Amentum completes MBO

Amentum completes MBO

Amentum announced today the successful completion of a management buyout from its former parent HSH Nordbank

Press Release

8 January, 2013

Amentum completes MBO

Amentum, the Dublin based commercial aircraft asset management company, announced today the successful completion of a management buyout from its former parent HSH Nordbank. The buyout was led by Jan Melgaard (Executive Chairman), Dr. Martin Bouzaima (CEO) and Mitchel Simpson (CFO), joined by Simon Clements (Head of Sales), Rory Hensey (Head of Technical) and Jean O’Driscoll (Head of Legal).

The deal completes the full evolution of Amentum, originally conceived seven years ago as the aviation asset and remarketing arm of HSH Nordbank to manage its aircraft leases. It has since progressed from captive lessor to dedicated third party asset manager with a diversified customer base of financial institutions. Its portfolios under management currently comprise 48 aircraft valued at US$ 2.3 billion. With an excellent track record and a strong management, its intention is to further increase the managed fleet in 2013.

“We are delighted to ratify this MBO with Amentum’s senior management team which has successfully taken the company from strength to strength these past few years. We look forward to continuing our excellent working relationship with Amentum as they provide remarketing and advisory services for us in the future,” said Angela Behrend-Görnemann, Global Head of Aviation from HSH Nordbank.

“Newly independent, we will be able to build on our strength in the marketplace as one of the top 20 aircraft lessors, calling on our expertise as dedicated third party asset and investment manager,” said Martin Bouzaima. In light of continuing interest by institutional investors to deploy additional capital in aircraft assets Amentum plans to broaden its activity with more deals in 2013 and works on several prospects as the new year starts.

“We intend to seek out further mandates for restructuring and remarketing services for aircraft lenders and will continue to provide credit and industry research for lessors and investors,” added Mitchel Simpson, highlighting the second area of expertise where Amentum has recently added additional customers.

The organization was bolstered in 2010 by the arrival of Jan Melgaard, former CEO of Nordic Aviation Capital and Volito Aviation. “Amentum is one of the largest dedicated 3rd party managers with a complete leasing platform. The team has furthermore proven itself during recent years with an excellent track record in key areas such as repossessions and redeployments,” said Jan Melgaard.

In conjunction with the MBO Amentum announced today that Pat O’Brien has joined the board of the company. Pat O’Brien, ex KPMG and preeminent tax specialist in the industry will serve alongside Margaret Clandillon as a non-executive director.

Editor’s notes

  • Founded in 2005, Dublin based Amentum has steadily grown into the ranks of the top 20 global aircraft lessors (15th in the UBM Aviation Aircraft Finance Guide 2012). It is unique as a dedicated third party asset manager.
  • Amentum currently manages portfolios with a total of 48 aircraft. It supports 16 airlines – flag carriers, LCCs, passenger and cargo airlines – across 12 countries in Europe, Latin America, Asia and the Middle East. Customers include Aegean, AeroLogic, Air Europa, Air France KLM, Air India, British Airways, China Southern, easyJet, Emirates, Hamburg Airways, Lion Air, Olympic, Royal Jordanian, TUI, Vietnam Airlines and Volaris.
  •  Amentum currently manages 12 aircraft types – Boeing 737-700, 737-800, 737-900ER, 747-400ERF, 777-200F, 777-200LR, Airbus A319-100, A320-200, A321-200, A330-200, Embraer E190 and Bombardier CRJ700.
  • In addition to aircraft asset and investment management, Amentum manages aircraft repossessions, divestments and remarketing for its banking customers and provides airline credit and aviation industry research for another major lessor.

Amentum’s Senior Management Team

Executive Chairman: Jan Melgaard (Danish) is the former CEO of Nordic Aviation Capital and Volito Aviation. He brings 20+ years’ experience in aviation leasing and finance to the company.

CEO: Dr. Martin Bouzaima (German) worked in the Aviation Finance and Corporate Strategy departments of HSH Nordbank before joining Amentum. He previously worked in academic research in finance and economics.

CFO: Mitchel Simpson (Irish) previously headed up the Structured Asset Finance Division of De Lage Landen, part of the Rabobank Group, specialists in large ticket leasing of transportation assets.

Head of Sales: Simon Clements (British) worked for Airbus, AJ Walter Aviation and GMT Global before joining Amentum.

Head of Technical: Rory Hensey (Irish) started his career with Airbus in customer support and later on worked with Siemens Gas Turbines, Pratt & Whitney and Aer Arann.

Head of Legal: Jean O’Driscoll (Irish) was General Counsel for Greenstone Aviation and Head of Commercial Negotiation for RBS Aviation Capital. She previously worked with Norton Rose in Paris.

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