Mon, Jan 30, 2012
Exchange Income Corporation Adds Helo Service To A Growing
Aviation Portfolio
Exchange Income Corporation has signed a letter of intent to
acquire the operations and assets of Custom Helicopters, a
privately-owned provider of helicopter-based aviation services in
Manitoba and Nunavut.
The acquisition is valued at $29 million, and will be paid
through a combination of cash and the issuance of the
Corporation’s common shares. The acquisition is expected to
be immediately accretive to Exchange’s earnings per share and
free cash flow per share. Pending final due diligence and
satisfaction of typical conditions, including regulatory approval,
the transaction is expected to close in the first quarter of
2012.
“We believe that market conditions are favorable for us to
begin to deploy some of the more than $200 million we have
available to support our disciplined acquisition strategy,”
stated Mr. Mike Pyle, President and CEO of Exchange Income
Corporation. “Custom Helicopters represents a strategic
acquisition as it allows us to enter a new segment of the aviation
market, one with strong and sustainable margins. Consistent with
our business model, Custom’s senior management will be
retained through long-term services contracts. We look forward to
welcoming Custom Helicopters into Exchange’s growing Aviation
segment.”
Jim Hawes, Founder and President of Custom Helicopters, stated,
“We look forward to enhancing the business opportunities of
Custom Helicopters with Exchange’s financial resources and
through operational synergies with Exchange’s other aviation
companies. We look forward to tapping into Exchange’s strong
relationships with northern and First Nation communities, which
will help Custom Helicopters attain new levels of
success.”
More News
Also: 1st-Ever Space Crime Was a Fraud, IAE Buys Diamonds, Kennon Bows Out, Perseverance Rover An interesting moment came about this past Sunday as ANN CEO, Jim Campbell, noted tha>[...]
Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]
From 2023 (YouTube Edition): Deviation from the Historical Mean Racine, Wisconsin-based DeltaHawk is a privately-held manufacturer of reciprocating engines for aircraft and hybrid >[...]
Smoke Began Entering The Cockpit During The Landing Flare, And Then The Pilot Noticed Flames On The Right Side Of The Airplane Analysis: The pilot reported that about 30 minutes in>[...]
Remote Communications Outlet (RCO) An unmanned communications facility remotely controlled by air traffic personnel. RCOs serve FSSs. Remote Transmitter/Receivers (RTR) serve termi>[...]
Airborne 11.24.25: ANN's 30th!, Starships V3 Booster Boom, Earhart Records
See All