Air Methods Corporation and American Securities LLC have announced the closing of American Securities´ acquisition of Air Methods, the companies said.
Goldman, Sachs & Co. and Centerview Partners LLC served as financial advisors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Holland & Hart LLP served as legal advisors to Air Methods. Barclays served as financial advisor, and Weil, Gotshal & Manges LLP served as legal advisor to American Securities.
In the tender offer for all of the outstanding shares of common stock of Air Methods at a price of USD 43.00 per share, 25,932,313 shares of Air Methods common stock were validly tendered and not validly withdrawn, representing approximately 71% of the shares outstanding. Approximately 12% of the shares tendered were represented by notices of guaranteed delivery.
On April 21, 2017, American Securities completed the acquisition of Air Methods through the merger of ASP AMC Merger Sub, Inc. with and into Air Methods. As a result of the merger, Air Methods is now a wholly-owned subsidiary of ASP AMC Intermediate Holdings, Inc., an indirect wholly-owned subsidiary of affiliated funds managed by American Securities. Air Methods´ common stock will no longer trade on the NASDAQ Stock Market.
Air Methods Corporation´s fleet of owned, leased or maintained aircraft features approximately 500 helicopters and fixed wing aircraft function in three divisions. Its Air Medical Services Division provides air medical transport services in the United States. Its Tourism Division, comprised of Sundance Helicopters, Inc. and Blue Hawaiian Helicopters, provides helicopter tours and charter flights in the Las Vegas/Grand Canyon region and Hawaii. The United Rotorcraft Division specializes in the design and manufacture of aeromedical and aerospace technology. .
Based in New York with an office in Shanghai, American Securities is a US private equity firm that invests in North American companies with annual revenues generally ranging from USD 200m to USD 2bn and/or USD 50m to USD 300 million of EBITDA. American Securities and its affiliates have approximately USD 15bn under management.