Swiss Life Asset Managers has agreed to acquire a controlling stake in Eliance, an European aerial emergency service (AES) provider, from Buenavista Equity Partners and Himilcon. Existing shareholder RiverRock will remain a minority investor in the company.
Swiss Life Asset Managers is making the investment on behalf of its Swiss Life Global Infrastructure Opportunities Growth II fund, which has a target size of €1 billion ($1.1 billion). Financial terms of the investment were not disclosed.
Eliance is a Madrid-based provider of helicopter emergency-medical services, firefighting and search-and-rescue operations, with operations in Spain, Italy and Croatia. The company operates and maintains a diverse fleet of 100 aircraft and helicopters and is one of only two accredited Airbus maintenance providers in Spain.
Eliance has a strong track record of delivering growth through internationalization and winning new public tender contracts. Most recently the company e
