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
“This recognition was evident during the TBMOPA Annual Convention, where owners and operators clearly expressed their satisfaction with our focus on customer service, and enc>[...]
Overhead Maneuver A series of predetermined maneuvers prescribed for aircraft (often in formation) for entry into the visual flight rules (VFR) traffic pattern and to proceed to a >[...]
Aero Linx: Glenn H. Curtiss Museum The Glenn H. Curtiss Museum, bearing the name of Hammondsport’s favorite son, is located on State Route 54, one half mile south of the vill>[...]
The Flight Instructor Noticed Some Engine Roughness And Diverted Toward Westwinds Airport On November 2, 2025, about 1630 mountain standard time, an experimental amateur-built Just>[...]
From 2014 (YouTube Edition) -- Disclaimer: No Matter What He Tells You, Tom Is Not A Certified Firefighting Pilot While at EAA AirVenture 2014, ANN News Editor, Tom Patton checked >[...]
Aero-News: Quote of the Day (11.20.25)
See All