The Globe and Mail reports in its Thursday edition that Martin Goldfarb and Alon Ossip, the two founders of Toronto private-equity firm Almada Inc., are jumping back into the aviation industry with an $80-million investment in five planes. The Globe's Andrew Willis writes that Almada will announce the acquisition of three used passenger planes -- two Bombardier Q400s and a Basler BT67 -- and has two other aircraft under contract, a Boeing 737-800 and an Airbus A321-200.
"Aviation finance is unique in that the assets are secure, movable and global," said Mr. Ossip, chief executive officer of Almada, and a long-time adviser to the Stronach family and a former executive at Magna International. Almada's founders have successfully owned software, consumer-products and real estate businesses in the past. They backed into the aviation industry after investing $12-million in private-label soap and detergent maker JemPak Corp. in 2011, then selling it in 2016 for $135-million to another private-equity company, Acasta Enterprises Inc. Mr. Goldfarb, best known for his marketing-research firm, Goldfarb Intelligence Marketing, and Mr. Ossip received half the JemPak sale price in cash, and the other half in Acasta shares.
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