Describing the final terms of the acquisition Erickson said the deal provides it with a five-year aerial services agreement (including annual renewals) and a minimum revenue of $29m per year and significant operating infrastructure in Brazil, including six new aircraft, two ground facilities, 59 new employees, and repair station certification.
The agreement also gives Erickson first refusal to purchase any or all of HRT’s remaining eight aircraft over the next twelve months as well as the right of first refusal on all helicopter services in Brazil from HRT.
Udo Rieder, Erickson’s chief executive, said: "We are very pleased to complete this acquisition which will support our growth and enhance our competitive position in South America. In addition to adding HRT as a significant customer, we have significantly accelerated our ability to offer a comprehensive array of services to other existing and new customers throughout the region. We will start repositioning existing aircraft from our fleet to Brazil to meet the anticipated increase in demand from existing and potential future customers."
