Incora Announces Confirmation of Plan of Reorganization

December 30, 2024 at 07:00 AM EST

Court Approves Plan to Significantly Reduce Debt and Position Company for Future Growth

Expected to Emerge from Restructuring Process in January 2025

FORT WORTH, Texas, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Incora and certain affiliates (collectively, “Incora” or the “Company”), a leading global provider of innovative supply chain management solutions, announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the Company’s Plan of Reorganization (the “Plan”). The confirmation clears the path for Incora to successfully emerge from Chapter 11 protection in January 2025, with significantly less debt and well positioned for long-term financial success.

“We are extremely pleased that the Court has confirmed our Plan. Over the past year and a half, we have taken significant steps to strengthen Incora’s market-leading position. Through the restructuring process, we have paved the way to emerge stronger with our suppliers and closer with our customers, poised for growth,” said David Coleal, Chief Executive Officer of Incora. “We are very proud of these accomplishments, and with our talented and committed work force we are confident we will continue this momentum in the next chapter of our company’s story. Incora will complete this process better positioned to empower our customers to meet their critical business needs.”

Additional resources for stakeholders can be accessed by visiting the Company’s claims agent website at veritaglobal.net/incora, or by contacting Verita Global, the Company’s noticing and claims agent, at +1 (888) 251-2937 (for toll-free U.S. or Canada calls) or +1 (310) 751-2613 (for tolled international calls).

Incora is advised in this matter by Milbank LLP as restructuring counsel, PJT Partners as financial advisor and Alvarez & Marsal as restructuring advisor.

About Incora

Incora is the trade name for the group of companies formed by Wesco Aircraft and Pattonair, a leading provider of comprehensive supply chain management services to the global aerospace and other industries. Beginning with a strong foundation in aerospace and defense, Incora also utilizes its supply chain expertise to serve industrial manufacturing, marine, pharmaceutical and beyond. Incora incorporates itself into customers' businesses, managing all aspects of supply chain from procurement and inventory management to logistics and on-site customer services. The company is headquartered in Fort Worth, Texas, with a global footprint that includes 68 locations in 17 countries and more than 3,800 employees. For more information, please visit incora.com.

Forward Looking and Cautionary Statements

Incora has included statements in this press release that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act, as amended, and Section 27A of the Securities Act of 1933, as amended. As a general matter, forward-looking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, Incora's expectations with respect to the restructuring described herein. Such statements are intended to be identified by using words such as "believe," "expect," "intend," "estimate," "anticipate," "will," "project," "plan" and similar expressions in connection with any discussion of future operating or financial performance. Any forward-looking statements are and will be based upon Incora's then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Readers are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those projected in this press release. Incora undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact

Rachel Chesley / Victoria Zaharoff
IncoraComms@fticonsulting.com