Widebody lessor Amedeo is to make a minority investment in Intrepid Aviation and acquire its US management subsidiary as part of a broader strategic partnership.
Disclosing the arrangement, Amedeo adds that it will provide management aircraft support services to lessor Intrepid.
Centerbridge Partners and Reservoir Capital Group – shareholders in Intrepid – have meanwhile agreed to acquire a minority stake in Amedeo.
Intrepid, which will be rebranded, will continue to operate in Ireland and has entered into a multi-year aircraft management and services agreement with Amedeo.
Amedeo says it has assets under management that now exceed $8 billion, including two publicly listed vehicles on the London Stock Exchange.
Doug Winter, currently Intrepid's chief, will become vice-chairman of Amedeo. Intrepid's chief financial officer Mike Lungariello will take up the same position at Amedeo.
Mark Lapidus, Amedeo's chief executive, states that the lessor "remains focused on delivering unique and flexible solutions while building long-term partnerships with airlines and investors".
He adds: "Both companies will benefit from increased scale, synergies and talent that exist between the two platforms, and enhanced expertise in developing access to permanent capital investment channels. We are very pleased to welcome Doug and Mike to Amedeo, and are excited to further augment Amedeo's capabilities with their significant experience in the aviation industry."
JP Morgan acted as Intrepid's financial adviser, Jefferies as both Centerbridge's and Reservoir's, and Goldman Sachs as Amedeo's.
Milbank, Tweed, Hadley & McCloy acted as legal counsel for Centerbridge; Sullivan & Cromwell for Reservoir; and Clifford Chance for Amedeo.
FlightGlobal reported earlier this year that Amedeo had been considering a bid for Intrepid