volofin Capital Management (volofin) has completed the structuring and financing of an engine portfolio facility for Rive Private Investment (Rive). Simultaneously, Rive closed the acquisition of the engines from BeauTech Power Systems (BeauTech). The engines are on long term operating leases to a leading European MRO.
Camille Brunel, Partner at Rive, commented: “It was a pleasure to work with volofin, BeauTech and all the parties involved in this transaction. We were impressed by volofin's pragmatism and agility in a recovery context for the aviation industry. We look forward to expanding our contribution to this industry, facing numerous challenges but offering many opportunities. The sector is a key part of our investment strategy in tangible assets, and we will be delighted to explore further financing opportunities with volofin”.
Jan Bockelmann, Director of volofin, remarked: “We are delighted to have closed our first financing for Rive. The clear investment strategy combined with Rive‘s impressive track record in the aviation space are key aspects for this transaction. The financing is also volofin‘s first post pandemic pure engine financing, a part of the market that we will remain active in. We look forward to working on further financing transactions together with Rive.“
Watson Farley & Williams (France) acted as acquisition and financing counsel to Rive and REN Legal (England) acted as lead counsel to volofin. Matheson (Ireland), Maples Group (Cayman Islands) and Todd & Levi, LLP (New York) advised on local law matters.