Carlyle Group is to provide funding to restructuring US-based Nordam to enable the aerostructures manufacturer and repair provider to emerge from Chapter 11 bankruptcy protection.
But the Siegfried family, which founded and still owns Nordam, will continue as a shareholder of the Tulsa-based company.
The Siegfried family will retain its 50-year ownership and oversight of the business, and continue to lead the company forward, Carlyle Group says.
No financial details of the transaction have been released; it is scheduled to be completed by June.
Carlyle Group says that it will provide equity and new debt financing to de-lever the business and position the company for continued growth.
Nordam entered Chapter 11 bankruptcy protectio…
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