Springer Aerospace – Notice of Sale and Investment Solicitation Process

Echo Bay, Ontario–(business wire)–On November 23, 2022, 1138969 Ontario Inc. and Springer Aerospace Holdings Limited Corporate Creditors Arrangement Act.

Springer Aerospace has received court approval of the sale and investment solicitation process (“SISP”) seeking interest and opportunities in the sale, restructuring, recapitalization or other form of reorganization of Springer Aerospace assets and/or business operations;

Springer Aerospace maintains, repairs and overhauls the largest fleet of aircraft (“MRO”) Canadian company. Springer Aerospace services include aircraft maintenance and modifications, aircraft component manufacturing and certification, and aircraft painting services.

Springer Aerospace’s facility is located in Echo Bay, Ontario and has an onsite airport with an open instrument approach. His MRO facility at Springer is state-of-the-art and can accommodate two Boeing 737s simultaneously or up to seven ATR-72 size aircraft at any given time.

Springer Aerospace continues its tradition of excellent customer service. Springer Aerospace continues to serve customers on its normal course and will continue to serve existing and new customers across SISP.

We are pleased with the level of customer support for the rebuild,” commented Patrick Walsh, Springer Aerospace Chief Rebuild Officer.Business continues to perform well. We hope SISP will open up new possibilities for this business and the surrounding community. ”

SISP is a two-phase process starting January 11, 2023. Phase I is intended to solicit non-binding letters of interest. The deadline for filing a letter of interest that complies with the SISP Terms is 5:00 PM on February 3, 2023. Phase II seeks a binding contract from the compliant party, and bids must be submitted by 5:00 p.m. on March 7. , 2023.

Those interested in participating in SISP should contact MNP Ltd. Monitor Akhil Kapoor (Akhil.Kapoor@MNP.ca).

Initial orders and full SISP terms are available on the monitor’s website at: [https://mnpdebt.ca/en/corporate/corporate-engagements/springeraerospace].

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