Press Releases

June 12, 2017

Wings Capital Partners Positioned for Growth with New Partner, Capital

 

Wings Capital Partners...

read more

Wings Capital Partners Positioned for Growth with New Partner, Capital

 

Wings Capital Partners announced today that Corrum Capital has taken an equity position in the company and that Two Sigma Private Investments, Wings’ original investor, has made an additional equity investment, moves that will accelerate growth of Wings’ commercial aircraft leasing business.

Corrum Capital, an active investor in mid-life narrow-body aircraft with Wings for nearly two years, has purchased an equity position in order to expand Wings’ committed capital base and facilitate significant growth for the company. Following the sale of equity, Wings ownership will consist of Two Sigma Private Investments, Corrum Capital and the Wings management team led by R. Stephen Hannahs.

“Wings Capital Partners is very pleased to welcome Corrum Capital as a new shareholder and we’re delighted to have an additional vote of confidence and investment from Two Sigma,” said Hannahs, managing director and chief executive officer for Wings. “Corrum Capital and Two Sigma bring a unique blend of financial expertise, market access and operating insight that will enhance our experienced team’s ability to achieve superior growth both operationally and financially.”

As a part of the transaction, Jason Cipriani, co-managing partner of Corrum Capital Management and J. Chandler Martin, senior advisor to Corrum Capital Management will join Wings’ board of directors along with Hannahs as well as Wray T. Thorn, chief investment officer of Two Sigma Private Investments and Mark Kleinman, operating partner from Two Sigma Private Investments.

“Becoming an equity partner is an exciting next step in Corrum Capital’s relationship with Wings Capital Partners and a natural progression of our asset leasing strategy that we have developed over several years,” said Cipriani. “We look forward to working together with Steve’s team and Two Sigma to execute on the significant pipeline of opportunities available to the company in an attractive market.”

“We are very pleased to welcome Corrum Capital as an investment partner in Wings,” said Thorn. “Steve and his team have built a great franchise, and these additional investments will enable Wings to continue to grow and maximize its enterprise value.”

After closing the pending acquisition of four aircraft, the total value of Wings’ aircraft portfolio will exceed $600 million and is projected to reach approximately $1 billion by year end.

read less
August 2, 2016

Wings Capital Partners Announces Additional Aircraft & New Investor

 

Wings Capital...

read more

Wings Capital Partners Announces Additional Aircraft & New Investor

 

Wings Capital Partners announced today the acquisition of nine commercial jet aircraft.

All of these aircraft either have been or will be acquired with the equity support of Two Sigma Private Investments, WCP’s founding investor, and investment funds managed by Corrum Capital Management LLC, a new investor for Wings Capital Partners. 

Debt financing is ‎provided by a $275 million secured loan facility arranged by Crédit Agricole Corporate and Investment Bank for eight aircraft and a secured term loan provided by DVB Bank SE for one aircraft. 

“We at Wings Capital Partners are very pleased to welcome Corrum Capital Management as investors in Wings Capital Partners and to bring these aircraft into our portfolio which now stands at approximately $500 million in assets,” says R. Stephen Hannahs, Managing Director and CEO. “Expanding our investor base, renewing our long-standing personal relationships with leading aviation banks Crédit Agricole and DVB Bank, and executing on these aircraft acquisitions, demonstrates the access, experience and capabilities our team brings to our business and the execution of our strategy.” 


read less
June 16, 2015

Wings Capital Partners Announces the Closing of a Secured Loan Facility

 

Wings Capital...

read more

Wings Capital Partners Announces the Closing of a Secured Loan Facility

 

Wings Capital Partners announced today the closing of a $200 million secured loan facility with Wells Fargo Bank, NA. The six year loan facility contains a revolving period of two years and can be upsized to $300 million. The facility will be used to acquire a portfolio of mid-life narrow body aircraft.

 “We are very pleased with the support Wells Fargo has shown to Wings Capital Partners with the closing of this loan facility,” says R. Stephen Hannahs, Managing Director and CEO of Wings Capital Partners. “This facility demonstrates the confidence of the banking community in our business and capabilities.”

read less
June 16, 2015

Wings Capital buys aircraft from Airbus S.A.S.

 

Wings Capital Partners announced today the...

read more

Wings Capital buys aircraft from Airbus S.A.S.

 

Wings Capital Partners announced today the purchase of a 2002 Airbus A320-200 adding to their growing portfolio. The aircraft was purchased from Airbus S.A.S., through their Asset Management Group and was subsequently leased to Iberia Express.

 “This acquisition builds upon long standing relationships we have with Airbus and we are delighted to have closed this transaction together,” says Christopher Dennis-Meyer, Managing Director of Wings Capital Partners. “We are pleased to be leasing the aircraft to the Iberia Group and we look forward to a long-term and growing partnership with the airline.”

read less
March 11, 2015

AvAir and Wings Capital Partners Announce Joint Venture Agreement

 

AvAir (Chandler, AZ), and...

read more

AvAir and Wings Capital Partners Announce Joint Venture Agreement

 

AvAir (Chandler, AZ), and Wings Capital Partners just announced the rollout of their new joint venture, AvWings, which will acquire mid-to-end of life aircraft, both on- and off-lease, for eventual partout.

AvAir, founded in 2000, is a respected leader in the aviation aftermarket, offering airlines, OEMs, MROs and stockists an extensive array of products and services plus unrivalled, personalized customer service and support. Wings Capital Partners, founded in 2013 by R. Stephen Hannahs and Two Sigma Private Investments, is a boutique aviation investment firm focusing on mid-life commercial jet leasing.

“This partnership adds a tremendous level of predictability to our product offering,” begins AvAir President Mike Bianco. “In the past it was difficult to predict the products we’d have to support our customers prior to winning a bid. Now, we have much larger financial capability to acquire assets for partout, plus access to a full service leasing company that allows us to acquire on-lease aircraft. As a result, we can now give our customers a more accurate forecast of material coming down the pipeline.”

With over 1600 customers in 60 countries, AvAir offers a strong and loyal customer base for Wings Capital Partners to leverage. “Wings Capital Partners was founded to bring more institutional capital to the mid-life aircraft leasing market,” said founder and CEO R. Stephen Hannahs. “This joint venture with AvAir gives us access to their deep understanding of aircraft residual values as well as an integrated end-of-life solution for the aircraft we acquire.”

A natural fit for AvAir and Wings Capital Partners, the announcement of AvWings comes at a particularly momentous time for AvAir, which is just weeks away from moving into its new 180,000 square foot state-of-the art flagship headquarters.

read less
October 8, 2013

Wings Capital Partners is launched

 

R. Stephen Hannahs and Two Sigma Private Investments...

read more

Wings Capital Partners is launched

 

R. Stephen Hannahs and Two Sigma Private Investments today announced the formation of Wings Capital Partners (WCP), a firm that will focus on making investments in and providing strategic advice and financing to the aviation industry.

Wings Capital Partners will, among other things, seek to purchase mid-life and end-of-life aircraft where the WCP team has relationships with counter-parties, equipment knowledge or a market view. In addition, WCP will make opportunistic investments, including private equity, where it has particular insight and can be a value-added owner.

Hannahs co-founded the Aviation Capital Group (ACG) in 1989, and served as its Chief Executive Officer as the company grew into a leading global aircraft lessor with a portfolio of more than 250 aircraft and over 90 airline customers in 45 countries.

Christopher Dennis-Meyer, who previously worked with Hannahs at ACG and most recently served as Senior Vice President of Intrepid Aviation, has also joined WCP as Senior Vice President and Partner.

“Steve Hannahs is an aviation industry veteran and innovator who established an extraordinary record of success at ACG,” said Brian Modesitt, Managing Director in Two Sigma's Private Investment group. “We are excited to join with Steve and his team at Wings Capital Partners and to provide a flexible capital base that will allow WCP to execute its business plan and vision.”

“We are delighted to be partnering with Steve and Chris in this new venture,” said Wray Thorn, Chief Investment Officer of Two Sigma's Private Investments group. “We believe that WCP is well positioned to take advantage of attractive investment opportunities in the aviation industry.”

“This is a great opportunity to partner with Two Sigma,” said Hannahs. “This partnership will bring a unique form of flexible capital to an industry that continually seeks innovative ways to finance itself. Two Sigma has already demonstrated a forward looking vision in the deployment of capital in our commitments to a variety of different projects. WCP will be a boutique aviation investment firm.”

read less