Stellwagen Group and Acasta Enterprises Inc. have entered into definitive agreements by which Acasta would acquire Stellwagen for approximately USD270 million plus future consideration contingent on the operating performance of Stellwagen over the next three to five years, the company said.
Stellwagen said it will commit to investing USD100 million into Stellwagen Capital´s senior loan company or another strategic investment. These agreements are subject to certain conditions, including regulatory approval and approval by Acasta´s shareholders.
Stellwagen Capital said it plans to have USD5 billion in assets under management within three years. The company is launching a series of aircraft-related investment vehicles, the first of which is a senior secured aircraft loan company designed to meet the increasing demand caused by the retreat of the aviation banks.
Headquartered in Dublin, the Stellwagen Group provides asset management, financial and technology solutions to the global aviation industry.
Acasta Enterprises Inc. is a special purpose acquisition corporation that raised USD402.5 million in an initial public offering in July 2015, with the purpose of effecting a qualifying acquisition. With the approval of the acquisition of Stellwagen, Acasta will become a private equity manager fund and will launch a private equity fund to pursue further market opportunities.