Monday, May 31, 2010

Carlyle Group Signs Deal for Australia's Contract Aviation

Life on the U.S. government teat has been so profitable, The Carlyle Group will suckle Down Under. Carlyle inked a $350 million deal for Australia's Contract Aviation, a merger of Alliance Airlines and Airwork Helicopters. The Australian reported:

The companies provide helicopter and aviation services to the government, military and resources sectors.

Contract Aviation was planning an IPO valued at $300 million. Investors pocketed $50 million more in the Carlyle deal.

Given heightened private equity underwriter (PEU) interest in Australian companies, tax tea leaves must read green.