Offshore-support operator CHC Helicopter has acquired cold-water survival suit specialist Multifabs for C$17 million ($13 million) in cash. Aberdeen, UK-based Multifabs, together with CHC's existing safety-equipment business, will comprise a new unit with annual revenues of around C$23.5 million. St John's, Newfoundland-based CHC says the Multifabs acquisition complements the safety-equipment business of its Astec Helicopter Services division based in Stavanger, Norway, and will add C$15 million in annual revenues. The new business unit has potential for expansion in the UK and US government markets, CHC says.
Source: Flight International
