AIRM
Air Methods Retains Advisor to Evaluate Aerospace Technology Acquisitions
DENVER, Nov. 3 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) Products Division announced that it retained mergers and acquisitions specialist, Emerge Corporation (http://www.emergecorp.com), to assist in developing its acquisition strategy and target identification to expand the Division's rapidly growing aerospace technology products business. With offices in Costa Mesa, CA, Seattle, WA, and Chicago, IL, Emerge specializes in middle market transactions and is an affiliate of Pacific Mezzanine Investors who manage a $260 million fund for investment.
George W. Belsey, Chairman and CEO, said, "We are very pleased to have engaged Emerge's expertise to assist with this M&A process. This initiative will complement and leverage the Division's already strong organic growth in an effort to achieve a $50 million revenue target in five years."
Michael G. Prieto, Vice President of the Products Division, said, "Since the Division was created in 1994, we have become a global leader in providing technology solutions for the air medical transportation market. We are a key subcontractor providing the Multi-Mission Medevac System for the U.S. Army's UH-60Q Program potentially yielding revenue for Air Methods in excess of $150 million over the next twenty years. In addition, the Products Division is also the prime contractor for the development and manufacture of the U.S. Air Force's Spinal Cord Injury Transport System."
As a result, Ronald J. Speyer, Chairman and CEO of Emerge, said "We are very excited about the opportunity to assist Air Methods in evaluating opportunities for diversification within the multi-billion dollar aerospace market. With the ongoing consolidation of the aerospace industry, a timely opportunity has been created for the right kind of middle market companies to become primary suppliers in a lucrative, worldwide industry."
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