LCI buying portfolio from Nova Capital
LCI has agreed to acquire Nova Capital Aviation Ireland which owns Nova Capital’s twin-engine helicopters and fixed-wing aircraft. Nova Capital will keep its single-engine helicopter leasing portfolio.
The acquisition means that LCI’s portfolio grows to more than 140 twin-engine rotary and fixed-wing aircraft. More than 80% of LCI’s portfolio will now be on aircraft deployed on emergency medical services,, search and rescue, off-shore wind and utility missions.
“The Nova brand is highly regarded and is a major presence in the mission-critical EMS market which perfectly complements our own,” said Crispin Maunder, Executive Chairman of LCI. “Our agreement reflects the current trend towards industry consolidation and is testament to the robust leasing platform we have built. It expands our customer base, introduces new aircraft types to our fleet, and cements LCI’s long-term commitment to growth.”
The sale comes after Nova Capital grew its portfolio to more than $500m. Nova Capital will continue to grow its single-engine helicopter, light utility fixed-wing aircraft, and other advanced air mobility operations. It will work with LCI on this.
“Over 20 years, we have developed a market-leading leasing operation that specialises in providing asset financing solutions to helicopter and fixed-wing aircraft operators, primarily in onshore mission critical services,” said Olivier Piot, Founder and CEO of Nova Capital.
“We are delighted to conclude this agreement with such a complementary business as LCI. I am looking forward to continuing Nova Capital’s journey, under this new set-up and exciting partnership”