Pine Brook has sold its majority ownership stake in Amedeo, an asset manager and principal investor focused on widebody aircraft leasing. The buyers were the company and its management team. No financial terms were disclosed.
NEW YORK—December 19, 2017—Pine Brook, a New York-based investment firm focused on building businesses in the energy and financial services sectors, today announced that it has completed the sale of its majority ownership interest in Amedeo (“the Company”), an asset manager and principal investor focused on widebody aircraft leasing, to the Company and its management team. Financial terms of the private transaction were not disclosed.
“Amedeo has been a great investment for Pine Brook, and is an excellent example of our unique ‘business building’ model, in which we partner with experienced management teams to create new businesses and support execution of their growth plan,” said Oliver Goldstein, Managing Director on Pine Brook’s financial services team. “The old model would have been to create a traditional aircraft lessor, but we and management saw the opportunity to create a more profitable business model. Mark Lapidus and his team have been terrific partners and have done a tremendous job executing on their plan, building Amedeo into an attractive company with strong capabilities as an asset manager and principal investor.”
During the period of Pine Brook’s investment, Amedeo saw significant growth in the business, with assets under management growing from $1 billion to $5 billion. The Company established Amedeo Air Four Plus (“AA4”), a London Stock Exchange listed company (LSE:AA4) with a market capitalization of approximately £675 million. Amedeo arranges acquisition and disposal of aircraft for AA4 and provides asset management services.
“We have enjoyed a highly successful partnership with Pine Brook over nearly four years,” said Mark Lapidus, CEO of Amedeo. “From day one, Pine Brook has supported our vision and strategy for building the business. Today, Amedeo is well positioned for continued growth, and we look forward to partnering with Pine Brook on future investments in this industry.”
About Pine Brook
Pine Brook is an investment firm that manages more than $6.0 billion of limited partner commitments that makes “business building” and other equity investments, primarily in energy and financial services businesses. Pine Brook’s team of investment professionals collectively has over 300 years of experience financing the growth of businesses with equity, working alongside talented entrepreneurs and experienced management teams to build businesses of scale without relying on acquisition leverage. For more information about Pine Brook, please visit the company’s web site at www.pinebrookpartners.com.