Opus Bank’s Corporate Finance division provides $11,000,000 in debt financing to Integrated Aerospace Manufacturing, LLC
Overview of Transaction
Opus Bank provided $11,000,000 for IAM’s acquisitions of Quality Manufacturing Inc., a company with expertise in close tolerance turning; Polaris Machining, a company with extensive milling capability; and Vector Industries, a company which added significant capabilities in sheet metal fabrication.
All three companies are located in Snohomish County, Washington, near Boeing's Everett, Washington facility.
Significance of Transaction
The combination of Vector, Polaris, and Quality Manufacturing Inc. provides IAM with expertise across a broad range of manufacturing processes, giving the company the ability to expand product capabilities.
IAM’s centers of excellence will match customers' needs with the best capabilities, while reducing lead times and outside services.
Opus Bank's Role
Opus Bank provided acquisition financing for all three transactions and a line of credit for working capital purposes.
Opus Bank continues to work closely with IAM as the company looks at additional acquisitions and consults with the board of directors on both strategy and structure.