Ardian signs an agreement to sell its stake in NHV to GD Helicopter Finance

Ardian, a global private investment firm, announces it has entered into exclusive discussions with GD Helicopter Finance (“GDHF”) to sell its majority stake in NHV, a leading European helicopter operator specializing in B2B services.

Founded in 1997 and headquartered in Ostend, Belgium, NHV has grown to become a leading B2B helicopter service provider, operating around the North Sea and West Africa. It has over 400 employees and operates a modern fleet of 28 aircraft, with a special focus on offshore transportation, including for the Oil & Gas and Maritime sectors. Its transportation services are complemented by maintenance, repair, overhaul and training activities.  

Since its investment in NHV in 2013, Ardian has helped the company expand its historical offshore operations in Europe, notably as the launching customer of Airbus’ H175, one of the first “super-medium’ helicopters, but also via the acquisition of Blueway Group in 2014. In addition, it supported the Group’s diversification into MRO and training services, as well as expansion in the Defense sector. The company has demonstrated strong resilience over the past ten years in the context of wider market challenges, and has managed to return to a good organic growth trajectory and profitability. With Ardian’s support, Lars-Henrik Thorngreen has also been appointed as CEO one year ago, and promoted internal talents to its management team, who have demonstrated their ability to drive the company’s future growth.

The partnership with GDHF, a helicopter leasing and finance company based in Ireland, will combine GDHF's large helicopter portfolio with NHV's operational expertise to capture growing market opportunities, both in the group's traditional sectors and in new segments.

“We are proud of our longstanding partnership with NHV and opportunities we have created together. The sale to GDHF demonstrates NHV’s strong strategic value and proven operational expertise in the sector. The company now is ideally positioned to capture growth potential in Europe and West Africa, in an industry with high barriers to entry. We would like to thank Lars-Henrick Thorngreen and the whole NHV team for their commitment throughout our collaboration and we wish NHV and GDHF every success 

“In the last ten years, NHV has been transformed to become a European leader in the B2B segment across a range of industries. Ardian’s operational expertise has been invaluable in helping us maintain cash generation, particularly through more difficult market conditions, and position the business for further development in the years to come. We are looking forward to the next steps of NHV’s growth story and to combining our strengths with GDHF to offer the best helicopter transportation services.” Lars-Henrik Thorngreen, CEO, NHV
 

The completion of the transaction remains subject to the usual regulatory approvals and customary closing conditions.