- Partnership's First Purchase is One Aircraft and Spare Engine With More
Acquisitions Planned for the Future
AURORA, Colo., April 5 /PRNewswire/ -- Republic Financial Corporation and
Volvo Aero Services announced today the purchase of a 737-300 airplane and
spare engine from BTM Capital Corporation. The deal is the beginning of a
relationship between Republic and Volvo Aero Services in the quest for similar
transactions. Volvo Aero Leasing is providing the funding for the purchase.
The airplane and engine are currently on lease to Delta Air Lines for the next
one and a half years.
"This is a perfect example of Republic's strategy to align itself with a
leader in the aviation industry to seek out mutually beneficial transactions,"
said Paul Mason, president, Aviation & Portfolio for Republic. "We fully
intend for this to be the first of many transactions in the years to come."
"We see this as the beginning of a strategic partnership," said Claes
Malmros, president and CEO of Volvo Aero Services. "Republic's expertise is
finding value-added transactions for all types of assets. Our expertise is in
managing the assets to maximize value. Together we can create a great
business relationship."
Republic will handle the leasing of the aircraft and engine while Volvo
Aero Services, the largest, independent airframe and airplane engine parts
distributor in the world, will manage the teardown and overhaul, with eventual
disposition of the aircraft and its parts managed jointly.
About Volvo Aero Services
Volvo Aero Services provides customer tailored services and solutions for
the world's airlines and MRO facilities. The company is also a leading
distributor of engine and aircraft parts and is represented in some 15
countries worldwide. An exclusive marketing and distribution agreement with
Boeing provides Volvo Aero Services with global rights to market and sell
surplus supplies to new and used parts for Boeing aircraft. In addition,
Volvo Aero Services represents major airlines in distribution of their surplus
materials. In the leasing sector, Volvo Aero Services offers long- and
short-term leasing of engines as well as financing of airframe rotable
components.
About Republic Financial Corporation
Republic Financial Corporation, located in Aurora, Colorado, is a
privately held investment company with ownership interests in operating
companies in commercial roofing, promotional products, corporate staffing, and
the Internet and data services sector. The company also invests in distressed
commercial debt, aviation, equipment lease portfolios, private equity and
structured finance transactions and has invested in assets worth $1 billion.
Republic was founded in 1971 and has achieved commercial success by
structuring creative financial solutions and employing intensive due diligence
and asset management to generate exceptional returns.
| |
SOURCE Republic Financial Corporation
 back to top
CONTACT:
Media, Tom Henley of Republic Financial,
+1-303-923-2584; or Claes Malmros of Volvo Aero Services,
+1-561-306-3237
| |
|
