HANGAR TALK


to our results and we are pleased to deliver that value to our shareholders." Mr. Rieder continued, "We expect to


Digital and App magazine readers can watch video on Erickson by clicking the play button. Total consideration for the acquisi­


Erickson Air-Crane Closes Transformative Acquisition of Evergreen Helicopters


Erickson Air­Crane Incorporated, a


leading global provider of aviation serv­ ices to a diverse mix of commercial and government customers and the verti­ cally integrated manufacturer and operator of the powerful, heavy­lift hel­ icopter, the Erickson S­64 Aircrane, recently announced that it had closed its acquisition of Evergreen Helicopters, Inc. (EHI) from Evergreen International Aviation, Inc. (EIA). EHI, based in McMinnville, Oregon,


currently operates a fleet of 65 aircraft of varying rotary­wing and fixed­wing types for a wide range of passenger transport and light, medium and heavy load­carrying missions. This diverse fleet serves both government and com­ mercial customers, including significant and critical programs with the US Military in support of overseas opera­ tions. EHI maintains a global presence with operations in North America, the Middle East, Africa, and Asia­Pacific.


22 June 2013


tion was: $185 million cash, $17.5 million in unsecured promissory notes issued by Erickson, and approximately four million newly­issued preferred shares, mandatorily convertible at the option of the Company, into an equal number of common shares, subject to share­ holder approval under NASDAQ mar­ ketplace rules, which the Company now intends to seek. As part of the acquisition, Erickson funded the acqui­ sition by EHI of nine aircraft from an affiliate of EIA for approximately $13 million. As part of its integration plans, the Company will consolidate opera­ tions and will incur restructuring and other costs as a result. Udo Rieder, Chief Executive Officer


of Erickson, commented, "This acquisi­ tion marks the beginning of a new chapter in the history of our company. We will see an immediate increase in scale, have a wider range of mission capabilities, do business with an expanded suite of customers, and reduce risk through a greatly enhanced level of diversification, including a truly global footprint. We believe that we will quickly demonstrate that our ongo­ ing strategic acquisition program is a powerful use of our access to capital. We are excited that this acquisition is expected to be immediately accretive


quickly follow this transaction with the closing of our planned acquisition of Air Amazonia, which is squarely focused on the fast­growing South American oil and gas market. These deals are trans­ formative and, combined with our core, vertically integrated operations and expertise in the heavy­lift market, we are emerging as a new Erickson. We are excited to begin a thoughtful and focused process of integration designed to fully leverage the deeper pool of talent, highly capable infra­ structure and valuable, versatile base of assets now at our disposal. We are very pleased to welcome our many new team members and are confident that, together, we will foster a strong cul­ ture, a shared vision for the future and a deep commitment to our customers around the world. We believe that by sharing best practices and creating effi­ ciency across the organization we will create an enduring focus on driving sus­ tainable, high­margin growth." 


Night Vision Awards Announces Call for Entries


The Night Vision Awards selection


committee recently announced that they are now taking nominations for the 2013 Night Vision Awards Show to be held in Orlando at the Airborne Law Enforcement Agency's (ALEA) annual conference. Awards will be presented to recipients on Thursday, July 18th at an awards reception from 4:30­6 p.m. "The last awards held at ALEA last summer was a great event and ended up being standing room only," said


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