AerSale has entered into a definitive agreement to repurchase 6.4 million shares of stock from its long-term private equity sponsor Leonard Green & Partners, at a negotiated price of $7 per share.
Following the close of this transaction, the company expects its outstanding share count to be reduced by approximately 12%, with the transaction expected to close on or around March 18, 2025.
Nick Finazzo, AerSale’s chief executive officer, commented: “This strategic repurchase allows us to strengthen shareholder value by significantly reducing our share count, while mitigating market volatility as Leonard Green & Partners transitions out of its long-term role as a major shareholder in AerSale.”
The terms of the transaction were approved by the company’s board of directors. Further, the company amended the terms of its credit agreement on March 14, 2025, to allow for the repurchase of shares.
The repurchase will be funded with cash available on the company’s balance sheet and availability on its revolving credit facility.
Additionally, the company also announced that Jonathan Seiffer will step down from the company's board of directors, effective immediately.