NORDAM emerges from Chapter 11 reorganization

TULSA, Okla. (Tues., April 9, 2019) – NORDAM, a market leader in aerospace-composite manufacturing and repair, today announced it has emerged from bankruptcy. The emergence follows the U.S. Bankruptcy Court for the District of Delaware’s approval of the company’s reorganization plan, which was supported by all parties, as well as court and regulatory approval of an investment partnership with private equity firm The Carlyle Group.

According to NORDAM CEO Meredith Siegfried Madden, NORDAM has secured funding needed to support future growth, and all creditors will receive full payment.

“I’m pleased we have reached a quick resolution for our stakeholders, our customers, and our suppliers and lenders,” Madden said. “We’re obviously extremely proud to be paying back all our creditors in full. That was a commitment we made, and we delivered on that commitment. I’m grateful for the support our customers and suppliers have shown us. And I’m very excited to be turning the page to a new chapter for NORDAM as we celebrate our 50th anniversary this year. In combination with our new partner The Carlyle Group, we are privileged to be able to secure the future for our stakeholders and now have the funding to support our path toward future growth.”

 

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About NORDAM

Founded in 1969 on family values with multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is a leading independently owned aerospace company. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more about NORDAM at NORDAM.com.