Transaction

Clearwater advises AerAdvise on its acquisition of Core Financial Systems Limited

Transaction

AerAdvise acquired Core Financial Systems Limited

Buy-side

Undisclosed

Role

Adviser to AerAdvise on its acquisition of Core Financial Systems Limited

Sector

Tech & Tech Services

Region

Ireland

Clearwater has advised AerAdvise, an independent aircraft management specialist, on its acquisition of Core Financial Systems Limited (Core), a leading financial software provider with a particular expertise in aircraft leasing, financial services, and the public sector.

Dublin-based AerAdvise is an independent technical consulting and asset management company serving high value aircraft leasing clients around the world. The company provides a suite of services to lessors and related parties, including new aircraft delivery management, repossession management, and a range of other regulated services to aviation customers.

Core was founded by Tony Salmon in 1998. The company has developed a range of proprietary software modules for aircraft leasing, industrial and government customers. Core is the largest Infor business partner in Ireland and has earned a reputation of deploying world class business solutions into their blue-chip client base and for being at the forefront of technology advancement.

The transaction will see both AerAdvise and Core Financial Systems operate as a separate but complimentary business under a group structure. The management team of Core, including founder Tony Salmon, are remaining with the company which expects to grow employee numbers significantly in the next 24 months. The group have a number of further acquisitions planned in both the aviation and non-aviation sectors, as the company builds out a comprehensive services platform built on a recurring revenue model. The business is aiming to grow revenue to €30-40m over the next 24 months through both an acquisition and organic growth strategy.

Existing shareholders in AerAdvise, are joined as shareholders in the enlarged group by Chirisa Investments.

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We're delighted to complete this deal which reflects very positively on the future outlook for our group. We would particularly like to extend our thanks to the Clearwater team who provided invaluable advice throughout the transaction process and helped deliver an excellent result for all parties.

Pat Toner, CEO, AerAdvise
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It was a pleasure working with both the Kouchin and AerAdvise teams throughout this process. With strong equity partners in both Chirisa and Kouchin, the group is well-positioned for further development through organic and acquisition growth over the coming years.

John Sheridan, Partner, Clearwater

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