South Africa-based Ultimate Aviation has acquired North Sea helicopter services provider Offshore Helicopter Services.
OHS UK was previously acquired by CHC from FTSE 250 company Babcock International Group plc in 2021, along with Babcock’s offshore oil and gas operations in Denmark and Australia.
Following a Phase 2 investigation by the UK’s Competition and Markets Authority (CMA), the CMA determined in August 2022 that CHC would be required to divest OHS UK, and an auction process was undertaken. A sale and purchase agreement was signed on December 30,2022 under which CHC agreed to sell OHS UK to Ultimate Aviation Group.
"The deal has now been completed, and both parties believe the acquisition presents exciting opportunities for OHS," OHS said.
Paul Kelsall, Managing Director of OHS, commented: "With Ultimate Aviation's backing, extensive network and client base, OHS is set to expand and improve its services, while still maintaining our company culture, values, and commitment to our clients.
“Operating as an independent business working alongside the Ultimate Aviation Group we will be in a strong position to put in place a strategy and vision that suits our market and allows us to grow.
“We want to thank our employees for their hard work, dedication, and commitment to OHS the past 18 months, and we look forward to the opportunities that this partnership will bring."
"OHS will continue to operate under its current name, and its team will remain intact. The acquisition is effective immediately, and OHS will work closely with Ultimate Aviation to begin exploring new opportunities," OHS said.
Shaun Roseveare, Chief Executive Officer of Ultimate Aviation, added: “This acquisition marks an exciting new chapter for our business, and we are looking forward to expanding our reach into Europe.
"The energy sector as a whole has faced significant challenges in recent years and OHS has not been immune to this.
“However, with steadier market dynamics now emerging both OHS and Ultimate Aviation believe that with the right plan in place there is significant scope for growth.
“With more operational freedom to react to changes in the market, OHS and Ultimate will work together to look at opportunities, apply operational excellence and develop new capabilities in order to secure a successful future for the group.
“I want to thank the OHS team for their dedication to the business during the 18 month CMA process. It has been challenging but the business has now come out of the process stronger with a clear road map ahead.”