Canadian Helicopters is the largest helicopter transportation services company in Canada with a network of 11 strategically located fixed bases to support operations throughout the country. Canadian Helicopters owns and operates 91 light, medium, and heavy lift helicopters. In addition to charter services, Canadian Helicopters provides flight training and helicopter repair and maintenance services.
“This is a very well-established operation with a solid reputation for safety and quality of service,” said Chris Johnson, Crown’s president and CEO. “The business is underpinned by multi-year contracts with blue-chip clients and a large fleet of owned helicopters. Going forward, the company is well positioned to benefit from improving commodity markets and an increase in the usage of helicopters for disaster relief efforts.”
“Crown’s financing solution was the ideal complement to our senior facility,” said Don Wall, president and CEO of Canadian Helicopters. “The Crown team understood our business quickly and was able to get us a commitment in less than two weeks.”
The term loan bears a fixed interest rate of 10% per annum, matures in 60 months and includes a bonus feature based on the growth in Canadian Helicopters’ enterprise value.
Canadian Helicopters additionally arranged for a $75 million, 3-year senior credit facility led by Canadian Western Bank.