Miles Jamison
AllClear Aerospace & Defense has closed a consensual restructuring that aims to enhance its financial position and support the next phase of growth.
The global distributor of military aircraft aftermarket components said Monday the comprehensive recapitalization deleverages its balance sheets and incorporates new funds from senior lenders. Aside from providing new financing, these global financial institutions will also have majority ownership of the Miramar, Florida-based company.
AllClear’s financial stakeholders unanimously approved the restructuring and transfer of ownership. The move also obtained all necessary U.S. government regulatory approvals.
AllClear Leadership Change
Following the transaction, a new set of leaders was appointed to guide the company during this transition stage. James Marceau, a 30-year aerospace industry veteran, will spearhead AllClear as the interim CEO. Greg Beason, the company’s CEO since 2021, will serve as senior adviser.
A new board of directors has also been appointed. Jame Donath, a seasoned investor and adviser with two decades of industry experience, is the new chairman of the board, while Ian Reason, former senior vice president of the Barnes Group, was named board director.
“The closing of the consensual restructuring marks a critical milestone in AllClear’s growth trajectory. The additional financial support being provided by the Senior Lenders as part of the recapitalization is a clear vote of confidence in the company’s business model and ongoing transformation plan,” said Donath.
“The company has earned a solid reputation over many years as a trusted partner to military institutions who rely on our quality, responsiveness and breadth of product and capabilities,” stated Marceau.
