Setna iO acquired a majority stake in Vilnius-based J&C Aero

Setna iO, LLC, a Chicago-based global supplier of aftermarket aircraft parts, acquired a majority stake in J&C Aero, a Vilnius-based specialist in cabin interior engineering.

Ellex Lithuania acted on the acquisition financing provided to Setna by CIBC as lender. Ellex Lithuania team – Associate Partner Eglė Neverbickienė and Associate Elvika Leščinskaitė – was Lithuanian counsel to the lender, advising on the Lithuanian security package (conditional share pledge and mortgage), the financial assistance analysis, and taking the security through to unconditional/effective status once the other transaction steps closed.

The transaction was completed at the start of July.