Praesidian Capital Europe Provides First Lien Debt To Support Acquisition of Helideck Certification Agency Limited
LONDON – November 24, 2014 – Praesidian Capital Europe (“Praesidian”), which provides senior and subordinated debt along with growth capital predominantly to UK companies, announced today that it has provided first lien debt to support the acquisition of Helideck Certification Agency Limited (“HCA”) by a group of private investors.
Headquartered in Aberdeen, Scotland, HCA is the leading provider of inspection and certification services for offshore fixed and mobile helicopter landing areas known as “helidecks.” HCA’s Helicopter Landing Area Certificates (“HLA Certificates”) are “mission critical” documents ensuring the safe and compliant operation of helidecks and are recognised by regulatory authorities and helicopter companies around the world. HCA also provides friction testing, specialist training and verification and consulting across all aspects of helideck safety.
“HCA serves an important niche by providing certifications that are considered the industry standard,” stated Jason Drattell, Praesidian Founder. “We are pleased to provide the necessary financial support for the acquisition of HCA and to participate in its future going forward.”
According to Christian Heidl, Praesidian Partner, “HCA is the go-to authority in the UK and Europe with attractive growth prospects internationally. We are delighted to have entered into this partnership with HCA, its new owners and management, to strengthen its foundation for the next phase of growth.”
HCA was founded in 1997, by the UK helicopter industry in response to increasing oversight by the UK regulator. Prior to its acquisition, HCA was owned by Bristow Group, Inc., and CHC Group Ltd., the two world-leading helicopter operators. With offices in the UK and Norway, HCA operates primarily in the North Sea and to a lesser degree in Africa, Asia, and the Middle East.
HCA is responsible for the inspection and certification of more than 700 helidecks on offshore vessels and installations operating in UK and Norwegian waters utilising the criteria in UK CAP437 or Norwegian Civil Aviation Regulations BSL D 5-1 as the basis for inspections. In addition, the company provides services to major oil companies, platform constructors, helicopter operators, shipping registries, and national civilian aviation authorities worldwide.
Praesidian Capital Europe
Praesidian Capital Europe is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to established lower middle market businesses in the United Kingdom, Germany, and selectively in Northern Europe. Established in 2013 and based in London, Praesidian invests in private small and mid-sized companies, often in connection with management buyouts, recapitalisations or refinancings. Praesidian Capital manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
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