Aergo Capital has acquired Seraph Aviation Management in a deal that will increase the Dublin-based aviation lessor’s portfolio to more than 300 aircraft.
Financial details of the transaction were not disclosed, but Aergo will manage and administer 88 aircraft assets spread across 38 individual lessees with total assets of US$2.5 billion (€2.4 billion).
The number of aircraft owned and managed by Aergo will increase to 304 aircraft. The deal means Aergo’s portfolio will be worth about $6.8 billion.
Aergo, which is owned by funds managed by AB CarVal, did not provide financial details, but described the transaction as “both strategic and historic for Aergo and tremendously beneficial for its overall operating platform in terms of future growth.”
Fred Browne, CEO and founder of Aergo, said the company was “extremely happy” and described Seraph as an “excellent strategic fit” which cemented Aergo’s position as one of the top 20 aircraft lessors worldwide. Seraph CEO David Butler said he was “delighted” to have completed the transaction.
https://www.independent.ie/business/irish/dublin-lessor-aergo-capital-in-deal-to-acquire-seraph-aviation-42175692.html Dublin lessor Aergo Capital has struck a deal to acquire Seraph Aviation