Aircell announces completion of third phase of $265 million financing

Aircell, a leading provider of airborne communications, reported the completion of the third tranche of a package of equity and debt financing now totaling $265 million. The latest step is the closing of a $35 million senior secured term loan facility arranged by Scotia Capital, Goldman Sachs and Credit Suisse, which rounds out the prior two-stage equity investment led by Ripplewood Holdings, a major private equity group, Blumenstein/Thorne Information Partners and other investment entities associated with investor/ entrepreneur Oakleigh Thorne.

Proceeds of the new financing are being utilized to provide working and investment capital funding for the growth of the company’s mobile broadband service Gogo, as well as to facilitate significant product line and geographic expansions of the fast-growing Aircell Business Aviation division.

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