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JZ Capital Partners sells Milestone Aviation Group

JZ Capital Partners Limited (JZCP) is to sell its equity interest in Milestone Aviation Group to GE Capital Aviation Services.

JZCP first invested in Milestone Aviation in September 2010, investing a total of USD15.1 million to date.
 
JZCP is expected to receive a total of USD40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36 per cent.
 
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 USD2.8 billion, which are leased to 31 operators in 25 countries.
 
JZCP has also purchased 21 per cent of Paragon Water Systems for USD9.2 million, a platform investment in its water vertical’s new filtration strategy. Paragon designs and manufactures portable water filtration systems for use in homes and commercial locations.

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