The Firm represented Genstar Capital, a private equity firm, in the recapitalization of Jet Support Services, Inc. (“JSSI”), a portfolio company of Genstar and GTCR. Blackstone Credit and Insurance provided over $1 billion in financing to support the transaction.
Founded in 1989, JSSI is the world’s largest independent provider of hourly cost maintenance (HCM) programs for business aircraft engines, auxiliary power units, and airframes. JSSI’s HCM programs cover over 300 different makes and models of business aircraft, including jets, turbo-props and helicopters. With 6,000+ aircrafts supported by maintenance programs and software platforms, JSSI leverages this wealth of data, scale, and innovation to drive cost savings and provide custom solutions that align to the interests of each client.
The Simpson Thacher team included Michael Kaplan, Kristin Rulison, Sam Buchman and Leila Khamees (M&A); and Benjamin Rippeon and Edward Grais (Tax).