Essex Aviation Group Inc. has recently assisted a New York based client with the sale of their Gulfstream V (GV) aircraft. While Essex Aviation is not a brokerage firm, and typically specializes in providing aircraft acquisition consulting services, managing the sale of the GV represented a unique situation.
While Essex was working with their client on the acquisition of a G650, it became known within the industry — and by the representative of an off-market GV buyer who reached out to Essex — that Essex’s client would be selling their existing GV upon securing the G650. After consulting with the client’s family office, Essex was retained to manage the sale process of the aircraft to this specific off-market buyer. Essex agreed to manage the sale with the understanding that if the transaction was not successfully completed, the aircraft would then be publicly listed for sale by one of several candidate aircraft brokers whom Essex had previously identified and recommended to their client.
Essex represented the client with the following services:
- Negotiating the aircraft purchase agreement
- Providing on-site management and support during the pre-purchase inspection
- Managing, together with legal counsel, the final delivery and transfer of ownership title of the aircraft
It is important to recognize the unique arrangement under which Essex was engaged by their existing client to represent them in this transaction, and note that Essex does not list aircraft for sale or act in the capacity of a broker.
Essex has only represented existing client’s in the sale of an aircraft when it is an “off-market” transaction in which the two parties have either directly contacted each other or industry contacts have facilitated the interest between the parties, and Essex’s client requests that Essex manage the off-market sale of the aircraft.
Essex Aviation Group, Inc. was founded in 2013 with the primary goal of providing clients with the most current industry knowledge and experience, a vital component in evaluating business and private aviation transportation needs.
Representing clients in a wide range of services, Essex builds client relationships through dedication to trust, integrity and a level of responsiveness not found anywhere else. Services include new or pre-owned aircraft acquisitions, new aircraft completion management, pre-owned aircraft refurbishment and upgrade management, block and ad hoc charter services and much more.