Exchange Income Corporation Completes Acquisition of Custom Helicopters Ltd.
Feb 01, 2012, 12:19 ET
WINNIPEG, Feb. 1, 2012 /CNW/ - Exchange Income Corporation (TSX:EIF) (the "Corporation"), announced today the successful completion of its acquisition of Custom Helicopters Ltd., a provider of helicopter-based aviation services in Manitoba and Nunavut. The acquisition was first announced on January 12, 2012.
The Corporation paid a total purchase price of $29 million, of which $4.3 million was paid through the issuance of 170,121 common shares and the balance, $24.7 million, was paid in cash.
About Exchange Income Corporation
Exchange Income Corporation is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors which are ideally suited for public markets except for their size. The strategy of the Corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets in Canada and/or the United States.
The Corporation is currently operating in two niche business segments: aviation and specialty manufacturing. The aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International and Bearskin Lake Air Service and the specialty manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, Stainless Fabrication and WesTower Communications. For more information on Exchange Income Corporation, please visit www.exchangeincomecorp.ca.
Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).
For further information:
|Mike Pyle||Joe Racanelli|
|President and CEO||Investor Relations|
|Exchange Income Corporation||The Equicom Group Inc.|
|(204) 982-1850||Phone: (416) 815-0700 Ext. 243|
|[email protected]||[email protected]|
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