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Los Angeles, CA – May 1, 2007 – Bison
Capital Equity Partners I, LP announced that Helinet Aviation
Services, Inc. has recapitalized a majority of Bison Capital’s
investment in the company, with Bison remaining as a minority
equity holder post-recapitalization. Helinet Aviation
Services, LLC, is a diversified provider of helicopter flight
services to the news media, medical transport, entertainment
production and corporate travel industries.
In April 2007 Helinet announced the sale of
its majority owned subsidiary, Cineflex, LLC to Axsys Technologies,
Inc. Cineflex is a technology leader in the design
and manufacture of highly stable, multi-sensor, multi-axis
surveillance platforms serving customers in federal and local
government, and in the motion picture and electronic news
gathering industries. The initial purchase price was
$27 million in cash, with possible additional cash consideration
to be paid upon the attainment of certain revenue targets
fixed largely over the next 36 months.
Bison Capital makes growth equity investments
in middle-market companies, public or private, for expansion,
acquisitions or balance sheet restructuring. The firm’s
primary investment focus is partnering with entrepreneurs
and management teams seeking capital to grow their businesses.
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