Flexpoint Ford has agreed to provide undisclosed equity funding to London and Mauritius-based aircraft leasing company Veling Ltd. The capital infusion will give Veling the financing to support the acquisition and leaseback of over $1 billion of commercial aircraft to airlines the next two years. Berenson & Company will also participate in the financing.
NEW YORK, Nov. 11, 2015 /PRNewswire/ — Veling Ltd. (“Veling”), a niche aircraft leasing company, today announced a partnership with Flexpoint Ford, LLC (“Flexpoint Ford”), a private equity firm focused on the financial services and healthcare sectors. The partnership will provide Veling with equity capital to support the purchase and leaseback of over $1 billion of commercial aircraft to high-quality airlines over the next two years.
Veling, based in London and Mauritius, has an extensive track record of providing airline partners with compelling financing for leased commercial aircraft. The Veling management team, led by its co-founders Uday Nayak and Nirvan Veerasamy, has several decades of experience in the aviation industry, including in the three key areas of aircraft manufacturing, airline operations and aircraft ownership/financing.
“We are delighted to partner with the Veling team,” commented Steven L. Begleiter, Managing Director of Flexpoint Ford. “We have been highly impressed by their approach to this growing segment of the aircraft leasing market and believe their niche strategy and ability to scale positions them well for continued, long-term success.”
Michael W. Vostrizansky, Principal of Flexpoint Ford, added, “We believe the Veling team’s capabilities are truly differentiated with meaningful long-term relationships spanning the aviation industry, end-to-end, full-service capabilities in-house, and a disciplined investment process that has developed a strong track record over the past two decades. Our partnership will allow Veling to provide airline clients with timely, flexible and creative solutions to their long-term operating and capital needs, expanding on Veling’s already proven strategy and success.”
“We are very pleased and excited to partner with the exceptional team at Flexpoint Ford and we are confident that their experience and resources will enable us to close a number of meaningful transactions with major global airlines and grow our portfolio of aircraft under management,” said Uday Nayak and Nirvan Veerasamy, in a joint statement. “The opportunity to partner with a successful private equity firm such as Flexpoint Ford is a testament to the entire Veling team and the value proposition of our business model which has brought Veling to where it is today. This transaction also builds on our existing relationship with Berenson & Company, a leading independent merchant-banking firm based in New York and our exclusive financial and strategic advisor, who will also provide equity capital alongside Flexpoint Ford and Veling.”
Mohammed M. Ansari, Managing Director of Berenson & Company and a Board member of Veling, added, “We have long believed in the potential for Veling’s investment strategy and welcome the opportunity to act on this conviction by deploying our firm’s capital through this compelling new partnership.”
About Veling Ltd.
Founded in 2002 by Uday Nayak and Nirvan Veerasamy, Veling specializes in aircraft leasing, remarketing, structured finance and asset management. Veling has a diverse portfolio of commercial aircraft under its ownership and / or management. Based in Mauritius and London with team members in the Middle East and Asia, Veling has a management team with extensive experience not only in the entire spectrum of aircraft leasing and asset management, but also in global aircraft manufacturing and airline operations, thus providing it with a unique insight on the industry and the ability to tailor solutions to suit the requirements of airlines and other stakeholders.
For more information, please visit www.veling.aero.
About Flexpoint Ford, LLC
With offices in Chicago and New York, Flexpoint Ford is a private equity investment firm with over $2 billion under management, specializing in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has invested in more than 25 companies across a broad range of sizes, structures and asset classes.
For more information, please visit www.flexpointford.com.
About Berenson & Company
Founded in 1990, Berenson & Company is an independent merchant-banking firm based in New York, with an additional office in Dubai. The Firm provides a comprehensive suite of investment banking advisory services, alongside a principal investing practice. The Firm’s investment banking capabilities include mergers & acquisitions advisory services, public and private financings of debt and equity, and financial restructuring and recapitalizations.
For more information, please visit www.berensonco.com.