Air Methods & Rocky merged | Aviation International News

Air Methods & Rocky merged

Finalizing an acquisition process long under way, leading aeromedical transport operator Air Methods of Denver acquired Rocky Mountain Holdings (RMH) of Pr

By Bill Wagstaff

May 8, 2008

Finalizing an acquisition process long under way, leading aeromedical transport operator Air Methods of Denver acquired Rocky Mountain Holdings (RMH) of Provo, Utah, owner of Rocky Mountain Helicopters, itself a major aeromedical operator. Under the terms of a deal completed on October 17, Air Methods must pay a cash purchase price of $28 million for 100 percent of RMH’s equity, an amount that was later increased to $33.6 million to reflect changes to the net equity recorded since last December 31.

Assumed long-term debt and outstanding balances on RMH’s working capital line of credit, net of cash, aggregated to $36.2 million as of last Sept. 30. Additional consideration of up to $2.6 million is possible through earn-out provisions set forth in the definitive purchase agreement, which, if earned, would be paid out over the next several years.

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