Air Methods sold to American Securities in $2.5bn deal

BY James Williams

Air medical transport provider Air Methods Corporation and leading US private equity firm American Securities LLC announced that the $2.5bn (including debt) acquisition of Air Methods by American Securities has closed.

As well as being the largest domestic air medical transport provider in the $5bn air medical market (serving 48 states with over 300 bases of operations), Air Methods also operates a leading air tourism business and employs more than 5000 people – including over 1000 retired and active duty military veterans.

With one of the youngest fleets in its industry, which includes its airborne intensive care units (ICUs) dedicated to emergency air medical services, Air Methods provided more than 70,000 patients with lifesaving care last year.

“As a private company, Air Methods will have greater flexibility to execute our strategy and pursue long-term growth,” said Aaron Todd, chief executive of Air Methods. “We look forward to partnering with American Securities to strengthen our market position in air medical transportation and air tourism.”

Acquirer American Securities, based in New York with an office in Shanghai, invests in market-leading North American companies with annual revenues generally ranging from $200m to $2bn and/or $50m to $300m of earnings before interest, tax, depreciation and amortisation (EBITDA). The firm and its affiliates have approximately $15bn under management.

“We have strong admiration for the men and women at Air Methods and their commitment to providing critical access to care for patients and communities served,” commented Marc Saiontz, managing director of American Securities. “The Air Methods team has a paramount focus on clinical care and aviation safety, and on providing hospitals and local communities with the highest quality air ambulance services available. We are excited to assist the company in this critical mission.”

Financial advisers to Air Methods are Goldman Sachs and Centerview Partners LLC, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Holland & Hart LLP are the company’s legal advisers. Legal adviser to Americana Securities is Weil, Gotshal & Manges LLP.

The Air Methods/American Securities transaction is expected to close by the end of the second quarter of 2017.

News: American Securities completes purchase of medical transport provider Air Methods

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