Somerset Capital Group, Ltd. based in Milford, Connecticut and AGS Corporation based in London, England are pleased to announce a joint venture to provide turnkey solutions for GSE Fleet Management. This new joint venture provides the first such cooperation between an experienced GSE fleet manager (maintenance, procurement, optimization of fleet utilization) and an experienced and blue chip provider of finance with specialization in the sector. The companies also bring together geographical experience with Somerset in North America and Far East markets and AGS with Europe, Middle East and Africa; therefore, able to meet the requirements of most of the major global operators. Many Airlines have recently consolidated their networks by acquisitions and global alliances, and recognized that having enhanced their own “on plane” passenger experience, they need to now work closer with their global handling partners to enhance the passenger experience from the initial departure point, for example, home or hotel, through the departure airport and at the arrival airport until they arrive at the ultimate destinations. This means the handler has to focus more on these areas, and needs to have a reliable fleet management partner who can react quickly to new innovation and respond to new fleet changes.
This new Joint Venture will provide this seamlessly. The joint operation will start August 1st.
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Somerset was established in 1984 and offers equipment leasing and asset management solutions through operating lease, capital lease, and sale-leaseback products. Somerset’s depth of experience, flexibility and dedication provides a value proposition to its business partners well beyond the competitively priced lease transactions that Somerset offers its clients. Somerset’s financial strength provides the company with the capabilities to execute on global transactions and relationships, ranging in size from $100,000 to $100 million, covering a broad array of asset types including, but not limited to ground support, information technology, machine tools, material handling, medical, semiconductor test and manufacturing equipment with each transaction tailored to the specific and evolving requirements of its clients. Somerset maintains a staff of qualified professionals to handle, in house, all servicing functions related to our portfolio. The company operates on a global platform with subsidiaries in Canada, England, Singapore and Taiwan.
AGS Corporation Ltd. is a company with more than 10 years’ experience in the Ground Support Equipment market, supplying maintenance, fleet management, parts logistic, GSE refurbishment and sales among other services provided to its clients. The actual database of technical issues of GSE has been populated since AGS Italy was first founded in 2004, when it was created to act as a service support provider for operators of all types of GSE; today AGS, counting on a strong background in this field, is capable of offering a turn-key solution, which is currently unique in the market, for maintenance and management for all major GSE brands in use all over the world, ranging from sourcing parts and dispatching them within 24 hours, to leasing, fleet management and training. Its mission is to offer the best experience to their customers through the most innovative and successful products and services.