Virgo Investment Group has announced it has partnered with former CIT Aerospace executives to expand its aviation business via Zephyrus Aviation Capital, the company said.
Former CIT Aerospace execs have partnered with Virgo to transform Zephyrus into a full-service platform, and the Company is completing a large portfolio acquisition.
Zephyrus is a fleet management solutions provider to lessors and commercial airlines around the world. The Company is focused on older and end-of-life aircraft and engine leasing & trading. Zephyrus is backed by funds managed by Virgo, who has been investing in aviation since 2010.
Zephyrus is looking to further capitalize on a robust market opportunity within the sector, which is both growing and evolving. The Company is completing the acquisition of a leased fleet of 21 older, predominantly narrow-body aircraft and is actively pursuing additional acquisitions. In terms of airlines, the Company is actively engaged in negotiations with several airlines to provide differentiated fleet management solutions.
Seabury Capital Group was the sole advisor to Zephyrus for the 21 aircraft portfolio acquisition and is a minority equity stakeholder in the Company as part of its merchant banking strategy.
Virgo Investment Group is an opportunistic investor targeting both asset-based credit and structured equity transactions. Founded in 2009, Virgo has invested over USD 1 billion across the firm´s Core Industries, including aviation.
Seabury Capital operates a number of specialty finance, investment banking, technology and software companies with a core focus anchored in aviation, aerospace & defense, maritime, and financial services & technology.