Bregal Freshstream today announces its investment in TrueNoord, an independent aircraft leasing business that specialises in the regional aircraft market. Funds and accounts managed by Blackrock will be co-investing in the transaction alongside Bregal Freshstream.
Established in 2002 by CEO Anne-Bart Tieleman as GA-Finance, the Group with Bregal Freshstream’s support rebranded and launched as TrueNoord in June 2016. It provides financing solutions for regional aircraft and aviation projects globally.
The regional aviation sector represents a significant portion of the global aviation industry with approximately 50% of all passenger travel accounted for by journeys under 300 nautical miles. This is particularly the case in South East Asia and Latin America where growing populations and infrastructure challenges are driving demand for local air travel.
TrueNoord is well-placed to take advantage of the inherent growth potential of the regional aircraft leasing market and, since launching 12 years ago, has developed an extensive network of airline, technical, financial and OEM contacts.
Bregal Freshstream’s investment will allow the company to build upon its existing foundations, growing its fleet and diversifying through international expansion.
Anne Bart Tieleman, CEO and Founding Partner of TrueNoord, commented:
“The regional aviation sector is a highly specialised subsector of the wider aircraft leasing industry and one that we have worked hard over the past 12 years to establish a strong presence within. With Freshstream’s backing, we feel that we can build on the strong momentum we have generated to date as we look to expand into key growth markets such as Latin America and South East Asia where demand for regional aircraft is booming.”
Commenting on the investment, Bregal Freshstream Chief Investment Officer Rayhan Davis said:
“TrueNoord is well placed to see significant growth in a rapidly expanding and lucrative market. The company’s management team have a strong financial understanding of the dynamics shaping the market, first rate industry relationships and a track record of success. We are very excited about working with them.”