Macquarie Group Limited has announced Macquarie Rotorcraft Leasing has completed the acquisition of a helicopter portfolio from Waypoint Leasing Holdings Ltd. and its subsidiaries.

The portfolio acquired from Waypoint comprises 120 medium and heavy helicopters leased to approximately 30 operators as well as firm and option order positions with Airbus Helicopters. Former Waypoint staff are transferring to Macquarie Rotorcraft Leasing, further extending the scale and capability of Macquarie’s existing asset management platform.

Macquarie Rotorcraft Leasing Chief Executive Officer John Petkovic said: “This is a transformational opportunity for Macquarie Rotorcraft Leasing. The strategic acquisition of a diversified helicopter fleet, combined with the experience of our expanded team and the support of the wider Macquarie Group uniquely positions Macquarie Rotorcraft Leasing as a leader in the development of the helicopter leasing and financing sector. We will be looking to assist our customers to expand their businesses across a range of sectors with the right financing options and assets.”

Macquarie’s Head of Transportation Finance, Stephen Cook said: “This significant expansion of Macquarie’s helicopter business is a strong endorsement of our strategy in the transportation sector. Macquarie’s combined financial and specialized asset management expertise offers innovative solutions for customers in the transportation asset finance space.”

The acquisition was funded from existing internal Macquarie Group funding sources.

Waypoint had agreed in December to sell its assets to Macquarie for $650 million.