Data: Significant helicopter private equity investments

Alasdair Whyte

Helicopter Investor tracks all significant helicopter company financial transactions including investments into helicopter operators and service providers. The main trend since 2005 has been one of private equity backed companies buying up other operators. This is most noticeable with Spain’s Inaer which has acquired six sizeable operators in the last three years.

HeliInvestor tracks all significant helicopter company financial transactions including investments into helicopter operators and service providers. The main trend since 2005 has been one of private equity backed companies buying up other operators. This is most noticeable with Spain’s Inaer which has acquired six sizeable operators in the last three years.

Reiten & Co, which invested in Norway’s Blueway is reported to be considering selling its stake.

Deals we consider to be landmark are shown in bold.

Target Country Buyer Notes Investment Company value Date
Waypoint Leasing Ireland MSD Capital, Soros Fund Management and Cartesian Capital Group
Helicopter leasing $375m    
CHC Helicopter Canada First Reserve Secondary investment $100 million   29 Sep 2011
Rotorcraft US

Sankaty Advisors

Sankaty is a fixed income and credit manager, not private quity     15 Sep 2011
Lobo Leasing US Perella Weinberg Partnersʼ Asset Based Value strategy fund Fund does not consider itself to be private equity. Undisclosed    2 June, 2011      
Bond Aviation Group UK Inaer (KKR/InvestIndustrial)   £300 million ($446.1 million). 2 May, 2011
Milestone Ireland The Jordan Company (lead), Nautic Partners Helicopter leasing company $500 million      
Air Medical Group Holdings US Bain Capital EMS operator     22 Oct 2010
Eagle Med US Air Medical Group        
DanCopter Denmark Blueway (Reiten & Co)   Undisclosed   9 July, 2008
Inaer Spain KKR Secondary buyout with KKR getting 49.9% stake Eu350 Eu 700 28, April  2010
Proteus France Inaer (InvestIndust) 100% owned by Elilario Undisclosed   March 2008
Amuk UK Inaer (InvestIndust)   Undisclosed   2008
Elilario Italy Inaer (InvestIndust) Operated 30 twin-engine helicopters in offshore, firefighting and EMS roles. Undisclosed   March 2008
Cegisa Spain Inaer (InvestIndust) leading Spanish fixed wings firefighting operator     2008
CHC Helicopter Canada First Reserve largest-ever oilfield services buyout    C$3.7 bn 22 Feb,  2008
British International Helicopter Services UK Matrix (lead), Finance Cornwall and Chrysalis VCT Secondary buyout acquired from 3i. Debt and asset finance provided by Bank of Scotland Corporate. £5 million £20 million 2006
Vertech Offshore Norway Blueway (Reiten & Co) Acquired 60%     2008
Airlift Group (now Blueway)    Reiten & Co Acquired 60%, Transportation Group (38%) and Skogstad (2%)       Nov 1 2006
Elilario Italy Axa Private Equity was mezz investor.Exited in July 2010 bafter KKR acquistion       2007
Inaer Spain Investindustrial Acquired 75% Eu205    13 Jan, 2006
Industrial Helicopters US Rotorcraft Leasing Company, L.L.C (H.I.G. Capital)       30 Jan, 2006
MD Helicopters US Patriarch Partners LLC        
Rotorcraft Leasing Company US H.I.G. Capital          25 Aug, 2005
Air Evac Lifeteam US Brockway, Moran & Partners and Meridian Venture Partners Became Air Medical Holdings     06 July 2004

 Source: Corporate Jet Investor/Helicopter Investor  September 2011

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