Gecas Moves Into Helicopter Leasing with Milestone Takeover | Aviation International News

Gecas Moves Into Helicopter Leasing with Milestone Takeover

GE has paid $1.775 billion and has assumed Milestone’s debts.

By Charles Alcock • Managing Editor

February 2, 2015

The numbers and the business rationale behind the recently completed acquisition of helicopter leasing group Milestone Aviation by GE Capital Aviation Services (Gecas) are fascinating. Richard Santulli, the father of fractional ownership, founded the Ireland-based company in August 2010 by raising approximately $500 million in launch capital with a consortium of investors led by The Jordan Company private equity group. Just over four years later, he convinced Gecas to pay $1.775 billion and cover Milestone’s debt as the price of entry to a market segment in which Gecas has not previously been involved.

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