Investec agrees offshore financing deal with Ultimate Aviation Group
An AW139 in SAR configuration. (Photocredit: Leonardo Helicopters).
Investec Corporate & Investment Banking has agreed a financing deal with Ultimate Aviation Group to boost its offshore helicopter personnel transport capability in the North Sea. The facility will support the operator’s expansion in the region with two new Leonardo AW139 helicopters, configured in line with International Association of Oil & Gas Producers (IOGP) standards.
Ultimate used the facility to fund helicopter pre-delivery payments and execute on a time-sensitive growth opportunity. This is at a time when global aviation manufacturing capacity remains constrained and delivery timelines typically span three to four years, said Investec. The two new AW139s are expected to be delivered in the fourth quarter of this year and the first quarter of 2027.
“Limited production availability and long lead times continue to define the global aviation market, which places a premium on speed, flexibility and certainty of execution,” added Marc Abraham from Investec CIB Aviation Finance. “In this transaction, we worked closely with Ultimate Aviation Group to structure a flexible corporate facility aligned to their operational requirements, demonstrating our ability to deliver tailored funding solutions in complex and specialised areas of the aviation market.”
The transaction reflects Investec’s understanding of aviation markets and its ability to structure bespoke solutions aligned to complex client requirements, while continuing to grow our presence in key international markets, added Abraham.
Marking Investec’s first deal with the group’s UK business, the agreement is said to lay the foundation for a longer-term relationship, with Investec CIB positioned to support future growth through tailored aviation finance solutions.
Ultimate Aviation Group specialises in performing air services in remote, austere and difficult working environments, providing turn-key operations in many challenging areas, according to Shaun Roseveare, its CEO. “As such, we value financial partners who can adapt funding structures to meet our operational needs,” he said. “Having the right solution in place allows us to focus on safely and reliably delivering offshore crew change services to our clients.”
Ultimate Aviation Group has provided offshore aviation services from Aberdeen in support of the North Sea energy sector for more than 20 years. The South African-based operator specialises in helicopter services, including charter, maintenance, training, and utility operations for oil, gas, and humanitarian sectors. In addition to operations in the North Sea and throughout Africa, the operator also flies missions in Antarctica.
Meanwhile in 2023 Ultimate Aviation Group finalised its deal to purchase Offshore Helicopter Services UK (OHS UK) from CHC Helicopter Group (CHC).
