Fundamental Advisors Shifts Investment Strategy with HeloAir Acquisition | Aviation International News

Fundamental Advisors Acquires Utility Operator HeloAir

Purchase marks company’s first investment in utility helicopter segment

HeloAir Bell 407 helicopter aerial filming — One of HeloAir’s specialties is aerial filming with this Bell 407.

By Matt Thurber • Editor-in-Chief

January 27, 2025

Asset management company Fundamental Advisors made its first investment in the helicopter business with the acquisition of HeloAir. The Richmond, Virginia-based helicopter operator specializes in pipeline and powerline patrol, charter, aerial filming, fire suppression, and external load operations. HeloAir was founded in 1993 and patrols more than 50,000 miles of pipelines and 10,000 miles of powerlines every year and has overseen 750,000 acres of controlled fire burn.

The purchase supports Fundamental’s plans “to invest behind businesses supporting public safety missions that protect critical national infrastructure, with a focus on cutting-edge companies leveraging helicopters and aerial firefighting services to monitor the electrical grid and gas pipelines for utility customers,” according to the company. Founder and president Whit Baldwin retained a stake in HeloAir, and he and the management team will continue in their leadership roles.

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