Stellwagen Group, which is owned by Acasta Enterprises Inc, has completed its previously announced acquisition of ECN Capital‘s commercial aviation advisory and asset management business. Included in the transaction is a portfolio of 45 commercial passenger jets on lease to 30 global airlines. No financial terms were disclosed.
TORONTO–(BUSINESS WIRE)–Acasta Enterprises Inc. (TSX: AEF and AEF.WT) (“Acasta”) today announced that Stellwagen Group, Acasta’s leading commercial aviation finance advisory and asset management business, has closed its previously announced acquisition of ECN Capital’s Commercial Aviation advisory and asset management business (“ECN”).
ECN structures and arranges aircraft financing, and manages a portfolio of commercial aviation assets on behalf of institutional investors. It is run by a highly skilled US-based team and manages C$1.7 billion of aircraft assets, including a portfolio of 45 commercial passenger aircraft on lease to 30 global airlines.
The acquisition of ECN provides Stellwagen Group with an established asset management platform, complimentary expertise and increased distribution capabilities. The combination of ECN with Stellwagen is expected to create enhanced strategic advantages. ECN will be integrated into Stellwagen Capital.
About Acasta Enterprises Inc.
Acasta Enterprises Inc. is a leading Canadian public company that acquires businesses with exceptional potential for value creation through strategic and transformational initiatives. As a proactive private equity manager, Acasta partners with the senior management teams of its acquired businesses, empowering them to pursue value creating trajectories.