Archive for December 7th, 2016

The Transformation of IAP Worldwide into a Leading Global Multi-service Company12.07.16

For over 60 years, IAP Worldwide has successfully pursued its mission of addressing pressing issues faced by military, industrial, and commercial organizations around the world. Since its establishment, the company has built a reputation for handling different tasks and finding lasting solutions within a short duration. Located in Cape Canaveral, Florida, IAP Worldwide delivers professional and technical services to the military and global companies. It has an incredible online and offline presence. The firm operates in more than 100 separate locations and has service centers in Florida, the Middle East, the UK, and Panama City.

Corporate policies

IAP’s principle goes beyond solving its clients’ challenging issues in the most efficient manner. IAP Worldwide ensures that its actions perfectly match with the accepted standards of professional conduct. It operates under three fundamental values – respect, transparency, and integrity. These principles are the essence of its reputation, and they are incorporated into every activity carried out by the firm.

Read more: Kaye Scholer Represents Lender Group in IAP Worldwide Restructuring

History

IAP Worldwide (then Pan Am World Services) started creating and running the Cape Canaveral, FL-based America’s first space launch base in 1953 on Jobs.net. It offered support for testing of over 2,500 launches, including air-breathing missiles as well as the manned shuttle program. After 45 years, the multi-service firm began providing comprehensive facilities maintenance support such as construction management and airport master planning.

Pan Am Services became part of Johnson Controls in 1990, forming Johns Controls Worldwide Services (JCWS). The new firm specialized in operations, management, and maintenance of industrial facilities and military basis. JCWS developed unique ways for optimizing energy efficiency while powering a facility’s lighting, fire and security systems, and environmental control. In 2004, IAP Worldwide opened its doors in Irmo, SC as an authorized logistics and procurement firm. Currently, the company collaborates with the U.S. military and wins contracts for mobile and temporary power generation, emergency disaster relief, and global procurement.

The role of Kaye Scholer

Kaye Scholer served as a representative of Bank Trust Company Americas and a team of lenders headed by Credit Suisse, Invesco, Eaton Vance, and Oppenheimer Funds during the IAP Worldwide’s restructuring. The restructuring entailed the transformation of 80 percent of the prevailing lien debt into all of the IAP’s equity, the establishment of a unique $50 million revolving loan on Facebook, as well as a letter of credit facility. The engagement comprised of IAP’s five offices and over 45 Kaye Scholer legal experts. The restructuring offered the necessary liquidity for facilitating the expansion of IAP Worldwide.

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