Macquarie buys Waypoint Leasing for $650 million

news

by Alasdair Whyte

8 December 2018

Macquarie is buying Waypoint Leasing for $650 million. Waypoint’s staff will join Macquarie Rotorcraft Leasing.

The transaction is subject to bankruptcy court approval and expected to close before March 2019. Several of Waypoint’s lenders have agreed to provide a $45 million debtor-in-possession facility.

“This transaction builds upon Macquarie’s strong franchise in the aviation finance sector. The Waypoint team has built a leading presence in the helicopter leasing market. Combining our own business and asset expertise, this is a transformative development for our current business,” said Stephen Cook, Global Head of Transportation Finance at Macquarie. “Macquarie Rotorcraft Leasing intends to build on this acquisition to be a pre-eminent provider of helicopter leasing and financing products.”

Macquarie, a leading transport finance bank with a strong track record in aircraft leasing, was close to being a launch investor in Waypoint. It launched Macquarie Rotorcraftin 2013.

“This is a momentous step forward in achieving our goal to transform Waypoint. With Macquarie’s strong balance sheet and incredible depth in aviation, the integrated platform will be the most dynamic in the industry. The expertise of our combined resources and human capital will give us an unparalleled foundation to bring stability and a long-term balance to a sector filled with uncertainty,” said Hooman Yazhari, CEO of Waypoint. “We remain incredibly grateful for the support of our stakeholders throughout our transformation process, including our lenders, customers, OEMs and MROs and, above all, our employees who have worked tirelessly. We anticipate a speedy conclusion of the sale process, after which we and Macquarie will reach new heights, poised to capture the many opportunities ahead of us.”

Stephen Cook, Global Head of Transportation Finance at Macquarie, is speaking at Helicopter Investor London 2018 on January 30.