Aquila Air Capital (“Aquila”), a leading engine leasing company, announced today a significant investment from funds managed by Wafra Inc. (“Wafra”), a global alternative asset manager based in New York. Wafra has entered into a definitive agreement to acquire Aquila from Warburg Pincus, a global growth investment firm. As part of this transaction, Wafra will secure a controlling interest in Aquila and provide substantial capital to fuel the company’s continued expansion. This investment will support Aquila’s mission to acquire, sell, finance, and lease aircraft, engines, and other aviation assets. The deal is expected to close in Q4 2024, pending regulatory approvals.
Aquila, founded in 2021 by Warburg Pincus, CEO Al Wood, and Kepler Hill Capital, was established to seize a key market opportunity in commercial aerospace. Initially focused on acquiring, financing, and leasing mid- to late-life aircraft and engines, Aquila has since evolved into a full-service leasing platform with in-house capabilities in origination, lease management, and technical oversight. Over the past three years, Aquila has built a strong reputation across the aviation asset value chain, offering innovative and timely solutions to industry stakeholders.
Adel Alderbas, Chief Investment Officer at Wafra, commented, “Our partnership with Aquila represents a strategic expansion of our infrastructure portfolio. Aquila has developed a unique business providing essential equipment solutions to a global customer base of premier airlines.” Edward Tsai, Managing Director at Wafra, added, “This investment builds on our extensive experience in transportation asset leasing and equipment finance, not only in aviation but also in intermodal, railcar, trailer, chassis, and shipping. We are excited to collaborate with Al and the talented Aquila team to enhance the company’s value and accelerate its growth.”
Al Wood, CEO of Aquila Air Capital, expressed his gratitude to Warburg Pincus, stating, “We are thankful for Warburg Pincus’ support and belief in our vision over the past three and a half years. This partnership with Wafra marks an exciting milestone that will allow us to accelerate our expansion, introduce new products and services, and broaden our global customer base.”
Dan Zamlong, Managing Director at Warburg Pincus, remarked, “Under Al’s leadership, Aquila has grown into a market-leading aviation leasing and financing platform with deep technical expertise. We are proud of the scaled portfolio of aircraft and engines we’ve built together and are confident the company will continue to thrive with Wafra’s backing.” Eric Friedman, also Managing Director at Warburg Pincus, added, “We look forward to watching Aquila’s next chapter unfold.”
Aquila will continue to operate as an independent entity under its current leadership team. Financial terms of the deal have not been disclosed. Additionally, Atlas SP Partners, majority-owned by Apollo funds, will provide a credit facility to support Wafra’s acquisition of Aquila and fund its future growth.