Canada's CHC Helicopter has acquired a 25% stake in Norwegian operator Helicopter Services Group (HSG).
Stavanger-based HSG is the parent company of North Sea operators Helikopter Service and Bond Helicopters, Australia's Lloyd Helicopter Service and South Africa's Court Air Holdings. It also owns stakes in Germany's Wiking Helikopter Services (49%) and Spain's Helicopteros (33%).
St John's, Newfoundland-based CHC in turn owns North Sea operator British International Helicopters. Chairman Craig Dobbins says the HSG shares became available and "represent an attractive investment for CHC".
The Canadian company last year spun off its repair and overhaul businesses as publicly traded Vector Aerospace, in a bid to refocus its activities on operating helicopters.
CHC, with 212 helicopters, describes itself as the world's third largest commercial operator. HSG claims to be the world's largest helicopter operator in terms of annual sales, operating more than 150 helicopters.
The share purchase will make the linked companies the dominant force in the North Sea offshore oil support market.
· Vector Aerospace has agreed to acquire Helipro Group, its first acquisition since being sold by CHC. Bellingham, Washington-based Helipro will become Vector's centre of excellence for helicopter structures, while its engine and component overhaul services will be integrated with those of Vector's ACRO Aerospace division in British Columbia.
Source: Flight International
