The all-cash deal, which has received regulatory approval from the UK Financial Conduct Authority, will see Stratos acquire Magi in its entirety, and is expected to be completed in the coming weeks, the firm said in a statement.

As part of the acquisition, Stratos will inherit management contracts of four aircraft leased to Middle Eastern airlines. This takes Stratos’ managed portfolio to over 60 aircraft worth $3 billion with annual rental receipts in excess of $300 million.

Stratos will also be welcoming Magi’s team of aviation finance and leasing specialists, taking the total Stratos team to over 30 professionals. The Magi team includes industry veterans Neil Lewis as head of operations, Jason Bewley as head of business development, Fraser Chestney as SVP corporate finance, Jelena Stefanovic as SVP corporate finance, Annika Hansson as VP lease management, and Tina Richards as financial controller.

Peter Vardigans, Magi co-founder and current executive chairman, will continue as part of the combined team in an advisory capacity. 

The Magi team has arranged and closed $2.5 billion of – mainly wide-body – lease financings since 2015, most of which were originated by Magi directly with airlines.

The deal will also see Stratos acquiring offices in London, Doha and Brisbane, to add to its existing presence in Shannon, Monaco and Tokyo. Furthermore, Stratos will inherit fund-related licences including UK FCA-regulated activities to complement Stratos’ existing servicer ranking from Standard & Poors.

The acquisition complements Stratos' expertise, including a combined remarketing/sourcing track record of 120 aircraft valued at $6.5 billion and total financing of $3.8 billion raised over the past decade. 

Gary Fitzgerald, CEO, Stratos said:“We are delighted to welcome the Magi team into the Stratos family. Magi has accrued an impeccable track record in equity and debt investments on the largest wide-bodies, delivering consistent profits to its investor base and a particularly strong presence in Korea and the Middle East with both airlines and investors.”

Stratos is also active in aircraft sourcing and re-leasing and performs strategic fleet analysis for airlines and investors as part of its comprehensive range of services.