Boca Raton, Florida — Brockway Moran & Partners, Inc. (Brockway Moran) and Meridian Venture Partners (Meridian) through their investment in Air Medical Group Holdings, Inc. (Air Medical Group Holdings), announced today that they have acquired Southwest Helicopters, Inc., a provider of emergency air medical transportation and other services.
Southwest Helicopters, Inc., based in Tucson, Arizona, is a leading provider of air ambulance programs in the Dallas/Ft. Worth area, as well as charter and fire fighting services in the western United States. The company conducts its air medical operations under the name of Texas Lifestar and has programs at five locations, including Sherman, Killeen, Greenville, Decatur and Glen Rose. The company’s fleet, consisting of eight Bell helicopters and three Eurocopter helicopters, delivers teams of highly trained medical and flight professionals to patients requiring emergency medical care and transports the patient to the appropriate medical facility. It is anticipated that the company will continue to provide its services under the Texas Lifestar name and that its operations will be coordinated with the Air Evac Lifeteam subsidiary of Air Medical Group Holdings, which currently operates 12 locations in the state of Texas and is the largest air medical provider in the state.
Mike Moran, a Managing Partner at Brockway Moran & Partners and Chairman of Air Medical Group Holdings, stated: “Southwest Helicopters has developed a strong market position in its communities surrounding the Dallas/Ft. Worth area and a reputation for quality patient care and safety in over 25 years of operations. We look forward to continuing the company’s track record of success and customer service.”
About Air Medical Group Holdings
Air Medical Group Holdings is a leading provider of emergency air medical services through two subsidiaries, Air Evac Lifeteam and Med-Trans Corporation, which partner with leading hospital systems, medical centers and EMS agencies to offer improved access to emergency medical care. Air Evac Lifeteam (www.air-evac.com) is a West Plains, Missouri-based provider of air ambulance services to rural communities across 11 states, serving over 1,300 diverse referral sources, including over 600 hospitals and 700 EMS agencies. Air Evac Lifeteam has developed a highly successful and innovative community-based model which has grown from 14 to 64 bases over five years and attracted nearly half a million members in support of its presence in rural communities. Med-Trans (www.med-trans.net), with corporate offices in Bismarck, North Dakota, and Tucson, Arizona, is a provider of air medical programs focused on establishing partnerships with leading hospital systems, medical centers and EMS agencies through 14 programs across 8 states. Med-Trans is able to offer customized air ambulance programs through alternative delivery/shared resource models, community based models or traditional hospital-based models and has grown from 4 to 14 programs over five years.
About Brockway Moran & Partners
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $250 million in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 40 acquisitions. For more information, visit www.brockwaymoran.com.
About Meridian Venture Partners
Meridian Venture Partners is a private equity firm based outside of Philadelphia, PA, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. Founded in 1987, the firm manages over $200 million in capital. Meridian leverages its professionals’ expertise and its capital by partnering with accomplished management teams to build successful companies. Deploying a sector-diversified portfolio strategy, Meridian invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies. For more information, visit www.meridianventures.com.