ORIX Aviation has signed an agreement to acquire AerFin, the Newport-headquartered aviation aftermarket specialist, for a consideration understood to be approximately £475 million including debt; the transaction is subject to regulatory approval and is expected to complete by year-end 2026.

ORIX Aviation is a Dublin-headquartered aircraft leasing and asset management company established in 1991, wholly owned by ORIX Corporation (NYSE: IX, TSE: 8591), the Tokyo-based global financial services group with over $400 billion in group assets under management. ORIX Aviation owns a fleet of over 245 aircraft, holds a 30% stake in Avolon, one of the world's three largest lessors, and manages combined aviation assets under management exceeding $25 billion.

AerFin was founded in 2010 by Bob James, headquartered at Indurent Park, Newport, Wales, with facilities in Miami, Singapore and Dublin, employing more than 230 people. AerFin reported 2025 revenue of approximately £276 million, up 25%, and EBITDA of more than £52 million, up 33%. CataCap, the Danish private equity firm, has been the majority shareholder. Advisors: Goldman Sachs International and Gibson Dunn (ORIX Aviation); Rothschild & Co and Baker McKenzie (AerFin); Osborne Clarke and Liberty Corporate Finance (management team).

The structural driver is the aircraft part-out cycle. Approximately 4,000 aircraft entered storage or end-of-life processing between 2020 and 2025, and the post-Covid recovery compressed the normal retirement cycle as airlines sought used serviceable material amid Boeing and Airbus production backlogs.

AerFin's model, acquiring whole aircraft and engines and extracting value through trading, green-time leasing and component sales, is structurally advantaged in this environment. ORIX Aviation currently lacks that capability; its platform covers leasing and asset management, not part-out. The acquisition closes the gap across the entire aircraft lifecycle, from entry into service through to end-of-life asset optimisation.

For CataCap, the exit at approximately 9.1x EBITDA on a business that has doubled revenue during its ownership validates the aftermarket thesis it backed when acquiring AerFin in 2019.

For Ireland, the transaction reinforces Dublin's position as the global centre of aircraft leasing and aftermarket finance. ORIX Aviation's Dublin headquarters and AerFin's existing Dublin presence mean the combined entity's strategic decision-making will remain anchored in Ireland's aviation cluster alongside SMBC, AerCap, Avolon and Air Lease.

Source: aerfin.com / britbrief.co.uk / orixaviation.com / catacap.dk