Aircraft lessor Amedeo has completed a management buyout of its majority shareholder Pine Brook, the company says in a statement.
Pine Brook, which focuses on investments in the energy and the financial sectors, was a shareholder for four years, during which time Amedeo grew its aircraft portfolio from $1 billion to $5 billion.
“We have enjoyed a highly successful partnership with Pine Brook, which has supported our vision and strategy for building the business,” says Mark Lapidus, chief executive, Amedeo. “Today, Amedeo is well positioned for continued growth, and we look forward to partnering with Pine Brook on future investments in this industry.”
Oliver Goldstein, managing director of Pine Brook’s financial services team, says Amedeo is an excellent example of its ‘business building’ model, in which it partners with experienced management teams to create new businesses and supports their growth. “The old model would have been to create a traditional aircraft lessor, but we and management saw the opportunity to create a more profitable business model," he says.
"Mark Lapidus and his team have been terrific partners and have done a tremendous job executing on their plan, building Amedeo into an attractive company with strong capabilities as an asset manager and principal investor.”
Amedeo has 17 widebody in its fleet including two Airbus A380s on lease to Etihad Airways, three Airbus A350-900s on lease to Thai Airways International and two Boeing 777-300ERs and seven A380s on lease to Emirates Airline, Flight Fleets Analyzer shows. The lessor also has 20 A380s on order with Airbus.