Blackstone Credit & Insurance Announces Over $1 Billion in New Financings to Support Recapitalization of Jet Support Services, Inc., a Portfolio Company of GTCR and Genstar Capital
Blackstone Inc. (BX)
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Blackstone Credit & Insurance (“Blackstone”) and Jet Support Services, Inc. (“JSSI”) today announced over $1 billion in new financings to support the recapitalization of JSSI, the world’s largest independent provider of hourly cost maintenance programs for business aircraft engines, auxiliary power units, and airframes. Funds managed by Blackstone have now provided over $1.8 billion of debt financing and an investment in the common equity in a series of financings for JSSI, a portfolio company of leading private equity firms GTCR and Genstar Capital.These strategic financings will enable JSSI to strengthen its capital structure, enhance its operational capabilities and continue its growth trajectory in the business aviation sector. Blackstone has been a long-time investor in JSSI since 2015, and these transactions exemplify the firm’s commitment to growing with companies in its credit portfolio.“JSSI has consistently demonstrated its leadership in the av
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