Eurocopter Pays $625 Million For Vector | Aviation International News

Eurocopter Pays $625 Million For Vector

Vector Aerospace will maintain its separate identity as a stand-alone MRO (maintenance, repair and overhaul) company even after it is acquired by Eurocopte

By AIN Staff • AIN Staff

April 27, 2011

Vector Aerospace will maintain its separate identity as a stand-alone MRO (maintenance, repair and overhaul) company even after it is acquired by Eurocopter Holdings, according to Vector CEO Declan O’Shea. In late March, the parent company of the helicopter OEM announced a deal to acquire Canada-based Vector for $625 million, pending two-thirds shareholder approval as well as regulatory approval in Canada and the UK.

Vector, which began independent operations in 1998 after CHC Helicopter spun off its in-house MRO as a separate public entity, had been in play since late last year when it hired Scotia Capital to pursue “strategic options” for the company. With a net debt of only $3 million and consistent double-digit earnings growth, Vector was seen as a particularly attractive acquisition target. The purchase valuation of $13 per share represents a substantial premium over recent share price–more than 80 percent higher than December trading.

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