Regional aircraft lessor, TrueNoord, has announced that “infrastructure investor, Arcus Infrastructure Partners, has entered into definitive documentation to take a c. 74% share of the business, and founding investor Freshstream has agreed to re-invest to hold the remainder.” The aircraft lessor says, “this is a significant step in the organisation’s growth and will underpin future aircraft portfolio acquisitions with stable capital provision as TrueNoord builds a global leased fleet of Embraer, ATR, Airbus and De Havilland Canada jets and turboprops.”
Chief Executive Officer, TrueNoord, Anne-Bart Tieleman acknowledging the importance of the transaction, said: “We are delighted to welcome Arcus Infrastructure Partners as our new long-term investor to facilitate our growth in the 50-150 seat regional aircraft leasing sector. They are investing in our business development expertise, our knowledgeable and experienced team, as well as our dynamic brand. Over the past 10 years we have steadily become one of the world’s leading specialist lessors, and I would like to thank Freshstream for their instrumental role in backing us from the start, alongside our previous investors and shareholders, BlackRock, Patria and many others, for the confidence that enabled us to build a super-successful business. The whole team at TrueNoord embraces this change and the momentum of our future trajectory.”
Partner and Head of Transport at Arcus, Michael Allen commented: “We are delighted to have acquired a significant majority stake in TrueNoord, a market-leading transport infrastructure business. Anne-Bart and team have done a phenomenal job building the TrueNoord platform over almost a decade, and the regional aircraft which they own and lease provide critical connectivity across dozens of cities and nations worldwide, powering economic and social development. We are excited to partner with the team for the next stage of their growth journey.”
Managing Partner at Freshstream, Rayhan Davis said: “We are immensely proud of our partnership with TrueNoord and the flightpath we have been on together with Anne-Bart and his team. From a fleet of just three aircraft to one of the largest pure play regional aircraft lessors in the world, TrueNoord’s trajectory has been exceptional, reflecting our strategy of backing entrepreneurial businesses and their management teams. We are excited to continue the journey and welcome Arcus on board for the next stage.”
TrueNoord pointed out that “the transaction is subject to customary conditions, and it is envisaged closing will occur in about two months.”