GIC, a long-term global investor with significant aircraft leasing experience, will become a significant minority investor in Nordic Aviation Capital (NAC). The transaction will be executed by an affiliate of GIC.
Since the 2015 partnership between Martin Møller and EQT VI, NAC has transformed from being a lessor focused on turboprop aircraft into the world’s largest regional aircraft lessor and the fourth largest commercial aircraft leasing company by investing more than $4.5 billion in the business. During that period, NAC has more than doubled its operating lease income and added more than 30 new customers.
The company currently has a fleet of 468 regional aircraft, a total asset base of $8 billion and a unique position to take further advantage of the market opportunities in the attractive regional aircraft space.
“We have delivered on our key strategic objectives, broadened our product offering and expanded NAC’s operations significantly over the last years. Bringing in a new investor is a step further on the journey of consolidating NAC’s position as the world’s leading and preferred regional lessor of choice for our customers, OEMs, capital market investors and our dedicated employees. Partnering with GIC will further strengthen our Company’s commercial and financial position,” said Søren Overgaard, CEO of NAC.
“EQT VI is excited to welcome GIC as a long-term investor and a strategic partner given their significant aviation leasing experience. With the investment from GIC, NAC will be able to further enhance its growth journey by cementing its market position as the world’s largest regional aircraft lessor”, said Morten Hummelmose, partner at EQT Partners and investment advisor to EQT VI.
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