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
According To The Witness, Once The Airplane Landed, It Continued To Roll In A Relatively Straight Line Until It Impacted A Tree In His Front Yard On November 4, 2025, about 12:45 e>[...]
"In the frame-by-frame photos from the surveillance video, the left engine can be seen rotating upward from the wing, and as it detaches from the wing, a fire ignites that engulfs >[...]
Radar Required A term displayed on charts and approach plates and included in FDC NOTAMs to alert pilots that segments of either an instrument approach procedure or a route are not>[...]
From 2023 (YouTube Edition): It’s a Small World After All… Founded in 2011 by pilot, aircraft designer and builder, and U.S. Air Force veteran Sam Watrous, Uncasville,>[...]
Also: UFC Buys Tecnams, Emirates B777-9 Buy, Allegiant Pickets, F-22 And MQ-20 The NTSB's preliminary report on the UPS Flight 2976 crash has focused on the left engine pylon's sep>[...]
NTSB Prelim: Funk B85C
See All