Pembroke Group

GATX Purchase 50% Equity Stake in Pembroke Group

January 30, 2001

Pembroke Group Limited, the aircraft lease, finance and management group headquartered in Dublin, today confirmed that GATX Capital has agreed to purchase a 50% equity stake in the company for an undisclosed sum. GATX will purchase the equity stake currently owned by International Investment and Underwriting Limited, Pembroke management and founders. Following the transaction, the company will be owned and controlled on a 50/50 basis by Rolls-Royce plc and GATX. Pembroke's existing management team, led by Chief Executive and co-founder Mr. Shane Cooke, will remain in place and will continue to manage and develop the business from Ireland.

Pembroke Group was founded in 1993 and in 1998 Rolls-Royce became a 50% shareholder with the merger of Rolls-Royce's aircraft leasing interests. Combining Pembroke's existing portfolio of 145 aircraft with that of GATX makes Pembroke part of a group with interests in more than 400 aircraft.

Shane Cooke, Chief Executive of Pembroke said: "We are delighted that GATX will become a 50% shareholder in Pembroke along with Rolls-Royce, enhancing our ability to provide the products and services our customers require and assisting us with our plans to expand our business." On recent trading activity, Mr. Cooke confirmed that Pembroke took delivery of its fourth B717 aircraft, which was leased to Athens based Olympic Aviation, and committed to a further two B717 aircraft by exercising options. This brings Pembroke's commitment to the 100 seater B717, powered by the Rolls-Royce BR715 engine, to 27 with a further 23 on option.

John Rose, Chief Executive of Rolls-Royce said: "Rolls-Royce has consistently invested in financial and aftermarket services to support our businesses. The participation by GATX in this joint venture is an endorsement of the approach Rolls-Royce has taken in developing this business."

Will Powers, Chief Executive of Rolls-Royce Capital said: "We have been delighted with the performance of Pembroke Group as it has enhanced Rolls-Royce plc's ability to deliver value added financial services in aircraft operating leasing, trading and management. The investment by GATX Capital serves to underscore our confidence in Pembroke Group and broadens and builds on our successful relationship in engine leasing. We believe that Pembroke Group offers our customers world-class financial services and enhances our ability to create real value for Rolls-Royce plc shareholders"

Rolls-Royce plc is a global company providing power for land, sea and air. The company has established leading positions in civil aerospace, defence, marine and energy markets. Its core gas turbine technology has created one of the broadest product ranges of aero engines in the world, with 55,000 engines in service in over 150 countries. Customers include more than 500 airlines, 2,400 corporate and utility operators and 160 armed forces, using both fixed and rotary wing aircraft.

Rolls-Royce is the global leader in marine power systems with a broad product range and full systems integration capability. Over 2,000 marine customers and more than 30 navies use Rolls-Royce propulsion. The company is investing in new products and capabilities for energy markets which include the oil and gas industry and power generation. It also develops its own power projects through Rolls-Royce Power Ventures Ltd.

Rolls-Royce pioneered gas turbine technology for aerospace, power generation and marine propulsion and is involved in the major future programmes in these fields. These include the Trent aero and industrial engines, the Eurofighter Typhoon and Joint Strike Fighter combat engines, the WR21 marine engine and leading edge water jet propulsion systems.

Jesse Crews, Chief Executive of GATX Capital said: "This acquisition extends our successful strategic relationship with Rolls-Royce and furthers our long-term goal of expanding the size and scope of our aircraft leasing and management activities. We are very pleased to be associated with the strong team of aircraft leasing and management professionals at Pembroke Group and look forward to further developing the business together."

GATX Capital Corporation is a wholly-owned subsidiary of GATX Corporation (NYSE: GMT), a unique finance and leasing company combining asset knowledge and services, structuring expertise, creative partnering and risk capital. GATX provides sophisticated leasing and financial services responsive to the specialised needs of a range of businesses. In addition to offering aircraft operating leasing, GATX specialises in railcar and locomotive operating leasing, information technology services leasing, venture finance, and financing solutions for customers in diversified markets, worldwide.

Further information on GATX Capital Corporation can be found at www.gatxcapital.com. For further information on GATX Corporation please visit www.gatx.com.




	Homepage		Pembroke Fleet
	About Us		News
	Our Services		Contact Us




Current News 2002 News Archive 2001 News Archive 2000 News Archive		GATX Purchase 50% Equity Stake in Pembroke Group January 30, 2001 Pembroke Group Limited, the aircraft lease, finance and management group headquartered in Dublin, today confirmed that GATX Capital has agreed to purchase a 50% equity stake in the company for an undisclosed sum. GATX will purchase the equity stake currently owned by International Investment and Underwriting Limited, Pembroke management and founders. Following the transaction, the company will be owned and controlled on a 50/50 basis by Rolls-Royce plc and GATX. Pembroke's existing management team, led by Chief Executive and co-founder Mr. Shane Cooke, will remain in place and will continue to manage and develop the business from Ireland. Pembroke Group was founded in 1993 and in 1998 Rolls-Royce became a 50% shareholder with the merger of Rolls-Royce's aircraft leasing interests. Combining Pembroke's existing portfolio of 145 aircraft with that of GATX makes Pembroke part of a group with interests in more than 400 aircraft. Shane Cooke, Chief Executive of Pembroke said: "We are delighted that GATX will become a 50% shareholder in Pembroke along with Rolls-Royce, enhancing our ability to provide the products and services our customers require and assisting us with our plans to expand our business." On recent trading activity, Mr. Cooke confirmed that Pembroke took delivery of its fourth B717 aircraft, which was leased to Athens based Olympic Aviation, and committed to a further two B717 aircraft by exercising options. This brings Pembroke's commitment to the 100 seater B717, powered by the Rolls-Royce BR715 engine, to 27 with a further 23 on option. John Rose, Chief Executive of Rolls-Royce said: "Rolls-Royce has consistently invested in financial and aftermarket services to support our businesses. The participation by GATX in this joint venture is an endorsement of the approach Rolls-Royce has taken in developing this business." Will Powers, Chief Executive of Rolls-Royce Capital said: "We have been delighted with the performance of Pembroke Group as it has enhanced Rolls-Royce plc's ability to deliver value added financial services in aircraft operating leasing, trading and management. The investment by GATX Capital serves to underscore our confidence in Pembroke Group and broadens and builds on our successful relationship in engine leasing. We believe that Pembroke Group offers our customers world-class financial services and enhances our ability to create real value for Rolls-Royce plc shareholders" Rolls-Royce plc is a global company providing power for land, sea and air. The company has established leading positions in civil aerospace, defence, marine and energy markets. Its core gas turbine technology has created one of the broadest product ranges of aero engines in the world, with 55,000 engines in service in over 150 countries. Customers include more than 500 airlines, 2,400 corporate and utility operators and 160 armed forces, using both fixed and rotary wing aircraft. Rolls-Royce is the global leader in marine power systems with a broad product range and full systems integration capability. Over 2,000 marine customers and more than 30 navies use Rolls-Royce propulsion. The company is investing in new products and capabilities for energy markets which include the oil and gas industry and power generation. It also develops its own power projects through Rolls-Royce Power Ventures Ltd. Rolls-Royce pioneered gas turbine technology for aerospace, power generation and marine propulsion and is involved in the major future programmes in these fields. These include the Trent aero and industrial engines, the Eurofighter Typhoon and Joint Strike Fighter combat engines, the WR21 marine engine and leading edge water jet propulsion systems. Jesse Crews, Chief Executive of GATX Capital said: "This acquisition extends our successful strategic relationship with Rolls-Royce and furthers our long-term goal of expanding the size and scope of our aircraft leasing and management activities. We are very pleased to be associated with the strong team of aircraft leasing and management professionals at Pembroke Group and look forward to further developing the business together." GATX Capital Corporation is a wholly-owned subsidiary of GATX Corporation (NYSE: GMT), a unique finance and leasing company combining asset knowledge and services, structuring expertise, creative partnering and risk capital. GATX provides sophisticated leasing and financial services responsive to the specialised needs of a range of businesses. In addition to offering aircraft operating leasing, GATX specialises in railcar and locomotive operating leasing, information technology services leasing, venture finance, and financing solutions for customers in diversified markets, worldwide. Further information on GATX Capital Corporation can be found at www.gatxcapital.com. For further information on GATX Corporation please visit www.gatx.com.

				© 2004 Pembroke Group Ltd.