NEW YORK, June 21, 2021 /PRNewswire/ -- AJW Group and Arena Investors, an affiliate of The Westaim Corporation (TSXV: WED), are pleased to announce a joint venture focused on selective acquisitions of commercial aircraft, engines and components. The partnership leverages AJW's operational expertise and global network together with Arena's extensive experience in aviation-related investments.
Through a newly formed entity based in Dublin, AJW and Arena will jointly acquire a targeted portfolio of aircraft and engines to be managed and monetized through AJW's global network. The joint venture will be funded with committed capital of up to USD $100 million.
Vivek Nayar, Arena Investors, comments:
"We are thrilled to be forming a partnership with AJW, one of the most storied and reputable firms in the aviation services industry, with its wide geographical reach and customer base. AJW's experience, combined with Arena's flexible capital solutions, are especially relevant at a time when there are great liquidity needs in the industry. We look forward to helping to solve those needs."
Ian Malin, Chief Financial Officer of AJW Group, comments:
"We are pleased to be working with Arena on this exciting project. Arena brings a vast and diverse experience to the table investing in the aviation sector in complement to AJW's extensive operational expertise. There are a number of compelling opportunities in the marketplace which we look forward to pursuing together".
About AJW Group
AJW Group is a world-leading independent specialist in aircraft component parts, repair and supply chain solutions, supporting over 1000 airlines across 100 countries. The company has established mutually beneficial, trusted partnerships to transform aviation efficiency, utilizing its extensive vendor supply chain to lead the industry, increasing efficiency and customer value. AJW has dedicated sales and service teams located worldwide, with global stock locations, operational hubs and offices across Africa, Asia Pacific, China, CIS, Europe, Latin America, Middle East, and North America with AJW Technique, its state-of-the-art maintenance facility based in Montreal.
About Arena Investors
Arena Investors is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With $2.2 billion of committed assets under management as of January 1, 2021, and a team of over 80 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.
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SOURCE AJW Group; Arena Investors