Aviation leasing company LCI has agreed to acquire Nova Capital Aviation (Ireland), a business unit that represents the twin engine rotary and fixed wing aircraft lease division of the Nova Capital Group. Single engine operations remaining within the Group.

The acquisition will result in a substantial expansion of LCI's leasing platform to over 140 twin engine rotary and fixed wing aircraft. It will also take the proportion of aircraft deployed on emergency medical services, search and rescue, offshore wind and utility missions, to over 80 per cent of the entire leasing platform.

LCI executive chairman Crispin Maunder says: “The Nova brand is highly regarded and is a major presence in the mission-critical EMS market, which perfectly complements our own. Our agreement reflects the current trend towards industry consolidation and is testament to the robust leasing platform we have built. It expands our customer base, introduces new aircraft types to our fleet and cements LCI's long term commitment to growth.”

Last year, Nova Capital added eight factory-new twin engine EMS helicopters valued at over $90 million, reaching a total fleet value of $0.5bn at year end 2021. It will now focus on the development of its single engine helicopter, light utility fixed wing aircraft and other advanced air mobility operations in partnership with LCI.

Nova Capital founder and CEO Olivier Piot says: “Over 20 years, we have developed a market-leading leasing operation that specialises in providing asset financing solutions to helicopter and fixed wing aircraft operators, primarily in onshore mission critical services. We are delighted to conclude this agreement with such a complementary business as LCI. Its proven leasing platform, extensive experience in both the fixed wing and rotary wing leasing markets, and immersion in mission-critical helicopter operations, makes it a natural choice. I am looking forward to continuing Nova Capital's journey under this new set up and this exciting partnership.”