The principal of Project Piston (Piston) is seeking a new owner for their nationally recognized aircraft lending business. Piston is a founder-led company that has been in operation for 23 years and specializes in originating and servicing single and light twin engine aviation loans to business owners and professionals across the US. Piston possesses an attractive recurring revenue model with a long track record of superior credit quality.
Additional Highlights:
– Highly diversified portfolio with no current delinquencies
– Long, established banking relationships that purchase loan production on a servicing retained basis
– History of consistent loan generation (Over 2,300 loans/$350 mm generated since inception)
– Large, demographically attractive customer base
– Complementary insurance business that adds depth to fee income model
– Operates within fragmented industry with multiple growth levers available to a new owner
Piston represents an opportunity to leverage an established and scalable specialty lending platform that can be expanded to capture additional market share as well as move up-market for larger aircraft credits. The Company’s principal anticipates providing a transition period to a new owner.