M&A Deal Summary

Exchange Income Acquires Provincial Aerospace

On November 12, 2014, Exchange Income acquired aerospace company Provincial Aerospace for 246M USD

Acquisition Highlights
  • This is Exchange Income’s 7th transaction in the Aerospace sector.
  • This is Exchange Income’s largest (disclosed) transaction.
  • This is Exchange Income’s 9th transaction in Canada.
  • This is Exchange Income’s 1st transaction in Newfoundland.

M&A Deal Summary

Date 2014-11-12
Target Provincial Aerospace
Sector Aerospace
Buyer(s) Exchange Income
Deal Type Add-on Acquisition
Deal Value 246M USD
Advisor(s) BMO Capital Markets (Financial)
Dentons
McInnes Cooper (Legal)

Target

Provincial Aerospace

St. John's, Newfoundland, Canada
website
Provincial Aerospace Ltd. is a provider in intelligence, surveillance, reconnaissance and maritime patrol aircraft operations and systems and is a vertically integrated aerospace and defence company focused on mission systems design and integration, aircraft modifications, surveillance operations, logistics and in-service support.

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Buyer(S) 1

Buyer

Exchange Income

Winnipeg, Manitoba, Canada

website


Category Company
Sector Diversified
Employees4,340
Revenue 1.2B CAD (2020)
DESCRIPTION

Exchange Income is a diversified acquisition-oriented company, focused in three sectors: aviation services and equipment, metal manufacturing, and infrastructure services. The Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters and Regional One. The Manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, and Stainless Fabrication. The Infrastructure segment consists of the operation of WesTower Communications (Canada). Exchange Income is based in Winnipeg, Canada.


DEAL STATS #
Overall 12 of 14
Sector (Aerospace) 7 of 7
Type (Add-on Acquisition) 12 of 14
State (Newfoundland) 1 of 1
Country (Canada) 9 of 10
Year (2014) 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-20 WesTower Communications

Orlando, Florida, United States

WesTower Communications, Inc. is a telecommunications services firm, focusing on construction and maintenance of communications infrastructure related to wireless networks throughout the United States.

Sell $199M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 Carson Air

Kelowna, British Columbia, Canada

Carson Air is a provider of fixed-wing air ambulance services. The company provides fixed-wing air ambulance services, air cargo services, and operates a flight school. Carson Air was founded in 1990 and is based in Kelowna, British Columbia.

Buy $61M