NewswireToday - /newswire/ -
Laguna Hills, CA, United States, 2014/01/13 - CFA is pleased to announce that it was the exclusive advisor to Sage-Popovich, Inc. on refinancing their existing debt (NASDAQ: FMBI) - CFAW.com.
Corporate Finance Associates, Inc., an international investment banking firm providing merger, acquisition and financial advisory services, is pleased to announce that it was the exclusive advisor to Sage-Popovich, Inc. on refinancing their existing debt and establishing a new line of growth capital. Financing was provided by First Midwest Bank.
In 1979, Sage-Popovich, Inc. (SPI) began performing repossessions of commercial aircraft and has since become one of the world's largest specialist in the monitoring, recovery and sales of aircraft and aviation related equipment globally. Over the years, SPI has expanded its operations to provide asset/fleet management, valuations, inspections, asset monitoring, inventory management, liquidation, maintenance and expertise in all phases of commercial airline and charter operations - all with complete technical capabilities for the world’s largest financial institutions. Today their professionals provide support from pre-purchase through return compliance on aircraft and related equipment globally.
Sage-Popovich, Inc. was featured in the first season of Discovery Channel’s “Airplane Repo.”
“Joe brought his expertise and contacts to the table and we had several banks propose on the deal. He helped us work through the offers and select the best course for our growth and needs,” stated Nick Popovich, President of Sage Popovich, Inc.
"Corporate Finance Associates has enjoyed working with the team at Sage-Popovich. It is exciting to see what additional capital can do for such a dynamic and growing company," said Joe Contaldo, Managing Director of Corporate Finance Associates and Chairman of CFA's Aviation, Aerospace & Defense Industry Practice Group. “After discussions with lending institutions from across the country, we felt First Midwest understood the complexities of the business and would be a strong partner for years to come.”
First Midwest Bancorp, Inc. is a publicly traded bank holding company headquartered in the Chicago suburb of Itasca with a principal operating subsidiary, First Midwest Bank. First Midwest is a community bank that attracts deposits, makes loans and provides wealth management, investment, and retirement plan services to the local communities it serves. The transaction was led by Steven Olson, Vice President of Commercial Banking.
About Corporate Finance Associates
Founded in 1956, Corporate Finance Associates (cfaw.com) is one of the largest and most experienced middle-market M&A Advisory and investment banking firms in the nation. CFA has offices across the United States and Canada, three in India and 17 partner offices in Brazil, China and throughout Europe. CFA’s Aviation, Aerospace & Defense Industry Practice Group is a multi-disciplinary group of investment banking advisors providing M&A and financing advice to companies in all sectors of the Aviation and Aerospace industry.