TORONTO--(BUSINESS WIRE)--Acasta Enterprises Inc. (TSX: AEF and AEF.WT) today announced that its aviation operating company, Stellwagen Group, has made two senior executive appointments.
The announcement from Stellwagen Group follows below.
Stellwagen Group Strengthens Executive Leadership Team With Two New Appointments
- ECN Capital and Credit Suisse Veteran Scott Corman to Serve as Chief Executive Officer of Stellwagen Capital -
- Long-Time Digicel Group Executive and Growth Expert David Butler to Join as Chief Operating Officer of Stellwagen Group -
- Appointments Signal Sustained Commitment to Successful Capital Raising Initiatives, Lessor Community Partnerships and Operational Excellence -
The Stellwagen Group (the “Group”), the global aviation industry’s leading provider of fully-integrated asset management, technical management and fleet and capital financing solutions, today announced the appointment of Scott Corman to the role of Chief Executive Officer of Stellwagen Capital Limited (“StellCap”) effectively immediately, and David Butler to the role of Chief Operating Officer of the Group, effective October 1, 2017.
“We are extremely excited to assign Scott new leadership responsibilities and add David to the team at a time when the aviation sector’s demand for innovative financing solutions continues to increase alongside institutional investors’ appetite for alternative investments that offer stable yield and low correlation to traditional asset classes,” said the Group’s Founder and Chief Executive Officer, Douglas Brennan. “Scott’s structured finance expertise and David’s innovative management practices position us to seize these sizable opportunities and solidify our strong position in the marketplace. They will also play key roles in accelerating our integration of the aviation advisory and asset management business we acquired from ECN Capital.”
Prior to joining the Group as part of the ECN Capital transaction, Mr. Corman served as an Executive Managing Director leading the firm’s expansion into structured finance services in both the rail and aircraft markets. He previously spent 13 years as Head of the Transportation Asset Finance team at Credit Suisse AG in New York. His track record of architecting numerous award-winning transactions and experience launching the largest ABS transaction in aviation marketplace history align extremely well with the Group’s goals for StellCap.
Mr. Brennan added the following regarding Mr. Corman’s appointment: “In addition to applying his expertise to managing StellCap’s senior loan fund and structured products, Scott brings vast experience and relationships that powerfully highlight our commitment to the leasing community. His leadership will also allow us to enhance and expand our capital raising initiatives.”
A native of Ireland, Mr. Butler previously spent more than a decade at Digicel Group, a leading provider of affordable and innovative mobile services, enterprise solutions and cloud computing. He most recently served as Chief Executive Officer of the firm’s Jamaica, Panama and Fiji businesses and was responsible for exponential growth in several regions. His transformational leadership techniques will now support the Group’s efforts to drive new operational efficiencies, disciplined performance management and sustainable growth.
Mr. Brennan concluded with the following regarding Mr. Butler’s appointment: “David has an impressive track record of growing businesses. By positioning David to drive operations and focus on strategic opportunities, we will bring tremendous enhancements and efficiencies to the Group’s structure. From helping to streamline reporting lines to freeing up other team members for business development and client management, we view the addition of David as an invaluable growth catalyst.”
In conjunction with these appointments, Howard Millar has indicated his intention to leave the organization shortly.
About The Stellwagen Group
Founded in 2012, the Stellwagen Group is a fully-integrated provider of asset management, technical management, and fleet and capital financing solutions to the global aviation industry as well as aviation investors. The Group has a number of companies headquartered in Dublin, Ireland: Stellwagen Finance Company, Seraph Aviation Management, Stellwagen Capital and Stellwagen Technology.
About Stellwagen Capital Limited
Stellwagen Capital Limited (“StellCap”) is the exclusive credit investing arm of the Stellwagen Group, focused on credit-oriented investment strategies in industries in which the Group has exceptional operating and financial competence. StellCap draws on the Group’s operating companies to deliver superior investment products to help institutional investors, banks and individuals invest in industrial fixed income strategies. StellCap currently specializes in aviation debt with key areas of focus that include senior secured loans, high yield instruments, and operating lease debt and stressed / distressed debt. The firm oversees investment companies that will deploy capital for banks, insurance companies, foundations, fund of hedge funds, and high net worth investors.
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.
Cautionary Note Regarding Forward-Looking Statements
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. 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.