Stellwagen Group has entered into an agreement to acquire ECN Capital's Commercial Aviation advisory and asset management business.

ECN Aviation arranges, co-invests and manages a portfolio of commercial aviation assets on behalf of institutional investors.

The purchase price for ECN Commercial Aviation is $22.5 million payable by the issuance of Class B shares of Acasta at $10 per share with a one year lock-up, subject to a top-up of up to 10% if Acasta's share price is less than $10 after the lock-up expires.

ECN Aviation has C$1.7 billion ($1.25 billion) in assets under management, with a portfolio of 45 commercial passenger aircraft on lease to 30 global airlines.