Praesidian Provides First Lien Debt to Support HCA Buy
Praesidian Capital Europe announced it provided first lien debt to support the acquisition of Helideck Certification Agency Limited by a group of private investors.
“HCA serves an important niche by providing certifications that are considered the industry standard,” stated Jason Drattell, Praesidian founder. “We are pleased to provide the necessary financial support for the acquisition of HCA and to participate in its future going forward.”
According to Christian Heidl, Praesidian Partner, “HCA is the go-to authority in the UK and Europe with attractive growth prospects internationally. We are delighted to have entered into this partnership with HCA, its new owners and management, to strengthen its foundation for the next phase of growth.”
HCA was founded in 1997, by the UK helicopter industry in response to increasing oversight by the UK regulator. Prior to its acquisition, HCA was owned by Bristow Group, and CHC Group, world-leading helicopter operators.
Aberdeen, Scotland-headquartered HCA is a provider of inspection and certification services for offshore fixed and mobile helicopter landing areas known as “helidecks.” HCA is responsible for the inspection and certification of more than 700 helidecks on offshore vessels and installations operating in UK and Norwegian waters utilising the criteria in UK CAP437 or Norwegian Civil Aviation Regulations BSL D 5-1 as the basis for inspections. In addition, the company provides services to major oil companies, platform constructors, helicopter operators, shipping registries, and national civilian aviation authorities worldwide. With offices in the UK and Norway, HCA operates primarily in the North Sea and to a lesser degree in Africa, Asia and the Middle East.