CHC Helicopter - History

History

Commercial helicopter flying began in British Columbia in the summer of 1947. Three ex-RCAF officers, pilots Carl Agar and Barney Bent, and engineer Alf Stringer, were operating a fixed-wing charter company, Okanagan Air Services Ltd., from Penticton. In July 1947 they raised enough money to purchase a Bell 47-B3 and pay for their flying and maintenance training.

Okanagan Air Services moved to Vancouver in 1949, renamed Okanagan Helicopters Ltd. By 1954, had become the largest commercial helicopter operator in the world.

In 1987, Newfoundland businessman Craig Dobbin headed a group of investors organized under the name Canadian Holding Company and using the acronym CHC. CHC purchased Okanagan Helicopters and Toronto Helicopters and merged them with Dobbin's own company, Sealand Helicopters, to form a company named Canadian Helicopters. The parent company was renamed CHC Helicopter Corporation. CHC acquired British International Helicopters in 1994; Helicopter Services Group of Norway in 1999 (including Bond Helicopters), Helikopter Service AS, Lloyd Helicopters of Australia and Court Helicopters of South Africa. In 2004, CHC purchased Schreiner Aviation Group who provided offshore helicopter services company in the Dutch sector of the North Sea and in the Nigerian offshore industry.

In 2000, CHC entered into an agreement with Fonds de Solidarité FTQ (FSTQ) and the management of its two Canadian divisions, Canadian Helicopters Eastern and Canadian Helicopters Western, for the sale of an interest in CHC's Canadian assets in a management buyout to form Canadian Helicopters. As a result senior management and FSTQ acquired 10% and 45% equity interests in Canadian Helicopters, respectively, while CHC retained a 45% equity interest.

CHC restructuring in 2004 saw the creation of a new corporate headquarters in Richmond, British Columbia and the creation of three main operating segments:

• CHC Global Operations, based in Richmond, B.C.,
• CHC European Operations, based in Aberdeen, Scotland, and
• Heli-One, CHC's leasing and repair and overhaul support group, now based in Delta, B.C.

CHC was purchased by First Reserve, a US private equity company in February 2008 for CAD$3.7 billion ($3.5 billion). At the time, the word "Corporation" was dropped from the company's name, which is now simply CHC Helicopter.