GE Capital lends $10 mln for acquisition of helicopter services company
GE Capital has provided a $10 million senior credit facility to a group of investors to purchase and operate Universal Helicopters Newfoundland and Labrador (UHNL), a regional helicopter services company formerly owned by Harry R. Steele and Norman Noseworthy. The investor group is comprised of Nunatsiavut Group of Companies, Tasiujatsoak Trust and CAPE Fund, a Canadian private equity fund focused on investing in aboriginal businesses and entrepreneurs. The financial terms of previously-announced acquisition agreement were not disclosed. Based in Goose Bay, Labrador, UHNL operates 20 helicopters and provides passenger transport, mineral exploration, search and rescue, forest fire suppression, and other services.
10 December 2013•4 mins read
