M&A Deal Summary

AWAS Aviation Capital Acquires Pegasus Aviation Finance Co.

On May 11, 2007, AWAS Aviation Capital acquired aerospace company Pegasus Aviation Finance Co. from Oaktree Capital Management and Pegasus Aviation

Acquisition Highlights
  • This is AWAS Aviation Capital’s 1st transaction in the Aerospace sector.
  • This is AWAS Aviation Capital’s 1st transaction in the United States.
  • This is AWAS Aviation Capital’s 1st transaction in New York.

M&A Deal Summary

Date 2007-05-11
Target Pegasus Aviation Finance Co.
Sector Aerospace
Buyer(s) AWAS Aviation Capital
Sellers(s) Oaktree Capital Management
Pegasus Aviation
Deal Type Add-on Acquisition
Advisor(s) BofA Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Pegasus Aviation Finance Co.

New York, New York, United States
Pegasus Aviation Finance Co. is a specialty finance company that purchases, finances, leases and manages passenger and freighter aircraft.

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Buyer(S) 1

Buyer

AWAS Aviation Capital

Dublin, Ireland

Category Company
Founded 1985
Sector Business Services
Employees120
DESCRIPTION

AWAS Aviation Capital Ltd. is a major international aircraft leasing group with over 70 lessees in 45 countries, including some of the major international and regional airlines. Operating for more than 30 years, AWAS is one of the world’s major aircraft leasing companies, with a fleet of 263 owned, managed and committed narrow and wide-body aircraft, including a pipeline of 23 new aircraft on order to be delivered before the end of 2018. AWAS currently provides customized aviation solutions to over 85 airline customers in over 45 countries.


DEAL STATS #
Overall 1 of 1
Sector: Aerospace M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2007 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-04 AWAS Aviation Capital - Aircraft Operating Lease Portfolio

United States

AWAS Aviation Capital - Aircraft Operating Lease Portfolio comprises 90 modern, current-generation commercial passenger aircraft leased to 40 airlines. The weighted average age of the fleet is approximately 2 years with an average remaining lease term of 6.5 years. Narrowbody Airbus A320-200 and Boeing 737-800 aircraft comprise more than 90 per cent of the portfolio (by value). The remainder of the portfolio consists of Airbus A330 widebody aircraft.

Sell $4.0B

Seller(S) 2

SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


DEAL STATS #
Overall 22 of 90
Sector: Aerospace M&A 1 of 2
Type: Add-on Acquisition M&A Deals 15 of 39
State: New York M&A 2 of 2
Country: United States M&A 20 of 59
Year: 2007 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-03 HydroChem

Deer Park, Texas, United States

HydroChem LLC is a provider of industrial services, including chemical cleaning, hydroblasting, tank cleaning, and mechanical and industrial vacuuming.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 Eckes & Stock

Czech Republic

Eckes & Stock GmbH is a producer and marketer of spirits.

Buy -
SELLER

Pegasus Aviation

San Francisco, California, United States

Category Company
Founded 1988
Sector Aerospace
DESCRIPTION

Pegasus Aviation, Inc. is a provider of airlines for new deliveries and fleet management solutions.


DEAL STATS #
Overall 1 of 1
Sector: Aerospace M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Pegasus Aviation Finance Co.

New York, New York, United States

Pegasus Aviation Finance Co. is a specialty finance company that purchases, finances, leases and manages passenger and freighter aircraft.

Buy -