Thora Capital buys six EMS helicopters from Milestone
Thora Capital has bought six Emergency Medical Services helicopters from Milestone Aviation. The aircraft are on lease to US EMS operator Life Flight Network.
“We are thrilled to announce this acquisition, one of several deals we anticipate consummating over the coming months. Life Flight is a premier operator, and we are excited to support their mission. We expect 2020 to result in continued growth and materially exceed our 2019 deployments,” said Matthew Rothschild, CEO, Thora Capital.
Life Flight Network is based in Oregon and the helicopters will operate in the Pacific Northwest.
“We are delighted to be able to close this transaction with Milestone. It was a pleasure to be able to work with a premier organization with Milestone’s depth of resources. The transaction team made the process all the more enjoyable and we look forward to working on many more transactions with them in the future.” said Russell Christopher, Managing Director, Thora Capital, who is responsible for Thora’s origination, sourcing, and portfolio management.
“The deal was underwritten for and funded entirely by Thora Fund I, LP, and involved multiple aircraft deliveries in varying locations in the United States. Furthermore, we were successful in utilizing senior debt that we sourced from an entirely new debt relationship; this being its first foray in to the asset class, demonstrating Thora’s commitment to attract not only new capital but also broaden its addressable market for debt and other valuable resources,” said Christopher. “This transaction further demonstrates Thora’s appetite to invest in the helicopter sector and our ability to execute.”
Vedder Price (Washington DC ) was legal counsel to Thora. Daugherty, Fowler, Peregrin, Haught & Jensen in Oklahoma City, was aviation counsel to the transaction.