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LCI, the leading helicopter rental company and aviation division of the Libra group, has strengthened its leasing platform with the establishment of a new co-investment vehicle with Thora Capital, LLC. and RIVE Private Investment as partners.
The transaction involves six Leonardo AW139 helicopters and three Airbus H130s, all with secure long-term debt financing. The helicopters, valued at over $ 100 million, are currently deployed in Australia and the USA LCI will act as a servicer for the co-investment vehicle.
The new agreement is Thora Capital, LLC and RIVE Private Investment’s first with LCI, and follows LCI’s successful closure of a similar co-investment vehicle in late 2019.
“We are delighted to be working with Thora Capital, LLC and RIVE Private Investment. This transaction will support the continued growth of our helicopter rental portfolio by bringing in new sources of co-equity and financial partners, ”said Crispin Maunder, Executive Chairman of LCI.
“Helicopters have only recently been viewed as a potential asset class by the investment community, which has limited the amount of capital available to operators to effectively manage their balance sheets and optimize the mix of owned and leased assets. We have long been impressed by the extensive experience of LCI’s leasing platform, its strong and diverse portfolio, supported by unparalleled operational and technical expertise, ”added Russell Christopher of Thora.
“LCI’s proven track record as a helicopter rental company is well respected by the financial community, making it a strong partner for RIVE Private Investment to expand our investment footprint outside of Europe. After years of investing in this asset class and developing in-house expertise, we believe that helicopters are a very resilient and attractive asset class provided we can rely on solid technical knowledge (internal and with partners) and to have a prudent financial approach, ”said Camille Brunel, partner at RIVE Private Investment.
LCI’s fleet includes approximately US $ 1 billion in in-service, on order, and under management assets focused on the latest medium and super medium helicopter technology manufactured by major helicopter OEMs including Leonardo, Airbus and Sikorsky .
These are operational on four continents in multiple industries, including emergency medical services, offshore wind, search and rescue, marine pilot transfer, and oil and gas transportation.