Watson Farley & Williams has advised Ultimate Aviation Group (OHS UK) in a key transaction of acquiring Offshore Helicopter Services UK from CHC Helicopter Group. The transaction involved flexibility and collaborative problem solving to ensure that competition and regulatory requirements were satisfied. The sale completed on April 1, 2023.
The WFW team on the transaction was led by Partner Mark Tooke, Senior Associate Rohan Inamdar, Associate Jeremy Chiew and Trainee Jude Boateng. Partner Solange Leandro and Associate Lauren Buchan advised on competition law and regulatory matters, with aviation finance expertise provided by Senior Associate Liam Clozier.
Delighted at closing the transaction given the tight deadline, Tooke said: “This was a key transaction for Ultimate Aviation Group that required to ensure deal-related contractual obligations to customers and financing partners were observed. The deal highlights our ability to provide first-rate corporate and M&A advice and the depth and breadth of WFW’s market-leading Aviation practice”.
In August 2022, the UK’s Competition and Markets Authority required CHC to divest itself of OHS UK and an auction process began for them to do so. The CMA imposed a strict timetable for the divestment to be completed and the sale and purchase agreement was signed on 30 December 2022 under which CHC agreed to sell OHS UK to Ultimate Aviation Group subject to customary condition to completion. CHC retains its existing UK offshore oil and gas aviation business through CHC Scotia.