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Thursday, May 9, 2013

Regulators Approve Erickson Purchase of Evergreen

Erickson Air-Crane has finalized its $250-million acquisition of McMinnville, Ore.-based Evergreen Helicopters from Evergreen International Aviation. The Evergreen Helicopters fleet of 65 aircraft, both rotary and fixed-wing, is being combined with Erickson’s fleet of 87 aircraft, including 20 S-64 Aircranes. Evergreen currently operates in North America, Africa, Asia-Pacific and the Middle East. The agreement includes $185 million in cash, $17.5 million in promissory notes and four million preferred shares valued at $47.5 million. According to Erickson CEO Udo Rieder, the closing of the company’s Air Amazonia acquisition is imminent.

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