• November 17, 2008
  • North America

Rotorcraft Completes Acquisition of Bristow's Production Management Business

MIAMI – November 17, 2008 – H.I.G. Capital announced today that its portfolio company, Rotorcraft Leasing Company, has completed the previously announced acquisition of the production management flight services business of Bristow Group Inc. (NYSE: BRS). The production management flight services business uses over 50 aircraft to provide helicopter transportation services to providers of management services and outsourced personnel to oil and gas companies in the Gulf of Mexico. The acquisition included 53 helicopters, related inventory, spare parts, offshore fuel equipment and two operational bases in Louisiana and Texas. Rotorcraft now operates mission-critical transportation services for customers throughout the Gulf of Mexico, utilizing its world-class fleet of more than 150 aircraft operating from a network of twelve operating bases strategically located along the coastal regions of Texas, Louisiana, Alabama and Florida.

“This represents the fourth acquisition we’ve completed at Rotorcraft, as we continue to build on our position as the largest privately-held, FAA-certified helicopter operator in the Gulf of Mexico. The production management business is a natural and profitable extension of our service offering, and the management team has continually shown great dexterity in the integration of such a business into Rotorcraft’s operations,” said Jeff Zanarini, Managing Director of H.I.G.

More than 100 new employees, many of whom are being transitioned from Bristow Group, are joining Rotorcraft in order to service the new production management accounts. “We enjoy working with our long-term customers in the Gulf, and welcome the opportunity to service these national production management accounts,” said Rodger Bagwell, CEO of Rotorcraft. “We are equally excited about the addition of our new employees, who we hand-selected to join the Rotorcraft team to ensure our new accounts are serviced successfully following a smooth transition.”

Lloyd Marks, the founder and President of Rotorcraft commented, “We have already begun the integration of the Bristow fleet into our own, and the expanded availability of aircraft has been received very positively by our customers. Our mission remains the same: First-class aviation support for our customers, in a safety-first environment. As we approach the completion of our new Operations, Training and Communications Center (OTCC), the newly-expanded team at Rotorcraft stands ready to deliver on this mission for years to come.”

About Rotorcraft Leasing Company
Founded in 1990, Rotorcraft is the largest privately-held operator in the Gulf of Mexico certified by the FAA to operate helicopter charters and execute long-term leasing agreements under an FAR 135 certification. The Company services the critical transportation needs of mid-major, “independent” oil and gas customers through a network of onshore bases and offshore fueling stations located throughout the Gulf of Mexico. Flight planning and tracking for its continually expanding helicopter fleet are managed from central Flight Operations Support in Broussard, Louisiana. For more information, please refer to the Rotorcraft website at www.rotorcraftleasing.net.

About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.hig.com.

Jeff Zanarini
Managing Director

Fabian deArmas

H.I.G. Capital, L.L.C.
1001 Brickell Bay Drive
Miami, Florida 33131
P 305.379.2322