UNQUOTE

UK - Matrix backs £20m helicopter MBO

  • Helga Schmitt
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Matrix Private Equity Partners has backed the ТЃ20m secondary mangement buyout of British International Limited (BIL). Jonathan Gregory of Matrix led a syndicate comprising Finance Cornwall and Chrysalis VCT that has invested ТЃ5m of equity in the helicopter company. Senior debt and asset finance were provided by Bank of Scotland Corporate.

BIL was formed in 2000 and is one of the UK’s leading suppliers of helicopter services, operating the UK’s only scheduled service by helicopter, with flights between Penzance, Cornwall and the Scilly Isles. It operates the UK’s only scheduled service by helicopter and carries 130,000 passengers a year with up to 26 flights a day during peak season.
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