Chicago’s Wind Point buys med transport co

Wind Point Partners agreed to acquire medical air transport provider Omniflight in a deal said by sources to be north of $200 million.

Michigan-based Wind Point Partners has inked a deal to acquire Omniflight, a provider of air transport and medical services, in a deal said to be north of $200 million (€165 million). Sources have confirmed that Antares is leading the debt syndicate for the transaction, although there is no word yet as to when the deal is expected to close.

Omniflight: Texas-based medical air-transport provider

Based in Addison Texas, Omniflight was originally founded by Dan Parker in 1962, with flight operations focused on tourism, corporate and utility activities. According to Omniflight’s Web site, Parker had served in the Nixon Administration during the Vietnam War, where he was introduced to the “golden hour” concept, designating 60 minutes as the window in which critically wounded soldiers could survive. Following his tour in Vietnam, Omniflight transitioned into medical transport.

Last year, Omniflight generated EBITDA of roughly $25 million, according to a source, on almost $90 million of revenue.

The sale to Wind Point represents the company’s second bout with private equity investors. In 2003, The Texas Growth Fund and Navigator Equity Partners acquired the business in a management buyout alongside company chairman Mark Johnson.

Wind Point Partners, meanwhile, closed its latest fund earlier this year, Wind Point Partners VI LP. The firm had set a target of $500 million, but ultimately closed the vehicle at $700 million. Most recently, Wind Point announced the acquisition of Italian cookie maker Mamma Sez Inc. as an add-on to its Nonni’s platform.

Both Wind Point and Omniflight declined comment regarding the acquisition.