Sat, Jan 29, 2011
One Deal Does Not Make A Trend, But SinglePoint Aircraft
Finance Completed Its First Transaction In Thirty Days
Less than thirty days after launching its commercial and general
aviation aircraft lending initiative, SinglePoint Aircraft Finance
(SinglePoint), an AGC Aerospace & Defense company, has
completed its first transaction. The subject of the successful deal
was a Hawker 800 XP business jet.
“This quick closing validates our view that the market is
seeking a more efficient approach to aircraft financial
transactions. We anticipate a robust year of deal flow for
SinglePoint as we apply our unconventional and proven approach to
solving an unmet need,” stated Tim Wilson, President of
SinglePoint, a portfolio company of AGC Aerospace & Defense.
“This first commercial transaction has highlighted the
synergies we hoped to achieve with AGC’s MRO focused
operating company, Valair Aviation, allowing us to move quickly to
complete the financing.”
Hawker 800 XP File Photo
Valair Aviation, also an AGC Aerospace & Defense company,
provides heavy maintenance, restoration, modification, avionics,
interior completion, and paint services.
“Knowing the aircraft inside and out from a maintenance
perspective gives us a unique ability to define potential
risk,” remarked Rick Nagel, a partner at Acorn Growth
Companies, the private equity backbone of AGC Aerospace &
Defense. “The combination of access to capital,
operations-centric risk assessment, and ability to mitigate that
risk with in-house maintenance capability will define our
competitive advantage in this space as we unite the unique
attributes of SinglePoint and Valair.”
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