Prosys Tech to Acquire Aircraft Engines for $25.6M in Reverse Takeover
Prosys Tech Corp will buy nine aircraft engines from Aeronautics Fund SCA, rebrand as AFD Aero, and list on the TSX Venture Exchange.
A small Canadian technology holding company is pivoting sharply toward the aviation leasing sector. Prosys Tech Corporation announced Thursday it has signed a letter of intent to acquire nine aircraft engines and their associated lease agreements from Aeronautics Fund SCA SICAV-RAIF, a Luxembourg-style regulated fund, for $25.6 million. The deal is structured as a reverse takeover — a mechanism companies frequently use to achieve a public listing more quickly than a traditional IPO would allow.
The transaction carries meaningful strategic weight beyond the asset purchase itself. Once complete, Prosys will rename itself AFD Aero Corporation, signaling a full break from its prior technology identity and a wholesale commitment to aviation asset management. The rebrand aligns the company's public-facing name with the fund from which it is acquiring the engines, suggesting a closer ongoing relationship between the two entities.
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To help finance the move, Prosys has also announced a concurrent private placement of up to $4.75 million. That fundraise, running alongside the acquisition process, is a common approach for reverse-takeover candidates that need to shore up working capital before their shares begin trading on a new exchange. The combined structure — asset deal, name change, share offering, and exchange listing — represents a compressed but well-worn path for companies seeking rapid transformation and capital-market access.
Upon closing, the company's Class A common shares are expected to list on the TSX Venture Exchange, Canada's junior equity market that caters to emerging and growth-stage companies. Aircraft engine leasing is a capital-intensive but relatively stable business model; engines are leased to airlines under long-term agreements, generating predictable cash flows that can support debt and equity financing. Whether the nine engines acquired from AFD represent the foundation of a larger portfolio strategy remains to be seen, but the deal's structure implies ambitions well beyond a single transaction.
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