Aviation leasing company LCI entered an agreement to acquire Nova Capital Aviation, a division of the Nova Capital Group.

Nova Capital Aviation represents the twin-engine rotary and fixed-wing aircraft lease division of the Nova Capital Group, which will retain single-engine operations.

The acquisition will result in an expansion of LCI’s leasing platform to more than 140 twin-engine rotary and fixed-wing aircraft. It will also take the proportion of aircraft deployed on emergency medical services (EMS), search and rescue (SAR), off-shore wind and utility missions to more than 80% of LCI’s entire leasing platform.

“The Nova brand is highly regarded and is a major presence in the mission-critical EMS market, which perfectly complements our own,” Crispin Maunder, executive chairman of LCI, said. “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.”

“Over 20 years, we have developed a market-leading leasing operation that specializes in providing asset financing solutions to helicopter and fixed-wing aircraft operators, primarily in onshore mission critical services,” Olivier Piot, founder and CEO of Nova Capital, said. “We are delighted to conclude this agreement with such a complementary business as LCI. Their proven leasing platform, extensive experience in both the fixed-wing and rotary-wing leasing markets and immersion in mission-critical helicopter operations makes them a natural choice. I am looking forward to continuing Nova Capital’s journey under this new setup and exciting partnership.”