JZ Capital Partners to sell stake in Milestone Aviation Group
JZCP first invested in Milestone Aviation in September 2010, investing a total of $15.1 million to date. JZCP is expected to receive a total of $40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36%.
Milestone Aviation is the world's largest helicopter leasing company headquartered in Dublin, Ireland. The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to emergency and search and rescue services. It has a fleet of more than 168 helicopters worth $2.8 billion, which are leased to 31 operators in 25 countries.
JZCP is also pleased to announce that it has purchased 21% of Paragon Water Systems ("Paragon") for $9.2 million, a platform investment in our water vertical's new filtration strategy. Paragon designs and manufactures portable water filtration systems for use in homes and commercial locations. ■