February 28, 2013

Exchange Income to acquire Regional One for $80m

Exchange Income Corporation has signed a stock purchase agreement to acquire all of the shares of Regional One, a privately-owned US company that is a leading provider of aircraft and engine aftermarket parts to regional airline operators around the world. The acquisition is valued at approximately $80m, subject to adjustments for taxes, and will be funded through the issuance of the Corporation’s common shares and debt financing. The acquisition is expected to be immediately accretive to the Corporation’s earnings per share and free cash flow per share. The closing of the transaction is subject to receipt of regulatory approvals and other standard conditions. The transaction is expected to close by April 1, 2013. Regional One was founded in 2004 and has three main revenue streams being direct sales of parts, aircraft, engines and other related equipment to regional airlines, consignment sales of customers’ surplus parts inventory and leasing of aircraft, engines and equipment to regional airlines. Regional One operates out of a 60,000 ft² office and warehouse facility in Miami , Florida.



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