07/07/2010

AGC Launches Engine Leasing Program

AGC Aerospace & Defense announced the launch of an aircraft engine leasing initiative with the closing of its initial aircraft engine purchase and leaseback transaction with GE Aviation. The program, marketed under the name Aircraft Logistics Group, will be lead by industry veteran Lee Beaumont.

“We are pleased to be partnered with Lee Beaumont in this effort, and to have finalized our first deal with GE Aviation,” commented Rick Nagel, partner at AGC Aerospace & Defense. “We’ve built a solid and well capitalized foundation for our engine leasing strategy, allowing us to focus more resources in this resurging sector.”

In conjunction with portfolio company Aircraft Logistics Group (ALG), AGC Aerospace & Defense provides industry and government customers alternative leasing and financing solutions for aircraft, systems, engines, and integrated special mission aircraft deployed around the globe. ALG has been in operation since 2007.

Beaumont, an AGC Aerospace & Defense advisory board member since 2006, will lead the consolidated leasing effort.

“The time is right for a robust program like this to be brought to the market,” remarked Beaumont. “I am delighted to be working with AGC Aerospace & Defense given their commitment to the sectors I’ve served for so long.”

Beaumont most recently served as Chief Operating Officer at Willis Lease Finance Corporation (WLFC), one of the largest independent lessors of aircraft turbine engines worldwide. He also served as President of U.S. Operations at Standard Aero, one of the largest independent engine maintenance, repair, and overhaul providers in the world.

ABOUT AIRCRAFT LOGISTICS GROUP
Aircraft Logistics Group (ALG) provides both aircraft and engine leasing solutions to industry and government customers worldwide. ALG operates within the Finance Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

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