CD&R Completes Investment in CHC with third share purchase

CD&R Completes Investment in CHC with third share purchase

17-Dec-2014 Source: CHC

Funds affiliated with Clayton, Dubilier & Rice LLC (CD&R) have completed the third stage of CD&R’s investment in CHC Group Ltd. (NYSE:HELI) through the purchase of convertible preferred shares in a private placement.

Consistent with terms of an investment agreement that CHC and CD&R entered into on Aug. 21, CD&R has purchased an additional 100,000 of the preferred shares for a price of $100 million. These shares represent all of the preferred shares that were available in a rights offering to existing shareholders of CHC, an offering that was cancelled when participation by the existing shareholders failed to meet the minimum threshold for completion.

This purchase by CD&R follows the purchase of 116, 000 convertible preferred shares for a price of $116 million on Oct. 30, and the purchase of 384,000 convertible preferred shares for a price of $384 million on Nov. 12.

CHC plans to use proceeds from the investment primarily to reduce debt and other fixed charges.

About CHC Group Ltd.

CHC Group Ltd. is a commercial operator of helicopters focused on enabling customers to go further, do more and come home safely. CHC provides helicopter flight services to oil and gas companies and government search-and-rescue agencies, and helicopter maintenance, repair and overhaul services to organizations through the Heli-One segment. The company operates 233 aircraft in about 30 countries around the world.

About Clayton, Dubilier & Rice

Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. CD&R manages approximately $21 billion on behalf of its investors and since inception has acquired 62 businesses with an aggregate transaction value of more than $90 billion. For more information, please visit www.cdr-inc.com.

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