Infracapital plans to acquire critical missions operator SAF Aerogroup

SAF Aerogroup signed a maintenance contract with Airbus in 2022. (Photocredit: Airbus).

Infracapital plans to acquire European critical missions operator SAF Aerogroup, after signing a put option agreement from the funds managed by Oaktree Capital Management, LP and Bpifrance.

The investment will enable SAF to expand its service offering of medical aerial emergency and firefighting services in France, according to Infracapital; the infrastructure equity investment arm of M&G Plc and Vesper Next Generation Infrastructure Fund. It will also allow the operator to grow its geographic reach across Europe, supporting public and private organisations.

Infracapital plans to support SAF in addressing changing healthcare needs driven by demographic changes and in mitigating the growing threat of extreme weather events due to climate change.

As the largest private operator supplying aerial firefighting services in France, SAF performs an increasingly important role in monitoring, combatting and containing fires outbreaks in remote regions in France, said the investment company. SAF also operates in other Mediterranean countries such as Greece and Turkey.

Herman Deetman, MD at Infracapital, said: “We are pleased to partner with Vesper to acquire SAF, a business providing highly essential services through complex operations and with robust long-term fundamentals and growth potential. We are highly impressed with the company and its management team and look forward to supporting SAF to realise its strategic plans.”

Thibault Nicodeme and Jean-Louis Camus, SAF Aerogroup co-CEOs also welcomed the partnership. “The long standing track record of our team, in safeguarding lives, protecting population and the environment, coupled with the industrial and financial expertise from our new investors and partners will open up new horizons for the continued successful development of SAF and a rewarding future for our employees,” they said.

Based in Albertville, southeastern France, SAF operates a fleet of 90 aircraft, 30 operating bases, 10 training bases and 550 employees. It’s 300 pilots fly more than 25,000 missions each year – including emergency medical transport, search and rescue operations and firefighting.

The acquisition will be made by Infracapital Partners IV. The is said to aligns with Infracapital’s strategy to invest in essential infrastructure to meet the changing needs of society and support long-term economic growth across Europe.

Completing the acquisition is subject to consultation with relevant employee representative bodies of SAF and the approval from regulatory bodies.