Wafra Inc., a global alternative asset manager based in New York, has acquired a controlling stake in Aquila Air Capital (Aquila), a prominent engine lessor. Wafra has signed definitive agreements to acquire the Aquila platform from Warburg Pincus, a global growth investor. Through this transaction, Wafra will take a controlling interest in Aquila and provide significant capital to support the company’s ongoing expansion. This move is expected to close in the fourth quarter of 2024, subject to regulatory approvals.
Aquila Air Capital was established in 2021 by Warburg Pincus, CEO Al Wood and Kepler Hill Capital, with the goal of building a specialised finance business within the commercial aerospace sector. Initially focusing on the purchase, financing, and leasing of mid-to-late-life aircraft and engines, Aquila has grown into a comprehensive leasing platform over the past three years. The company now offers in-house origination, lease management, and technical oversight, becoming a valued partner for buyers, sellers, and operators throughout the aviation asset value chain.
Wafra’s Chief Investment Officer, Adel Alderbas, views the acquisition as a strategic extension of Wafra’s infrastructure portfolio, praising Aquila for its differentiated business model and commitment to providing essential equipment solutions to its global airline customers. Wafra’s Managing Director, Edward Tsai, highlighted the firm’s experience in transportation asset leasing, including sectors like rail, shipping, and aviation, and expressed confidence that Wafra’s expertise and capital will accelerate Aquila’s growth.
Aquila will remain an independent business led by its current management team, and Atlas SP Partners will provide a credit facility to support the acquisition and future growth of the company. Financial details of the transaction were not disclosed.
