Wafra has closed its acquisition of engine lessor Aquila Air Capital from Warburg Pincus on December 16, 2024.
The transaction was first announced in October this year after Wafra entered into a definitive agreement to acquire a controlling interest in Aquila. Since the announcement, Wafra had received all necessary regulatory approvals to complete the deal.
“The demand fundamentals for Aquila's business in particular, and aviation equipment finance more broadly, are strong,” Wafra managing director Edward Tsai. “Aquila is well positioned to continue successfully serving its global customer base.”
“This investment is a significant endorsement of our team's hard work and the value of our platform brings to the market,” said Aquila Air Capital CEO Al Wood. “Our team is thrilled about the future growth prospects the partnership with Wafra will provide, enabling us to accelerate our expansion, introduce new offerings, and broaden our global customer base.”
ATLAS SP Partners — a warehouse finance and securitised products business majority owned by Apollo funds — provided a credit facility to support the acquisition of Aquila and fund its future growth.
Evercore served as Aquila's financial advisor, and Kirkland & Ellis provided legal counsels. Sidley Austin served as legal counsel to Wafra.