March 20 - Oregon, USA based Erickson Air-Crane International is set to acquire Evergreen Helicopters Inc. (EHI) in a deal worth USD250 million.
Erickson Air-Crane - operator and manufacturer of the Erickson S-64 Aircrane heavy-lift helicopter - executed a stock purchase agreement of EHI from Evergreen International Aviation.
EHI, based in McMinnville, Oregon, is a provider of air transport services for cargo and personnel to government and commercial customers. The acquisition will land Erickson Air-Crane a fleet of 64 aircraft, consisting of both helicopters and fixed-wing airplanes. EHI has a presence in North America, Middle East, Africa and the Asia-Pacific.
Udo Rieder, president and ceo, Erickson Air-Crane, said: "We are very excited to be on the cusp of truly transforming our business. We are successfully transcending our market position as a leader in heavy-lift operations to build a diverse, global aviation services provider."
The transaction is expected to close during the second quarter of 2013.