Magnetic MRO, a Total Technical Care maintenance and asset management organisation, completed the acquisition of a package of four Boeing 737-800 airframes and ten CFM56-7B engines. The pool of assets was acquired by a newly established asset vehicle called Magnetic Parts Trading Limited, a joint venture between Magnetic MRO and Crestline Investors. Crestline Investors is supporting the transaction with the majority of capital needs, whereas Magnetic MRO acts as exclusive asset manager for the joint investment vehicle. This is the first major acquisition of the newly established structure, with more significant projects planned for 2018-2020. “Three years ago Magnetic MRO changed its strategic positioning from being a labour intensive maintenance facility to more technology, know-how, and capital driven aviation service organisation. We made a number of steps in the areas of technological differentiation and broad know-how of managing complex asset projects. This latest acquisition of a major package of current generation assets, together with our financial partners Crestline Investors, marks another significant step for Magnetic MRO in executing our strategic direction. We aim to become a strong value adding partner not only to the historical pool of airline customers, but also to the asset owners and financial investors in the aviation industry.”
The first assets from the acquired pool of 737 800s and CFM56-7B engines will be delivered to the market as early as January 2018.
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