December 1, 2014
Aviation Finance Company Parent Stellwagen buys stake In Volito Aviation Services
Stellwagen Finance Company, the parent company of Aviation Finance Compan (AFC) of Dublin, Ireland announced the purchase of Volito Aviation Services A.B. (VAS) of Sweden together with its Irish subsidiary. The acquisition will be completed in two stages and the first stage is now completed. This acquisition represents another step in the evolution of AFC’s aviation finance and investment business by broadening its ability to offer aircraft servicing capabilities. Douglas Brennan , Chief Executive Officer of AFC said, “The acquisition of Volito nicely complements AFC’s financing operations and strengthens our ability to serve our investors by enhancing our ability to offer a wide range of aircraft management services from sourcing and re-marketing aircraft and engines to aircraft maintenance surveillance, collection or repossession capabilities and more.” Volito manages aircraft assets for VGS and various other third parties, but none of these aircraft assets were purchased. The Volito name will be changed to Guardian Aviation Services Limited during 2015 upon completion of the second phase of the acquisition.