Rotorcraft Leasing Company Completes Acquisition of Go Helitrans
LAFAYETTE – May 15, 2007 – Rotorcraft Leasing Company, L.L.C. announced today that it has acquired Go Helitrans, a leading provider of transportation services for personnel and equipment to offshore oil & gas production platforms and drilling rigs in the western Gulf of Mexico. Rotorcraft is an affiliate of H.I.G. Capital, a leading global private equity firm based in Miami.
“Go Helitrans’ presence in the western Gulf is a strong complement to Rotorcraft’s existing footprint,” said Lloyd L. Marks, Rotorcraft’s President. “We have already begun the integration of Go Helitrans’ helicopter fleet and employees into the Rotorcraft organization. This acquisition further strengthens Rotorcraft’s position as the largest privately-held helicopter transportation company in the Gulf of Mexico. With our combined fleet of approximately 100 helicopters, we will be able to better offer our valued customers a competitive service offering from our first-class flight operations center in Broussard, Louisiana. A close working relationship with our customers is always our number one priority.”
Go Helitrans is an operator of a fleet of FAR 135-certified helicopters providing comprehensive logistics and transportation services to oil & gas operators in the Gulf of Mexico.
“Rotorcraft has been a strong competitor and will be an outstanding partner” said Gregory Obert, founder and President of Go Helitrans. “The combination of Go Helitrans and Rotorcraft will result in a highly positive outcome for our customers and employees. Go Helitrans brings strong customer relationships, excellent employees, and additional expertise to Rotorcraft. The initial response to the transaction from our customers has been overwhelmingly positive, primarily as a result of the expanded capabilities and opportunities the combination will provide. I am excited to work with the Rotorcraft management team to continue to grow the company.”
Rodger D. Bagwell, Rotorcraft’s CEO, expanded on the recent growth of the company. “Go Helitrans is the third acquisition we have completed since 2005. We have a strong track record of successfully integrating businesses we acquire, and to drive continued growth. Rotorcraft is always on the look-out for additional operating assets, in order to grow our fleet of helicopters in line with our long-term customer base in the Gulf. We believe our partnership with H.I.G. will allow us to continue to significantly increase revenues over the next several years.”
“We are excited about the strategic benefits of the combination of Go Helitrans and Rotorcraft,” said Brian Schwartz, Managing Director of H.I.G. Capital. “Lloyd Marks and Rodger Bagwell have been terrific partners and have an outstanding track record of success. We look forward to continuing to support the Company’s growth.”
About Rotorcraft Leasing Company
Founded in 1990, Rotorcraft is the largest privately-held operator in the Gulf of Mexico certified by the FAA to operate helicopter charters and execute long-term leasing agreements under an FAR 135 certification. The Company services the transportation needs of mid-major, “independent” oil & gas customers through twelve air bases located throughout Southern Louisiana and Texas. Flight planning and tracking for its continually expanding helicopter fleet are managed from central Flight Operations Support in Broussard. Rotorcraft also provides full service helicopter maintenance via, it’s FAA-certified helicopter repair and services facility, including parts, engine and component overhauls, and avionics. For more information, please visit www.rotorcraftleasing.net.
About H.I.G. Capital
H.I.G. Capital L.L.C. (“H.I.G.”) is a leading global private equity investment firm with more than $4 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed more than 75 transactions. The firm currently manages a portfolio of more than 50 companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.