Acasta Enterprises Inc. (TSX:AEF) has announced its aviation operating company, Stellwagen Group Limited (“Stellwagen”), has entered into an agreement with DAC Aviation International to lease four Airbus C295 aircraft, the company said.
Seraph Aviation Management Limited, the aviation asset management company of Stellwagen, headquartered in Dublin, Ireland will manage the aircraft. In June 2017, Stellwagen signed a firm order for 12 Airbus C295 specialised cargo aircraft with an option to purchase additional aircraft.
The Airbus C295 is the aircraft of choice for the humanitarian assistance organisations due to its superior performance and capabilities, especially its ability to take off and land over short distances and from unimproved surfaces. The Airbus C295 is a twin turboprop multi-role transport aircraft manufactured in Spain.
The Stellwagen Group provides capital to industries in which it has a deep operating and financial capability and understanding. Working in the aviation and critical infrastructure space the Group combines innovative financial, operating and technology solutions to maximize returns and minimize risks for its own capital and for capital under its management.
Based in Dublin, Seraph Aviation Management is a provider of aircraft management services. It offers a broad range of aircraft and lease management services to customers in the airline, manufacturing, and finance sectors. It manages investment strategies for its investors and is not an asset owner. Seraph Aviation Management was acquired in 2015 by Stellwagen and re-branded. Previously, Seraph Aviation Management was operating as Volito Aviation Services Ireland.
Acasta Enterprises Inc. is a Canadian public company that acquires businesses with exceptional potential for value creation through strategic and transformational initiatives. As a proactive private equity manager, Acasta partners with the senior management teams of its acquired businesses, empowering them to pursue value creating trajectories.