Memo from CHC Management - As you are aware...NOT!!!
Dear Colleagues,
As you are now aware, CHC’s shareholders have been presented with an offer from First Reserve Corporation to purchase all the outstanding shares of the company. CHC’s Board of Directors has examined the proposal and have unanimously recommended that shareholders accept the offer. It is expected, but not assured that the majority of shareholders will vote to accept the offer, resulting in CHC being acquired by First Reserve Corporation.
This is very exciting news for CHC. First Reserve is a well established energy-focused private equity firm, which will bring many strategic benefits to CHC. Headquartered in Connecticut, First Reserve has been involved in the oil and gas industry for more than 25 years and has extensive experience in the energy sector. Included in First Reserve’s portfolio are prominent companies such as Weatherford, Abbot, Cal Dive and Beryl Resources. First Reserve’s mission is to nurture and grow businesses, and they are excited about CHC’s growth strategy in support of the oil and gas industry, and Heli-One’s MRO business.
First Reserve views CHC as a great investment. The company is not simply buying CHC’s outstanding shares, but is buying CHC’s strategy and plan for the future. First Reserve is interested in partnering with the existing management team and employees to continue their successful record of growing and expanding the business. First Reserve believes CHC has tremendous potential and is ideally positioned to capture the phenomenal growth in both the oil and gas and MRO industries.
As part of First Reserve’s portfolio, CHC will benefit from their experience and contacts throughout the industry. First Reserve will provide CHC with new opportunities to expand and improve the services we provide. They will also assist the current management team to improve CHC’s systems and processes, and introduce best practices developed across First Reserve’s portfolio of companies.
CHC has prospered under the leadership of the late Craig L. Dobbin, whose vision and entrepreneurial spirit has made CHC what it is today. I look forward to partnering with the team at First Reserve to build on such a great legacy and continue to grow. I am energized and excited about this new chapter in CHC’s evolution.
Please refer to the attached Q & A for more information, and direct any additional questions to your divisional President or designate. This is a great opportunity for CHC, lets all work hard to ensure our great company’s continued success.
Sincerely,
Sylvain Allard
President and Chief Executive Officer