Private equity-backed Avolon files for $100m IPO

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avolonPrivate equity-backed aircraft leasing business Avolon Holdings has filed to raise $100m via an IPO.

JP Morgan, Morgan Stanley and Citigroup are acting as underwriters for the IPO, according to a document filed with the US Securities and Exchange Commission.

All of the shares offered via the IPO will be sold by the company’s existing shareholders including private equity firms Cinven, CVC and oak Hill.

The Dublin-based company has a portfolio of 202 aircraft as at the end of March this year including 105 owned, 10 managed and 87 committed aircraft.

Last year Avolon posted net income of $112.8m on revenues of $449.8m and in the first quarter of this year the company reported revenues of $135.8m and income of $36.4m.

Earlier this year Avolon secured a new $500m secured loan facility to back its growing fleet of aircraft.

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