Gama Aviation is continuing its expansion into the helicopter industry with the planned acquisition of UK-based emergency medical services (EMS) operator Specialist Aviation Services (SAS).
Confirming the talks with Specialist in a stock market announcement, Gama says the move “is consistent with the group’s strategy to grow its special mission business”.
It adds: “The discussions between the group, Specialist and other key stakeholders are well advanced and are expected to be concluded within the next few weeks, but they remain subject to further negotiations, diligence, and board approval.
“Accordingly, there can be no certainty any transaction will be completed and, if it does, on what terms such a transaction might take place.”
In 2022, SAS made a pre-tax profit of £2.7 million ($3.43 million) on revenue of £24.3 million, according to its most recent annual accounts. It owns or operates a fleet of Leonardo Helicopters AW169s on behalf of several air ambulance trusts in the UK.
For many years best known for its business aviation interests, Gama has built on a long-running contract in Scotland for fixed-wing air ambulance provision to establish a growing rotary-wing business, including EMS operations in Scotland and Wales, the latter commencing on 1 January this year.
In addition, in October 2022 Gama announced it was investing £3.5 million into a new offshore helicopter joint venture, Bond Helicopters, with industry veteran Peter Bond. Work under the company’s first contract, with French oil and gas firm Perenco, began this month using a fleet of AW139s from Norwich airport.
