Irish-based leasing firm Aergo Capital has acquired the asset management firm Seraph Aviation, through which it will assume responsibility for 88 aviation assets.

The agreement means the Aergo portfolio will expand to 304 aircraft – including those subject to letters of intent – with a total value of $6.8 billion.

Terms of the Seraph acquisition have not been disclosed.

Aergo describes the transaction as “strategic and historic”, and that the deal puts the company in a “solid position”.

Chief executive Fred Browne says Seraph Aviation is an “excellent strategic fit” and will take Aergo to the “top of the industry league table”.

Aergo has a diverse portfolio of aircraft including long-haul, short-haul and turboprop types – among them the Airbus A350 and A320, and the Boeing 787 and 737.

Seraph Aviation became the new name of Stellwagen Group following a management buy-out of the majority shareholder two years ago.

Aergo-c-Aergo Capital

Source: Aergo Capital