Aircraft Recycling International, a member company of China Aircraft Leasing Group, acquired a 100% equity interest in Universal Asset Management, a global aviation services providers based in Tennessee.
UAM has nearly three decades of commercial and technical experience managing customers’ aviation assets, disassembling aircraft and supplying after-market components to the commercial aviation industry. UAM is now a wholly owned US subsidiary of ARI, responsible for ARI’s aircraft recycling business overseas, and a part of its global disassembly and distribution platform. Together, ARI and UAM will form global solutions for aging aircraft.
Christina Ng, deputy CEO and COO of ARI, was appointed as chairwoman of UAM, while Keri Wright and Shawn Kling will continue to lead UAM’s operations as CEO and president, respectively. UAM will retain its brand name and continue to operate in the same manner with the same management team, while all staff will remain in place across all its business units.
“We are delighted to acquire such a strong and experienced partner with an impressive record of profitability and growth,” Ng said. “This brings together the strengths and expertise of both ARI and UAM to ensure a strategic business deployment that will capture huge potential in the mid- to late-life aircraft management industry, and will see aircraft completely managed through their full-life cycle, which will enhance the asset value of aircraft fleets. While expanding our presence in global markets, ARI will further enhance our total aircraft solutions for aging aircraft, so as to cater to the specific needs of the Chinese market.”
“I am pleased that UAM will be working with ARI, and I am very impressed with the commitment it has shown to creating value for shareholders, customers, employees and suppliers,” Wright said. “Together, we will draw upon our common vision and aim to help deliver positive and much needed change to the industry.”
Monitor 100 2017
Despite launching only a year and a half ago, it should come as no surprise that Whitney Equipment Finance made its debut in the Monitor 100 this year, placing at No. 70 and reaching No. 62 on the Volume 100.... read more
Monitor 100 2017
The new lease accounting rules, ASC 842, are a major change for lessee customers. The rules are complex and will require lessees to do things they have never done before. Activity has lulled anticipating the transition occurring in 2019 for... read more