Avincis to buy Scandinavian Air Ambulance for €80 Million
Scandinavian Air Ambulance (SAA), the foremost provider of air ambulance services in the Nordic region, today announced its intention to join the Avincis Group (Avincis), a leading international provider of mission critical aviation services.
The agreement would see the business take its place alongside Avincis’ existing companies which deliver medical emergency, search & rescue, firefighting and energy support services across eight countries worldwide with a fleet of 343 aircraft.
The total enterprise value derived from the purchase price amounts to SEK707 million (approximately €80 million). The agreement would see Avincis acquire 84.6 per cent of SAA for an initial cash consideration of SEK206.5 million with a further SEK84.2 million in the form of a vendor note payable in cash in two years’ time. The transaction is subject to the satisfaction of certain conditions and regulatory approvals prior to 30 June 2014.
SAA’s fleet of 22 aircraft annually transports more than 14,000 patients across Sweden, Finland and Denmark, making it a natural fit for Avincis whose mission is to save lives, protect the environment and safely transport mission critical people and assets. In 2013 Avincis flew 51,450 emergency medical service missions and carried out 2,100 sea and mountain rescues.
The agreement would see the business take its place alongside Avincis’ existing companies which deliver medical emergency, search & rescue, firefighting and energy support services across eight countries worldwide with a fleet of 343 aircraft.
The total enterprise value derived from the purchase price amounts to SEK707 million (approximately €80 million). The agreement would see Avincis acquire 84.6 per cent of SAA for an initial cash consideration of SEK206.5 million with a further SEK84.2 million in the form of a vendor note payable in cash in two years’ time. The transaction is subject to the satisfaction of certain conditions and regulatory approvals prior to 30 June 2014.
SAA’s fleet of 22 aircraft annually transports more than 14,000 patients across Sweden, Finland and Denmark, making it a natural fit for Avincis whose mission is to save lives, protect the environment and safely transport mission critical people and assets. In 2013 Avincis flew 51,450 emergency medical service missions and carried out 2,100 sea and mountain rescues.