H.I.G. Capital News
H.I.G. Capital Recapitalizes Rotorcraft Leasing Company, L.L.C.
August 25, 2005 - H.I.G. Capital, a Miami-based private equity firm, announced today the recapitalization of Rotorcraft Leasing Company, L.L.C. Headquartered in Broussard, Louisiana, Rotorcraft is a leading provider of complete helicopter support services to oil & gas producers in the Gulf of Mexico. The Company provides comprehensive logistics and transportation services of personnel and equipment to offshore production platforms and drilling rigs with its fleet of 52 helicopters. Rotorcraft also provides full service helicopter maintenance via its FAA-certified helicopter repair and service facility, including parts, engine & component overhauls, and avionics.
“We welcome the H.I.G. team as a partner of the highest caliber,” said Lloyd Marks, the founder and current President of Rotorcraft Leasing Company. “As we continue to expand the business with new customer contracts, and to further penetrate existing customer accounts, we believe our association with H.I.G. Capital will allow us to more than double the earnings potential of Rotrocraft in the next 3-5 years.”
Rodger Bagwell, Rotorcraft’s CEO commented: “Our dynamic business presents a very scalable platform for further growth, with a long-list of longstanding and loyal customers. H.I.G. brings the strategic expertise to assist our organic growth, as well as a strong financial base for sensible, strategic acquisitions.”
“H.I.G. is extremely excited about our investment in Rotorcraft,” said Brian Schwartz, Managing Director of H.I.G. Capital. “We are in the business of investing in excellent management teams, and this transaction represents an ideal combination of management’s operational expertise with the industry experience, proprietary networks and capital of H.I.G. The manner in which Rotorcraft has demonstrably grown its leadership in the Shallow Waters region of the Gulf of Mexico gives us great confidence. We welcome the Rotorcraft team to the H.I.G. family of investments.”
ABOUT ROTORCRAFT LEASING COMPANY
Founded in 1990, Rotorcraft is the third largest operator in the Gulf of Mexico certified by the FAA to operate helicopter charters and execute long-term leasing agreements via its FAR 135 certification. The Company services the transportation needs of mid-major, “independent” oil & gas customers through six air bases located throughout Southern Louisiana. Flight planning and tracking for its continually expanding helicopter fleet are managed from central Flight Operations Support in Broussard. For more information, please visit www.rotorcraftleasing.net.
ABOUT H.I.G. CAPITAL LLC
H.I.G. Capital, L.L.C. is a leading private equity and venture capital investment firm with more than $2 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service businesses, and in promising early-stage technology companies. The firm currently has a controlling interest in more than 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.