Leonard Green & Partners has invested $250 million into AerSale, a Coral Gables, Fla.-based provider of aftermarket aircraft, engines and components. Imperial Capital advised AerSale on the deal.
AerSale announced today that it completed an initial $250 million equity raise with Green Equity Investors V, L.P., an affiliate of Leonard Green & Partners, L.P. AerSale is a global provider of aftermarket aircraft, engines, and their component parts to airlines, leasing companies, and OEM/MRO service providers.
“We’re extremely excited to have partnered with Leonard Green & Partners,” stated Nicolas Finazzo, AerSale’s Chief Executive Officer. “This partnership will allow us to channel all of our energy into acquiring, leasing, and redistributing our products to the aviation industry. Our business plan at AerSale calls for the acquisition of over $1 billion of aviation assets during the next 5 years.”
“We believe that AerSale represents a terrific opportunity to invest alongside one of the most experienced management teams in the industry. With their proven track record, we fully expect AerSale to rapidly become an industry leader in the mid-technology aircraft space,” commented Jonathan Seiffer, partner at Leonard Green.
Mr. Finazzo and AerSale Chief Operating Officer Robert B. Nichols most recently served as the Chief Executive and Chief Operating Officer, respectively, of Miami, Florida based AeroTurbine, Inc., which they co-founded in 1997 and sold to Amsterdam based AerCap in April 2006.
“Together with Leonard Green & Partners, we have a shared vision of how to supply cost effective aftermarket flight equipment to the aviation industry, while at the same time providing the highest level of customer satisfaction,” added Mr. Nichols. “The market needs a well capitalized participant with substantial experience to assist airlines with their fleet transitions, whether through sale-lease back transactions or the outright purchase and remarketing of aircraft, engines, and parts inventories.”
The transaction was arranged by Los Angeles based Imperial Capital, LLC.
About Leonard Green & Partners, L.P.
Leonard Green & Partners, L.P. is one of the nation’s leading private equity firms with over $9 billion in equity commitments under management. Leonard Green & Partners, L.P. was founded in 1989 and has invested in 46 companies with an aggregate value of $35 billion. For more information, please visit www.leonardgreen.com.