Howard Wolf

Experts in the helicopter industry have joined together with Perella Weinberg to form Lobo Leasing, a new joint venture that seeks to provide lease financing for helicopters and helicopter-related assets.

Howard Wolf, Bill Wolf, John Contas and Bruce Mauldin - who have decades of experience in the helicopter industry - will form the seasoned management team for Lobo Leasing.

The team possesses direct experience in acquiring, operating, maintaining and selling helicopters, and so will go far beyond merely offering a leasing service.

Aside from his aviation history, Howard Wolf has also undertaken the vast task of remodelling the Texas Department of Transportation.

The joint venture is also able to offer, through its extensive network of associates and partners, parts sourcing, MRO (maintenance, repair and operations) support and insurance.

In the helicopter market, leasing enables customers to stretch their capital further and compete for lucrative contracts. The main markets include oil and gas exploration; search and rescue operations; air medical service, Coast Guard and other government contacts, and utility work.

As opposed to the private jet industry, which was badly hit by the financial crisis, the helicopter industry remained more stable. While companies cut back on luxuries such as private jets, they still needed the helicopters that were instrumental to the business, such as flying oil company employees out to the rigs.

Lobo Leasing will primarily focus on pre-owned helicopters but will offer some new aircraft for lease agreements. The firm will also purchase and lease older machines that can have significant value added through renovation and upgrades.
 

Bill Wolf, president and CEO of Lobo Leasing said: “This joint venture pairs Perella Weinberg Partners’ Asset Based Value strategy’s institutional strength and relationships with the management team’s market presence and industry expertise to serve the capital intensive helicopter market.”

The joint venture will offer 100% lease financing on pre-owned, new and sale-leaseback transactions.

Perella Weinberg Partners’ Asset Based Value strategy is a post-financial crisis provider of US specialty finance solutions. Since its inception in 2008, the strategy has grown to manage in excess of $1bn in equity capital through a number of different investment vehicles.

Capital for the strategy is contributed by, among others, a diversified group of institutional investors.