Text Patriot Aerospace has announced the acquisition of Cardiff-based commercial helicopter charter specialist Veritair Aviation.
Online PR News – 22-April-2012 – Cardif – Text Patriot Aerospace has announced the acquisition of Cardiff-based commercial helicopter charter specialist Veritair Aviation.
The deal, which underlines Patriot's determination to form a credible UK alternative to the foreign owned companies currently dominating the commercial helicopter sector, sees Sir Peter Rigby's aviation group acquire a significant majority share in the Cardiff Heliport operator. Enabling Patriot’s expansion to incorporate police contracts, large scale commercial contracts and the expanding Air Ambulance market, Veritair's acquisition represents a key landmark in its strategy of enhancing private flying and charter activities with established expertise in the more stable commercial sector.
"We are delighted to announce the completion of a deal which not only incorporates another profitable and successful company, but means that Patriot Aerospace takes responsibility for Cardiff City Heliport, one of the best purpose-built facilities in Europe. To move forward sustainably, our helicopter operations must move away from solely private charter, private pilot training and light helicopter engineering to more stable and lucrative work in the commercial field, and this announcement marks a significant step in that direction," said Patriot Finance Director Paul Southall.
Veritair founder and Managing Director, Captain Julian Verity, who remains with the company, sees increased opportunities to expand commercial and utility services under the Patriot Aerospace banner:
“Becoming the specialist commercial helicopter division of Patriot Aerospace gives Veritair considerably more muscle to flex when competing for the expanding business opportunities coming our way. Whilst our Welsh roots are exceedingly important, we need the economies of scale that only came with being part of a bigger UK operation. This move gives Veritair that chance to expand and I am very pleased to be part of a good news story from a welsh company punching above its weight.”
Southall added: "Veritair brings a solid and respected track record in commercial operations, which gives us a great start in creating a credible British competitor for oil and gas contracts and also established operations with the Police and Air Ambulance services. We look forward to working with the latest additions to the Patriot team as we consolidate and expand the group's commercial operations across the UK."