AeroCentury, an independent aircraft leasing company, has completed the acquisition of JetFleet Holding Corp. (JHC).
JHC is the parent of JetFleet Management Corp., which has managed the Company’s operations and aircraft portfolio since the Company’s founding in 1997. ACY paid approximately US$2.8 million in cash and 129,286 shares of ACY common stock to JHC shareholders.
“We believe this acquisition will be a positive development for AeroCentury and appreciate the strong support we have received by both ACY and JHC shareholders. To our customers, the merger represents business as usual, since the same management team that has run AeroCentury remains in place and fully intact,” said Michael Magnusson, CEO of AeroCentury.
