StockMarketWire.com - JZ Capital Partners Limited has announced an agreement to sell its equity interest in Milestone Aviation Group to GE Capital Aviation Services.

JZCP first invested in Milestone Aviation in September 2010, investing a total of US$15.1m to date.

JZCP is expected to receive a total of US$40m from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36%.

Milestone Aviation is the world's largest helicopter leasing company headquartered in Dublin, Ireland.

The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to emergency and search and rescue services. It has a fleet of more than 168 helicopters worth US$2.8bn, which are leased to 31 operators in 25 countries. JZCP also announced that it has purchased 21% of Paragon Water Systems for US$9.2m, a platform investment in our water vertical's new filtration strategy. Paragon designs and manufactures portable water filtration systems for use in homes and commercial locations.




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