Oklahoma City, OK (PRWEB) April 09, 2014
AGC Aerospace & Defense (AGC) announces the merger of its financial unit SinglePoint Aircraft Finance and Aerolend.
SinglePoint Aircraft Finance (SinglePoint) and Aerolend specialize in providing private and commercial aircraft finance solutions.
Each company brings a niche approach and assets are complimentary of each other. SinglePoint has an established and enviable reputation for supplying capital to a broad range of private and commercial networks within the aviation community in the U.S., focusing on aging aircraft and traditionally difficult to finance transactions. Aerolend brings experience with the international markets having worked with buyers from over 25 different countries, ranging from private acquirers to commercial airlines and charter companies.
“The merger is part of AGC’s strategy to strengthen its position in the consumer aircraft business by providing greater economies of scale, flexibility and cost efficiency.” Tim Wilson, President of SinglePoint, highlights. “In addition, the company will benefit from market synergy, streamlined business monitoring, portfolio diversification and market expansion.”
The merged entity will remain branded as SinglePoint, and will continue to be a strategically important subsidiary of AGC Aerospace & Defense.
“Another added value is the wealth of experience in banking, and the intimate knowledge of aircraft and aircraft engines that will result from the union of key executive management from both companies” added Dave Cooperman, former President of Aerolend.
Tim Wilson, an established commercial lender with over 15 years of commercial banking experience in the aviation community, will continue to lead the operations and management of assets as President of SinglePoint. Dave Cooperman’s vast expertise in sourcing, structuring, negotiating and closing leases and loans will be put to practice as he leads the business development activity.
About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services supporting commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio include: intelligence services, financing, engineering, integration services, manufacturing, logistics, and aircraft modifications. Company’s portfolio is organized into four operating groups: AeroComposites, Finance, Integrated Defense, and Services.