NLA completed the full redemption of Turning Rock's preferred equity investment ahead of schedule
DANIA BEACH, Fla., Aug. 5, 2025 -- Next Level Aviation® (NLA), a leader in the global distribution of used serviceable materials (USM) for all Boeing and Airbus commercial aircraft and associated jet engine platforms, has fully redeemed Turning Rock Partners' (TRP) 2019 preferred equity investment. NLA completed the full redemption of TRP's stake, ahead of schedule, in mid- June 2025.
Next Level Aviation® Chairman & CEO Jack Gordon stated, "We are extremely pleased to complete the full redemption of Turning Rock Partners. We again want to thank the TRP team for their financial and operational support during the investment period. We wish the entire TRP team the best, personally and with their portfolio investments, going forward."
Mr. Gordon continued, "We would also like to thank the PNC Business Credit team again for providing the asset-based lending flexibility needed to complete this management led recap. Now that the recap is complete, 100% ownership of Next Level Aviation® reverts to its founders. Management is in the process of evaluating the equity needs of the business going forward before choosing a new financial partner to assist us in taking the business to the next level."
About Next Level Aviation®
Next Level Aviation® is an ASA-100 accredited, and FAA Advisory Circular 00-56B compliant supplier stocking commercial aircraft/jet engine used serviceable material (USM) for all Boeing and Airbus aircraft platforms and associated jet engines. Next Level Aviation® specifically focuses on stocking USM for the Boeing 737 and Airbus A320 families of aircraft and their associated jet engines, which currently make up about 65% of the global commercial fleet. Founded in March 2013 by Jack Gordon, Mike Dreyer, and Matt Dreyer, Next Level Aviation® has grown into a top global supplier of commercial aircraft/jet engine used serviceable material. www.nextlevelaviation.net
About Turning Rock Partners:
Turning Rock Partners ("TRP") targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners' website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.
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