MACQUARIE Group is exploring the sale of its helicopter leasing business, according to sources with knowledge of the matter.
The Australian company has begun soliciting interest from potential buyers in the unit, known as Macquarie Rotorcraft, which could fetch about US$1.2 billion in a transaction, said the sources, who requested anonymity to discuss confidential information. No final decisions have been made and it’s possible Macquarie could decide not to sell the unit, one of the sources said.
A Macquarie spokesperson declined to comment.
Macquarie Rotorcraft, led by chief executive officer John Petkovic, provides financing and leases for new and used twin-engine helicopters made by companies including Airbus and Leonardo. In 2018, Macquarie agreed to buy Limerick, Ireland-based helicopter lessor Waypoint Leasing Holdings and certain subsidiaries for about US$650 million, describing it as a “transformative” development for the Rotorcraft business.
Asset managers have long favoured aviation-related leasing, which is part of the booming private credit market. In July, HPS Investment Partners agreed to buy Chorus Aviation’s regional aircraft leasing business for about US$1.4 billion. In October, Wafra invested in Aquila Air Capital, which focuses on leasing engines and other aviation equipment. BLOOMBERG
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