PCX Aerostructures, LLC is a premier supplier of advanced mechanical
systems for leading OEMs in the aerospace industry. The company—owned
by RFE Investment Partners—had a strong backlog of orders, primarily
for components that Boeing needed to upgrade U.S. military helicopters.
When PCX had trouble keeping up with demand, RFE turned to Siena to deliver
a working capital solution.
PCX needed additional working capital, but the company was constrained by its previous lender,
whose financing solution was based primarily on cash flow.
While most asset-based lenders won’t allow clients to borrow against work-in-progress (WIP),
Siena recognized this situation was unique given PCX’s competitive moat as a
government-approved supplier. We partnered with another lender to provide a creative
financing solution to fund the company’s WIP.
PCX used the additional liquidity to convert on its backlog and increase profitability.