Willis Lease Finance, a lessor of commercial aircraft engines and global provider of aviation services, signed a definitive agreement to acquire 12 commercial aircraft and 13 aircraft engines.
The acquisition complements Willis Lease’s broader asset management, technical and aftermarket capabilities, strengthening the company’s ability to support customers worldwide throughout the aviation asset lifecycle.
“This transaction provides an opportunity to grow our portfolio as well as customer base,” Austin C. Willis, CEO of Willis Lease, said. “It also strengthens our aircraft leasing business, where we can create additional value through engine-based programs such as ConstantThrust.”
The transaction is subject to customary closing conditions.
Milbank served as legal counsel to Willis Lease, and PricewaterhouseCoopers provided accounting, tax and financial due diligence services to Willis Lease in connection with the transaction. The seller was advised by Vedder as legal counsel and by KPMG Ireland as tax and accounting advisors in connection with the transaction.
