Alberta transportation firm makes $120M foreign acquisition
Canadian Helicopters to expand operations in Canada and internationally
EDMONTON—Canadian Helicopters Ltd., an Edmonton-based transportation and maintenance company, is purchasing Helicopters (N.Z.) Limited for C$120-million.
N.Z. is a helicopter company in Nelson, New Zealand with operations in Australia, Laos, and Cambodia. The company has 181 employees, a fleet of 33 helicopters, and revenue of C$62 million.
Canadian Helicopters has 514 employees, 95 helicopters, and $170,691 revenue.
The sale and purchase agreement includes shares of Helicopters (Australia) Pty Ltd and other active subsidiary companies.
Don Wall, President and CEO of Canadian Helicopters, said the acquisition will help the company expand existing operations in Canada, the U.S. and Afghanistan.
Canadian Helicopter will make the purchase with a combination of cash on hand and bank debt.