Cleary Gottlieb represented Wafra in its $115 million acquisition of Hawthorne Global Aviation Services (Hawthorne), alongside its co-acquiror, NOVA Infrastructure (NOVA).
In connection with the acquisition, Cleary assisted Wafra in its negotiation of a joint venture with NOVA and represented the joint venture, as borrower, in a $50 million financing. The acquisition signed on December 31, 2021, and closed on March 15, 2022.
Hawthorne is an aviation services company and leader in general aviation services and aircraft management. Hawthorne provides fixed-base operator services, tailored charter solutions, turnkey aircraft management, and FAA approved aircraft maintenance.
Wafra is a global investment firm with diversified holdings constituting approximately $25 billion in assets under management across numerous business lines, with a key focus on real asset and infrastructure investments. Its real asset and infrastructure investing strategy targets investment opportunities across the telecommunications, transportation, and alternative real estate sectors.
NOVA is an infrastructure investment firm that targets middle-market opportunities in transportation, environmental services, energy and energy transition, communications, and other infrastructure sectors primarily in North America.