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The price paid includes all of Multifabs’ outstanding debt.
In a statement CHC said, “Multifabs, together with CHC’s existing safety equipment supply and management services, comprises a new business unit with annual revenues of approximately [US$18 million]. [It] complements [our] existing third-party marine, military and aviation safety equipment business of [our] Astec Helicopter Services division; adding an incremental [US$11.5 million] in annual revenue.”
“This new business unit provides good growth potential, particularly in the strategically important U.K. and U.S. government markets. This acquisition will enhance CHC’s ability to deliver the most comprehensive, cost-effective offshore services package to its customers in the oil and gas and Search and Rescue sectors,” added CHC.
