Alternative asset manager Fundamental Advisors has launched its helicopter investment strategy, along with the acquisition of HeloAir on January 9, 2025. HeloAir is a regional operator of utility and fire suppression helicopters, based in Richmond, Virginia.
The acquisition of HeloAir is the first transaction for Fundamental out of its new helicopter investment strategy. The strategy is focussed on providing essential services across the US, an extension of the firm's focus on investing in municipal services and public purpose assets.
HeloAir will continue to be led by founder and president Whit Baldin. He will retain a stake in the business, as well as the existing management team.
“Whit and his team have built a best-in-class business providing necessary infrastructure monitoring services for communities across the Mid-Atlantic, and this partnership underscores our strategy of supporting businesses with experienced management teams in markets where we see opportunity to provide public purpose-driven solutions,” said Fundamental senior managing director Ryan Keane.
Terms of the transaction were not disclosed.