Portland’s Erickson Air-Crane bought McMinnville’s Evergreen International Aviation’s helicopter company for $250 million.
Portland’s Erickson Air-Crane bought McMinnville’s Evergreen International Aviation’s helicopter company for $250 million.
Former employees said Evergreen, which has been buffeted by complaints, lawsuits, a state investigation of its affiliated non-profit and cash flow difficulties, has been working to sell the helicopter business for some time. Some they still haven’t been paid what they were owed and have filed complaints with Oregon Bureau of Labor and Industries. They said they hoped the sale means they will get the money they are owed.
Erickson’s announcement said Evergreen Helicopters had unaudited revenues of $196 million last year, and it said the company had adjusted earnings before interest, taxes, depreciation and amortization of $56.2 million. Erickson said the deal is for 64 aircraft, including some fixed-wing aircraft.
Read more at OregonLive.com.
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