Sabre is privately held, and its financial statements are not public. That said, the company's revenue base is in line with similarly rated peers. While smaller size in and of itself is not a risk, it indicates a more narrow scope of operations (support structures used in utility, telecommunications, and other industries), limited geographic diversity (U.S. only), and a degree of customer concentration. Furthermore, while sponsor Kohlberg&Co. LLC has not announced (to our knowledge) a plan to monetize its investment in the near term, we recognize it has owned Sabre Industries since 2012. There is a potential for a leveraging event in the intermediate term. We understand Sabre Industries is one of the leaders in manufacturing engineered support
