Cloud Investment Partners and Heritage Global Partners Lead Successful Global Online Auction Sale of Lufthansa Technik Airmotive Ireland (LTAI) Dublin Plant Assets as Results Exceed Expectations
SAN DIEGO, California and Dublin, IRELAND – June 5, 2014 – Cloud Investment Partners, a global organization with expertise in the aerospace industry with its co-partner, Heritage Global Partners –announced today the global online auction of the Lufthansa Technik Airmotive Ireland (LTAI) Plant assets (Dublin, Ireland) – was a resounding success with total receipts significantly exceeding owners’ expectations.
Other highlights of the auction:
- 420+ bidders
- 245+ buyers from 11 countries across three continents
“We are very pleased with the final results of our sale of LTAI’s plant assets, which featured a wide range of engineering, inspection, test equipment, works transport and additional items. This was truly a global auction in every sense of the word, with interested bidders for more than 1800 lots from around the world,” stated Ross Dove, Managing Director, Heritage Global Partners. “We were delighted to once again join forces with David Weiss and the Cloud Investment Partners team given their extensive expertise in the aerospace sector and we also benefited from the local auctioneering experience of E-Auctions.”
David Weiss, Partner of Cloud Investment Partners, stated, “This marks the third successful collaboration between Heritage Global Partners and Cloud Investment Partners within the past 18 months. Our other Engine MRO asset sales included AVEOS and LTQ (Lufthansa Qantas JV). We look forward to working with the HGP team in the near future as we seek to jointly maximize the valuations of aerospace-related assets on behalf of our mutual clients.”
For LTAI, Mal Cowley noted “We are very pleased with the auction results for Lufthansa Technik Airmotive Ireland and were impressed with the professional manner in which HGP and Cloud worked with our staff to deliver value and meet timelines in what proved to be a highly complex operation.”
Cloud has maintained a focus on aviation assets as the foundation of its investment strategy.
We ara global company that acquires leases and sells commercial aircraft to customers throughout the world. From time to time, we also make investments in other aviation assets.
Our business is managed by a team of aviation professionals with extensive industry experience, Through offices in the US and UK, we provide our customers with an exceptional level of service with global coverage and local market knowledge.
Cloud employs a balanced approach to investment and capitalization, factoring in industry cyclicality and other global and regional market dynamics. We focus on medium to long-term investments. Our diversified fleet includes Boeing and Airbus aircraft in both passenger and freighter applications. Our professionals have extensive experience with aircraft finance, leasing and investment management.