01/27/2011
SinglePoint Completes Transaction In First Thirty Days
SinglePoint Aircraft Fiinance (SinglePoint), an AGC Aerospace & Defense company, has completed a transaction within the first month of launching its commercial and general aviation aircraft lending initiative. The subject of the successful transaction was a Hawker 800 XP business jet.
“This quick closing validates our view that the market is seeking a more efficient approach to aircraft financial transactions. We anticipate a robust year of deal flow for SinglePoint as we apply our unconventional and proven approach to solving an unmet need,” stated Tim Wilson, President of SinglePoint, a portfolio company of AGC Aerospace & Defense. “This first commercial transaction has highlighted the synergies we hoped to achieve with AGC’s MRO focused operating company, Valair Aviation, allowing us to move quickly to complete the financing.”
Valair Aviation, also an AGC Aerospace & Defense company, is a turnkey provider of heavy maintenance, restoration, modification, avionics, interior completion, and paint services.
“Knowing the aircraft inside and out from a maintenance perspective gives us a unique ability to define potential risk,” remarked Rick Nagel, a partner at Acorn Growth Companies, the private equity backbone of AGC Aerospace & Defense. “The combination of access to capital, operations-centric risk assessment, and ability to mitigate that risk with in-house maintenance capability will define our competitive advantage in this space as we unite the unique attributes of SinglePoint and Valair.”
About SinglePoint Aircraft Finance
SinglePoint Aircraft Finance (SinglePoint) was formed to meet a very specific niche within the private and government aircraft marketplace – that of providing private aircraft financial services to customers with requirements that may present challenges to the conventional financial services marketplace.
About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups: Composites, Finance, Integrated Defense, and Services.