Aviation consultancy purchase commences, backed by legal consultation from Bird & Bird
Willis Mitsui & Co Engine Support Limited (WMES), a joint venture between Japanese trading company Mitsui & Co and aircraft lessor and servicer Willis Lease Finance Corporation, has announced the acquisition of Bridgend Asset Management Limited (BAML). The deal, advised by international law firm Bird & Bird, marks a significant consolidation within the aviation asset management industry.
Background
The acquisition involves the transfer of BAML's consultancy and advisory expertise into WMES. Post-transaction, BAML was renamed Willis Mitsui & Co. Asset Management Limited, reflecting its integration and expanded role within WMES. Willis Lease Finance Corporation, a leading lessor of commercial aircraft engines and provider of aviation services, sold its UK-based consultancy unit to its joint venture with Mitsui & Co, ensuring continued collaboration and integration of services. WMES, headquartered in Dublin and established in 2011, manages approximately $380 million in aviation assets.
Impact on Aviation Asset Management Industry
The acquisition integrates technical consultancy and records management services into WMES’s aviation asset management platform, bolstering its operational efficiency and service depth. This integration is expected to improve asset lifecycle management and maintenance reserve revenue streams, contributing to more robust asset utilization and risk management.
By consolidating asset management and consultancy functions, WMES strengthens its market positioning, enabling the joint venture to better support Willis Lease's leasing operations and pursue new growth avenues within aviation finance. This is aligned with Willis Lease's broader strategy of capitalizing on structural trends in aviation leasing and maintenance reserve revenue growth, as well as expanding its service portfolio.
The deal underscores a growing trend of joint ventures and strategic partnerships in aviation asset management, blending operational expertise with financial and legal resources to enhance scalability and competitive advantage. It exemplifies how aviation lessors are evolving beyond pure leasing to incorporate integrated asset management and consultancy services, creating more comprehensive solutions for airline clients and investors.
Summary
The acquisition of BAML by WMES, under the legal guidance of Bird & Bird, marks a transformative step in aviation asset management. It solidifies WMES’s platform by merging advisory and consultancy capabilities, driving efficiency and broadening market reach. This deal not only strengthens Willis Lease's leasing business but also reflects broader industry shifts toward integrated, collaborative asset management models that respond to complex aviation market demands.
The advisory team from Bird & Bird was led by corporate partner Brendan O'Brien, senior associate Will Holder, and associate Daniel Faulkner. Austin C Willis, CEO of Willis Lease, sees the acquisition as a milestone for the company and its partnership with Mitsui, and the first step towards closer collaboration and significant growth in their joint venture, WMES. Yuichi Nagata, general manager of Mitsui & Co Ltd's aerospace business division, believes the transaction deepens their collaboration with Willis Lease and expands the scope of WMES, positioning them to better serve the growing demands of the global aviation market. The transaction was completed on 30 June 2025.
- The acquisition of Bridgend Asset Management Limited (BAML) by Willis Mitsui & Co Engine Support Limited (WMES) signifies a strategic shift within the aviation finance sector, as the joint venture aims to consolidate consultancy and advisory functions to enhance its operational efficiency.
- The transaction, which was completed under the legal guidance of Bird & Bird, represents a significant development in the business realm, as WMES expands its role in aviation asset management, strengthening its market position and bolstering its ability to support Willis Lease's leasing operations.
