Industry

Published on June 24th, 2022 | by Alan Dwyer

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Elix Aviation Merges with ADARE Aviation Capital to Create Abelo

Dublin based Elix Aviation is to merge with ADARE Aviation Capital. Elix is owned by funds managed
by Oaktree Capital Management, which initiated the merger to enable further investment in the regional Turbo-prop sector and to introduce an experienced new leadership team. The merged companies will operate as Abelo, integrating Elix Aviation’s platform and Turbo-Prop portfolio with the management expertise of ADARE Aviation Capital.

Elix Aviation’s uniquely specialized platform is well-positioned to grow a market-leading presence in regional aircraft leasing and to continue its mission of innovation and dedication to the sector. The Elix team’s deep aviation expertise and a strong network of industry relationships will now be augmented
by ADARE’s management expertise. ADARE has proven capabilities and expertise in the regional aviation industry. Established in 2020 during the economic turmoil of the global pandemic, ADARE leveraged its in-depth knowledge and worked strategically with investors to seek out and generate above-market returns.

Commenting on the announcement of the deal, the Managing Director at Oaktree, Martin Graham said, “Elix Aviation has weathered the pandemic and is well placed to enter a new phase of growth. With the addition of ADARE Aviation Capital, we have formed a leadership team that has significant expertise and experience in regional aviation. We believe the synergy of the teams will enable Abelo to become a market leader, creating growth and value for its stakeholders. We look forward to supporting this exciting transition.”

Also commenting was Abelo’s new Chief Executive Officer, Stephen Gorman who added, “This merger comes at a unique time in the aviation cycle, so we are thrilled to be able to align with Oaktree and join forces with the team at Elix Aviation in the creation of Abelo. We remain committed to regional aviation and believe Abelo will be well placed to grow in the Turbo-Prop sector. There are a lot of changes expected in all areas of the business – especially in ESG – and we intend to be in the driving seat of progress. This is also an exciting time for the Elix Aviation employees joining us, as with the support of Oaktree, we plan to accelerate growth and become the go-to lessor of Turbo-Prop aircraft.”

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