Avincis to buy Scandinavian Air Ambulance for €80 Million

Avincis to buy Scandinavian Air Ambulance for €80 Million

27-Mar-2014 Source: Avincis

Scandinavian Air Ambulance (SAA), the foremost provider of air ambulance services in the Nordic region, today announced its intention to join the Avincis Group (Avincis), a leading international provider of mission critical aviation services.

The agreement would see the business take its place alongside Avincis’ existing companies which deliver medical emergency, search & rescue, firefighting and energy support services across eight countries worldwide with a fleet of 343 aircraft.

The total enterprise value derived from the purchase price amounts to SEK707 million (approximately €80 million). The agreement would see Avincis acquire 84.6 per cent of SAA for an initial cash consideration of SEK206.5 million with a further SEK84.2 million in the form of a vendor note payable in cash in two years’ time. The transaction is subject to the satisfaction of certain conditions and regulatory approvals prior to 30 June 2014.

SAA’s fleet of 22 aircraft annually transports more than 14,000 patients across Sweden, Finland and Denmark, making it a natural fit for Avincis whose mission is to save lives, protect the environment and safely transport mission critical people and assets. In 2013 Avincis flew 51,450 emergency medical service missions and carried out 2,100 sea and mountain rescues.

SAA would continue its existing operations serving customers across Scandinavia, and would continue to manage the business. SAA founder and CEO Henry Hansen would continue to lead SAA and all Avincis’ emergency services in Scandinavia. In addition, Henry Hansen would reinvest a significant portion of the equity of SAA.

As a part of Avincis, SAA would be provided with the organisational capability, resources and know-how to allow it to continue to grow and develop its operations throughout the Nordic region. Headquartered in London, Avincis provides central resources such as world-class safety and engineering operating systems, standards and expertise to its operating companies who serve their local markets and customers and retain their unique identities.

Avincis Group CEO James Drummond said: “SAA has a strong team and business which is very well aligned to the Avincis mission and values, and would bring not only Nordic expertise and experience, but 160 skilled people with an enviable track record of saving lives. I look forward to being able to welcome them to our Group and look forward to helping them grow the business.”

SAA CEO Henry Hansen said: “I am pleased at the prospect of joining forces with one of the world’s leading air ambulance providers. We have established SAA as a leading and professional Scandinavian air ambulance company, and Avincis’ support would allow us to build on that success.”

About Scandinavian Air Ambulance (SAA)
With bases across Sweden and Finland, SAA is one of Scandinavia’s largest air ambulance companies. The company’s vision is to be the leading air ambulance company in the Nordic region. Each year SAA flies 14,000 patients spread over approximately 11,000 flight hours. SAA currently operates 22 aircraft: 8 planes and 14 helicopters from 12 bases.

Missions can generally be divided into two categories: emergency transport from accident scene to the hospital or from one hospital to another, and non-emergency transportation between hospitals for surgery or aftercare. In both cases the air ambulance service supplement road ambulances as a faster and more convenient solution over longer or more remote distances. www.airamb.se

About Avincis Group
Avincis is one of the world’s leading providers of aviation services for mission-critical operations such as medical emergency, civil protection, search & rescue, coast and city surveillance, firefighting and energy support services. Based in the UK, Avincis provides central resources, safety and operating standards and systems and expertise to its operating companies who serve local markets and customers in Spain, Italy, France, Portugal, UK, Norway, Australia and Ireland. Of primary importance is Avincis’ oversight of safety standards across all its operations, with a global target of zero accidents.

Avincis’ companies operate mainly medium to long term concession-like contracts with governments and blue-chip corporations, taking advantage of the growth of the outsourcing industry worldwide. Avincis operates a fleet of around 350 aircraft and employs around 3000 people. In 2013, Avincis flew over 98,500 hours worldwide, performed 51,450 emergency medical service missions, 6,350 firefighting missions, 2,100 seas and mountains rescues and transported 173,000 oil and gas engineers, technicians and other passengers. Avincis also conducts maintenance for third-party clients on helicopter and fixed-wing contracts. www.avincisgroup.com

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