acquisition of Haas was funded by a combination of a new $525 million term loan B facility (the “Term Loan B”) that was added to the Company’s existing senior secured credit facilities, a $40 million draw under Wesco’s existing revolving credit facility and cash from the Company’s balance sheet.

The Term Loan B has been provided by a group of lenders led by BofA Merrill Lynch acting as lead arranger, and Barclays Bank PLC, Morgan Stanley Senior Funding Inc. and RBC Capital Markets acting as joint book runners. The Term Loan B will carry a variable rate of interest based on, at the option of the Company, either a base rate or the Eurocurrency rate plus, in each case, an applicable margin. The applicable margin for the new Term Loan B is 1.50% for base rate loans (with a base rate floor of 1.75%), and 2.50% for Eurocurrency rate loans (with a Eurocurrency rate floor of 0.75%). The new Term Loan B will mature on February 28, 2021.

Haas is a leading global provider of chemical supply chain management (“CSCM”) solutions to the commercial aerospace, airline, military, energy, and other markets. Haas is headquartered in West Chester, PA, with over 1,300 employees and 35 distribution hubs, forward stocking locations and facilities around the world. Haas will operate as a wholly-owned subsidiary of the Company.

Randy Snyder, Chairman and CEO of Wesco said, “The dynamic combination of Wesco and Haas gives us terrific opportunities to expand our global presence and provide additional value-added services and products to our existing customers as we compete for and win new business. Through our collaboration with Haas, we now provide value-added services along with aircraft hardware, electrical components, machined parts, bearings and chemicals that are necessary to build and maintain aircraft, all on a global scale. Combining these capabilities with our relentless drive to improve processes and our focus on customer service and quality reinforces our commitment to create value for our customers and shareholders.”