Antin Infrastructure acquires HP Helicopters
Bell 212
French private equity firm Antin Infrastructure Partners has acquired a significant majority stake in US-based High Performance Helicopter Corporation (HP Helicopters) through its €1.2bn ($1.36bn) NextGen Infrastructure Fund.
“We are delighted to be partnering with Brad to accelerate HP Helicopters’ growth. The company is a good fit for our NextGen strategy, which aims to build tomorrow’s infrastructure today. We see strong potential to take HP Helicopters to the next level by expanding the fleet, further increasing efficiencies, and continuing the transition to long-term exclusive use contracts with clients who want to ensure availability amid a structural supply shortage for heavy-duty helicopters,” commented Angelika Schöchlin and Stephan Feilhauer, managing partner and NextGen partner, respectively, at Antin Infrastructure Partners.
Investment firm Red Mountain Capital Partners advised Brad Bauder and Tracey Bauder and HP Helicopters on the sale of the company.
“The business had significant growth opportunities ahead of it, constrained by the size of its existing fleet and asset base. Red Mountain helped the company articulate those growth opportunities, developed a capital deployment strategy and financial plan, and found investors whose mandate is to fund exactly this kind of growth potential,” Red Mountain Capital’s Jack Doss told Helicopter Investor.
HP Helicopters, based in Redlands, California, was founded in 2005 by Brad Bauder and Tracy Bauder. The operator provides services across the western United States and Mexico, with most of its work in Washington, Oregon and California.
The company services remote area construction, utility infrastructure work such as power-line and pole setting, aerial firefighting, offshore operations, and off-road racing support in Mexico.
It operates a fleet of HP-60A, UH-1H+++, Augusta 119, Bell 430 and Bell 212, giving the company a mix of light, medium and heavy-lift aircraft for different jobs.
Antin manages six funds that invest in infrastructure in Europe and North America, and target investments in the energy and environment, digital, transportation and social sectors.
With assets under management of over €33.3bn, the acquisition of majority stake in HP Helicopters was its NextGen Infrastructure Fund eighth investment.
Brad Bauder is retaining a minority holding and continuing as chief executive officer.
