TORONTO--(BUSINESS WIRE)--Acasta Enterprises Inc. (TSX:AEF) (“Acasta” or the “Company”) is pleased to announce its aviation operating company, Stellwagen Group Limited (“Stellwagen”), has entered into an agreement with DAC Aviation International to lease four Airbus C295 aircraft.
The announcement from Stellwagen follows below:
Stellwagen To Lease Four Airbus C295 Aircraft to
Humanitarian Assistance Organisation
Dublin 5th December 2017 – Stellwagen Group Limited (“Stellwagen”) has signed an agreement to lease four Airbus C295 aircraft to DAC Aviation International (“DAC Aviation”), a premier humanitarian operator. DAC Aviation will commence humanitarian operations with two aircraft in Q1 2018 operating in Africa. This partnership allows the humanitarian missions to safely operate the new, multiple-use aircraft in austere African environments and immediately provide a new standard of relief services to people in peril.
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 twelve Airbus C295 specialised cargo aircraft with an option to purchase additional aircraft. This was the first sale to a leasing company by Airbus Defence and Space. The Airbus/Stellwagen partnership was formed to commercialise the Airbus C295 aircraft across civil markets including humanitarian agencies, search and rescue operations, and cargo businesses working in some of the most challenging operational theatres around the globe.
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.
Douglas Brennan, CEO, Stellwagen, said: “This is a tremendous opportunity for our company to make a difference. I am delighted to work with DAC Aviation to provide critical support and assistance to the less fortunate. The Airbus C295 is an ideal aircraft for this mission. It operates a multitude of missions in difficult environments.”
Emmanuel Anassis, Chairman of DAC Aviation stated: “We greatly appreciate this opportunity and partnership with our friends from Stellwagen. Introducing the Airbus C295 and its tremendous capabilities into our operations will significantly enhance our mission allowing us to take our 25 years of Humanitarian Assistance to the next level as we continue to deliver hope to those less fortunate.”
Note to Editors
For further information email C295@stellwagengroup.com.
About Stellwagen Group
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.
About Seraph Aviation Management
Based in Dublin, Seraph Aviation Management is a leading 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.
About DAC Aviation International
DAC Aviation was founded on an unwavering determination to make a difference. In the early 1990’s Emmanuel Anassis, DAC Aviation’s chairman and founder, identified an opportunity in the African humanitarian air transportation market. Working as a humanitarian pilot in east Africa he noticed that international humanitarian aid organizations were lacking access to a stable, reliable and safe air service provider. In response to this market need, DAC began operations in 1993 with a single DHC-5 Buffalo aircraft, a contract with UNICEF and a handful of dedicated engineers and pilots with a passion and desire to make a difference.
About Acasta Enterprises Inc.
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.
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This news release may include forward looking statements. All such statements constitute forward looking information within the meaning of applicable securities law and are made pursuant to the “safe harbour” provisions of applicable securities laws. Forward looking statements may include, but are not limited to, statements about anticipated future events or results, including comments with respect to Company’s future business operations, financial performance and condition. Forward looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of the Company’s management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. The forward looking information contained in this news release is presented for the purpose of assisting readers in understanding the Company’s business and strategic priorities and objectives as at the periods indicated and may not be appropriate for other purposes.
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