Shannon, Ireland based engine lessor, elfc, has completed the purchase of the remaining shares of INAV LLC., the Chicago-based engine parts and components company.
“We are delighted to complete the final stage of this key acquisition” said Tom Barrett, President & CEO of elfc. “Since our initial investment in 2017, we have worked closely with INAV to develop the efficiency of our engine life cycle management and enhance the product offering to our combined customer bases. This acquisition is an important milestone for the growth and development of elfc and together with our colleagues at INAV we aim to support our customers with more choice for more products at the times they need it.”
INAV LLC’s President & CEO, Craig Hackendahl commented, “We are thrilled to combine our ability to manage end-of-life engines with the financial strength and global reach of elfc. The additional capital and access to the product provides us with growth opportunities on both the sourcing and delivery sides. The combination of elfc and INAV expands our ability and role in supporting the circular economy while reducing maintenance costs through an increased supply of high-demand serviceable material.”
elfc is one of the world’s largest spare engine leasing and financing companies, specialising in flexible short-to-long-term engine support packages for the commercial aviation industry, with a portfolio of over 350 engines worth in excess of US$3 billion (£2.4 billion). INAV LLC, headquartered in Crystal Lake, Illinois, is a specialist in the buying and selling of commercial aircraft engine parts and components, in support of MRO’s, airlines and leasing companies.
