Macquarie Group (ASX:MQG) subsidiary Macquarie Asset Management's helicopter leasing unit, Macquarie Rotorcraft, is being acquired by the joint venture helicopter leasing company of Sumitomo Mitsui Finance and LCI Investment for an undisclosed amount, according to a statement by Sumitomo Mitsui Finance on Monday.

Sumitomo Mitsui Finance and LCI plan to expand their fleet to about 310 aircraft, including owned, managed, and on-order units, while pursuing further expansion of its customer base and synergies with its existing businesses, per the statement.

LCI Investments will manage the newly combined business.