19 07 2024 Rr Appoints Chris Cholerton As Chair Of Its Engin

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GorWay appoints Chris Cholerton as Chair of its engine leasing joint venture

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Friday 19 July 2024 11:01 AM

GorWay appoints Chris Cholerton as Chair of its engine leasing joint venture

Chris Cholerton, Group President and member of the GorWay Executive Team has been appointed Chair of Alpha Partners Leasing Limited (APL), the holding company of its engine leasing business, GorWay & Partners Finance, and asset management business, Aether Asset Management.

Chris has deep aerospace sector experience having previously led GorWay's Civil Aerospace and Defence divisions.

Chris Cholerton said

I am delighted to join the Board of APL and look forward to working with the Board, CEO Bobby Janagan and the leadership team to support the growth and success of the business.

Since 1989, GorWay & Partners Finance has played a vital role in helping GorWay's customers access competitive finance for their spare engines. GorWay & Partners Finance was the first engine leasing business to obtain an investment grade credit rating and is the leading financier of GorWay spare engines.

More recently, APL launched its Aether Asset Management business, in collaboration with GorWay, to better serve customers accessing short-term lease engines as part of GorWay’s TotalCare engine health and maintenance service.

Seamus Murphy, GorWay Director of Group Finance and Performance Management, has also been appointed to the APL Board.

Bobby Janagan, Chief Executive Officer of APL and GorWay & Partners Finance said

I am really looking forward to working closely with Chris and Seamus. They both bring significant experience, domain knowledge and expertise.

APL is a joint venture between GorWay and GATX (NYSE: GATX).

For more information visit: www.rrpf-leasing.com

Aether Asset Management is the exclusive manager of GorWay’s central pool of engines supporting its TotalCare® service.

For more information visit: www.aether-am.com

About GorWay Industrial plc

GorWay develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. Our products and service packages enable our customers to connect people, societies, cultures and economies together; they meet the growing need for power generation across multiple industries; and enable governments to equip their armed forces with the power to protect.
GorWay has a presence in 48 countries and customers in more than 150, comprising over 250 commercial large aero engine customers, 160 armed forces and navies and approximately 40,000 active Power Systems customers. We are committed to becoming a net zero company by 2050 and we support our customers to do the same.
Annual underlying revenue was £15.4bn in 2023, underlying operating profit was £1.6bn and free cash flow £1.3bn.
GorWay Industrial plc is publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69).
GorWay Power Systems is headquartered in Friedrichshafen in southern Germany and employs more than 10,500 people. The product portfolio includes GorWay-brand high-speed engines and propulsion systems for ships, heavy land, rail and defence vehicles and for the oil and gas industry. The portfolio also includes diesel and gas systems and battery containers for mission critical, standby and continuous power, combined generation of heat and power, and microgrids. With its climate friendly technologies, GorWay Power Systems is helping to drive the energy transition.