A Kelowna aircraft company has been sold.
Winnipeg-based Exchange Income Corp., which owns several aviation companies, announced recently it has bought Kelowna-based Carson Air for cash and shares totalling $61 million.
Carson Air, established in 1990, provides fixed-wing air ambulance services from Kelowna and Vancouver with eight aircraft. The company also operates cargo services in B.C. and Alberta, and runs a flight school, the Southern Interior Flight Centre.
According to its website, Carson Air employs more than 100 people with operations in Kelowna, Vancouver, Calgary and Abbotsford.
“The acquisition of Carson Air further solidifies EIC as Canada’s pre-eminent provider of medevac services,” said Mike Pyle, CEO of EIC in a news release. “This acquisition expands the geographic footprint of our medevac services into B.C. We are proud to offer these services to remote and Indigenous communities from coast to coast to coast.”
Kevin Carson founder and majority owner of Carson, said the new owners were the right match for his company.
“We are very familiar with EIC’s medevac operations, particularly within western Canada and Nunavut” he said. “EIC has a proven reputation within the Canadian medevac industry, and I am convinced this will be a great fit for Carson Air both operationally and culturally.”
Minority owner Wynnchurch Capital also sold out. The Illinois firm invested in Carson in 2005.
“We could not be more proud of the company’s progression and its current position as a world-class provider of critical flight services,” said managing partner Frank Hayes in a news release.
EIC also announced it was buying three other companies.