Financial details for the deal, which was rumoured to be in the works last month, were not disclosed.
Bloomberg reported at the time that LDC, the buyout unit of Lloyds Banking Group, and AIM’s management could receive as much as £160m from the sale.
Bournemouth, UK-based AIM’s client base includes Emirates, Virgin Atlantic and Boeing.
The transaction is subject to regulatory approval and is expected to be completed in the fourth quarter of 2013.
TowerBrook spun out of Soros Fund Management in 2005 and went on to ink a number of successful deals such as the acquisition of luxury footwear maker Jimmy Choo from Lion Capital in 2007, which was subsequently sold for a return of three times.
In February this year TowerBrook closed its fourth fund at its hard cap of $3.5bn. AltAssets reported that the fundraise took only four months.
Copyright © 2013 AltAssets