TORONTO--(BUSINESS WIRE)--Acasta Enterprises Inc. (TSX: AEF and AEF.WT) (“Acasta”) today announced that Stellwagen Group, Acasta’s leading commercial aviation finance advisory and asset management business, has closed its previously announced acquisition of ECN Capital’s Commercial Aviation advisory and asset management business (“ECN”).
ECN structures and arranges aircraft financing, and manages a portfolio of commercial aviation assets on behalf of institutional investors. It is run by a highly skilled US-based team and manages C$1.7 billion of aircraft assets, including a portfolio of 45 commercial passenger aircraft on lease to 30 global airlines.
The acquisition of ECN provides Stellwagen Group with an established asset management platform, complimentary expertise and increased distribution capabilities. The combination of ECN with Stellwagen is expected to create enhanced strategic advantages. ECN will be integrated into Stellwagen Capital.
About Acasta Enterprises Inc.
Acasta Enterprises Inc. is a leading 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.
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This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect Acasta’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on Acasta’s expectations, estimates, forecasts and projections and include, without limitation, that expectation that the transaction will create significant strategic advantages and synergies.
The forward-looking statements in this news release are based on certain assumptions, including without limitation, that Acasta’s future objectives and strategies to achieve those objectives will not change, as well as other statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in Acasta’s annual information form for the fiscal year ended December 31, 2016, a copy of which is available on the SEDAR website at www.sedar.com under Acasta’s profile. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Acasta assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.