Business
Crown Capital Partners Announces $8.0 Million Term Loan with Canadian Helicopters Limited
Crown Capital Partners Announces $8.0 Million Term Loan with Canadian Helicopters Limited ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Announces $8.0 Million Term Loan with Canadian Helicopters Limited\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 29, 2017\n\n\n\nCALGARY, Dec. 29, 2017 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or \"the Corporation\") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the closing of a $8.0 million term loan (the \"Agreement\") with Canadian Helicopters Limited (\"Canadian Helicopters\"), which is part of the HNZ Group of Companies (\"HNZ\") (TSX: HNZ), an international provider of helicopter transportation and related support services. \n\nCanadian Helicopters is the largest helicopter transportation services company in Canada with a network of 11 strategically located fixed bases to support operations throughout the country. Canadian Helicopters owns and operates 91 light, medium, and heavy lift helicopters. In addition to charter services, Canadian Helicopters provides flight training and helicopter repair and maintenance services. Its customers include the US Department of Defense (North Warning System), Canadian Department of National Defense, Federal Government of Canada, Nova Scotia Department of Health and Bell Helicopter. \n\nOn October 31, 2017, HNZ and PHI, Inc. (\"PHI\") announced they have entered into an arrangement agreement pursuant to which Don Wall, HNZ's President and CEO, will acquire all the issued and outstanding shares of HNZ. As part of the arrangement, PHI will acquire the portion of HNZ's offshore business conducted in New Zealand, Australia, the Philippines and Papua New Guinea, and Don Wall will retain Canadian Helicopters (the onshore operations). Total onshore revenues for the three- and nine-month periods ended September 30, 2017 were $29.2 million and $57.4 million, respectively. \n\n\"We're pleased to support Don and his team in the acquisition of Canadian Helicopters,\" said Chris Johnson, Crown's President & CEO. \"This is a very well-established operation with a solid reputation for safety and quality of service. T...