CHC LLC purchases Babcock
1 further point, I do wonder what happens with the DB pension liabilities and whether this was transferred from Bond - Babcock - CHC or whether there is a separate trust fund setup. When CHC bought it for £10m, did they also take on the historical DB fund liabilities from decades previous? Hmm.
The "old Bond" DB pension liabilities do sit with CHC, but purely as a result of the purchase of the Helikopter Services Group by CHC in 1999.
This CMA report (the full fat 229 pages) refers to Bain Capital Credit LP and Cross Ocean Partners Management LP in particular.
https://www.baincapitalcredit.com/
Cross Ocean Partners
UK to accept CHC's undertakings in Babcock helicopter deal
Reuters
1 minute readLONDON, July 15 (Reuters) - Britain's competition regulator said on Friday it proposed to accept the final undertakings given by CHC Group in relation to its acquisition last year of Babcock's helicopter services unit.
($1 = 0.8448 pounds)
UK to accept CHC's undertakings in Babcock helicopter deal
Reuters
1 minute readLONDON, July 15 (Reuters) - Britain's competition regulator said on Friday it proposed to accept the final undertakings given by CHC Group in relation to its acquisition last year of Babcock's helicopter services unit.
($1 = 0.8448 pounds)
WTF does that mean?
Details are on gov website, the acceptance is chc's proposal for sale, its just the formal acceptance
Docs are downloadable
https://www.gov.uk/cma-cases/chc-slash-babcock-merger-inquiry
Docs are downloadable
https://www.gov.uk/cma-cases/chc-slash-babcock-merger-inquiry
Ultimate Aviation Group to buy Babcock/Offshore Helicioter Services from CHC?
Any truth to the rumour that Ultimate Aviation (SA) Group is to buy to Babcock/Offshore Helicioter Services from CHC?
https://ultimate-aviation.net/
https://ultimate-aviation.net/
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Doesn’t surprise me to be fair. Had the CMA not intererfered, OHS wouldn’t exist. One would think the declining market isn’t there to keep 4 operators afloat and that OHS are in the most vulnerable position.
How long will they last? Running an AOC and all the positions that need to be legally in place is very expensive. Babcock really did have a race to the bottom mentality and I believe CHC for example recently cut ties with the Danish work they had gained from Babcock due to profitability.
Perhaps this was the plan? Give the CMA what they want but leave a “viable business” on paper unviable? Or perhaps they just have too many staff? I seem to recall when the CHC / Babcock merger was on the cards, CHC were lean and Babcock were heavy with staff positions. Perhaps they are now just cutting the fat and needing to run it as lean as possible so that the company survive?
CHC seem to be a lot busier recently.
How long will they last? Running an AOC and all the positions that need to be legally in place is very expensive. Babcock really did have a race to the bottom mentality and I believe CHC for example recently cut ties with the Danish work they had gained from Babcock due to profitability.
Perhaps this was the plan? Give the CMA what they want but leave a “viable business” on paper unviable? Or perhaps they just have too many staff? I seem to recall when the CHC / Babcock merger was on the cards, CHC were lean and Babcock were heavy with staff positions. Perhaps they are now just cutting the fat and needing to run it as lean as possible so that the company survive?
CHC seem to be a lot busier recently.