Amentum Capital sells 25% stake to Tokyo-based investor

Dublin-based aircraft management group Amentum Capital Ltd has sold a 25 per cent stake in the business to Tokyo-listed Financial Products Group (FPG) for an undisclosed sum.

This is part of a “strategic co-operation to provide innovative aircraft investment solutions to investors in Japan”, the companies said in a joint statement yesterday.

Speaking to The Irish Times, Amentum's chief financial officer Mitchel Simpson said: "What they bring to the party is that they are one of the largest arrangers of Japanese equity to finance Japanese operating leases."

This is Amentum’s second change of ownership in a year. In December 2012 HSH Nordbank sold the business to the management team. According to its annual accounts, HSH Nordbank recorded a loss of €1.9 million from this “deconsolidation”.

Latest accounts for Amentum show the German company received a dividend from the Irish business of €1.25 million before the management buyout occurred.

Amentum made a pre-tax profit in 2012 of €873,842, up from €542,279 in 2011. Operating income declined by 2.2 per cent to €4.7 million.

Set up eight years ago, Amentum manages a portfolio of 46 aircraft worth about $2 billion. Clients include Air France KLM, British Airways, EasyJet and Emirates.