DLA Piper represented Erickson Air-Crane Inc., a helicopter operator and manufacturer, in a stock purchase agreement for Evergreen Helicopters, Inc. from Evergreen International Aviation Inc.

Under the terms of the agreement, Erickson Air-Crane acquired Evergreen Helicopters for US$250 million, consisting of US$185 million in cash, US$17.5 million in unsecured promissory notes issued by Erickson Air-Crane, and approximately four million mandatorily convertible preferred shares of Erickson Air-Crane valued at US$47.5 million. In addition, DLA Piper represented Erickson Air-Crane in connection with the financing for this transaction, which involved US$400 million of senior secured notes issued to institutional investors and a US$100 million revolving line of credit from a syndicate of banks.

The transaction, which closed on May 2, 2013, includes the acquisition by Erickson Air-Crane of an incremental fleet of approximately 65 aircrafts, consisting of both helicopters and fixed-wing airplanes for a wide range of passenger transport and light, medium and heavy load-carrying missions. This diverse fleet serves a wide range of customers, including significant and critical programs for the US military in support of overseas operations and expands Erickson Air-Crane operations into new business lines and geographically.

The DLA Piper team representing Erickson Air-Crane was led by Michael Reed and included Rusty Conner, Eric Geppert, Richard Marks, Eric Eisenberg and Beth McAuley in Washington, DC; Paolo Morante, Sidney Burke, Lucien White and Ryan Moreno in New York; Jennifer Dinsmore and Joe Langhirt in Baltimore; and Michael Hutchings, Andrew Ledbetter, Rachel Perkins and Laura Klein in Seattle.

http://www.dlapiper.com/erickson-air-crane-release/