DMS Governance announced the acquisition of Aviation Corporate Services Limited, an Irish based aviation corporate services company.
The fund governance and compliance firm said the deal ensures that it keeps pace with client growth and the significant expansion of its structured finance business. The acquisition also allows DMS to extend its current range of corporate structures, partnerships, and trusts, and provides greater flexibility for aviation transactions.
Derek Delaney, Global Chief Operating Officer at DMS said: “We are extremely pleased to add the experience and expertise of AvCS to our existing structured finance services. The acquisition will be integral to our growth within this market, strengthening our product offering and giving us a point of difference from our competitors.”
The recent rapid expansion of private capital into the aviation leasing market has left the private fund industry looking for high-quality corporate service providers to serve the ever-increasing use of special purpose vehicles in the aviation leasing market, DMS said.
The firm advises on the best structure for transactions and provides local lawyers and tax advisers with the appropriate aviation experience.
Industry veterans Niall McNamara and Frank Dowling and their team of nine aviation specialists join the DMS AvCS team.
Mr. McNamara, chief executive officer of AvCS, said: “The AvCS business has been built on a partnership platform with our clients. Frank and I are delighted to have found a strong strategic partner in DMS Governance that complements this partnership approach. DMS brings the professionalism, global reach and energy to move the business to the next level of service offering for the aviation and corporate services market.”
DMS Governance also announced it will create 50 new jobs for highly skilled financial service professionals and qualified accountants in Cashel Co. Tipperary.
Between its Dublin expansion and the creation of new roles in Cashel, this will bring DMS’ commitment to jobs Ireland to 150. The project is supported by the Irish government through IDA Ireland, the Industrial Development Authority.
Mr. Delaney said there is a convergence of industries becoming part of mainstream financial services including aviation, shipping and rail. “Investors are seeking increased exposure to hard assets, and hedge funds have become a valid alternative to mainstream lenders, with the differences between regulated and unregulated sectors lessening.”
He also noted that the expansion will be across all of the firm’s product ranges. “The strong legal and regulatory landscape in Ireland, combined with DMS’ proven expertise and committed staff allows our Ireland operations to continue to grow to meet the demands of our client base,” Mr. Delaney said.