Lincoln International Renders a Fairness Opinion to the Board of Managers of EAC Holdings, LLC as the sole stockholder of Erickson Air-Crane in the sale to Stonehouse Capital Partners
CHICAGO, Illinois November 1, 2007 - Lincoln International, a leading global mid-market investment bank, today announced that it has rendered a fairness opinion to the Board of Managers of EAC Holdings, LLC (EAC Holdings), the sole stockholder of Erickson Air-Crane ("Erickson" or the "Company"), in connection with its acquisition by Stonehouse Capital Partners, a New York City-based private investment firm.
Headquartered in Central Point, Oregon, Erickson is one of the world's leading providers of helicopter aerial transportation services. Erickson manufactures and operates transport category S-64 Aircrane helicopters that are capable of lifting up to 25,000 pounds and are used in firefighting, heavy construction, logging and oil and gas support applications. Erickson's customers include fire departments and forest managers in the U.S. and in Greece, Italy and South Korea.
As part of the process, the Lincoln International transaction team worked closely with EAC Holdings, Erickson, its board of managers and shareholders, performing an in-depth analysis and valuation of the Company and provided a fairness opinion in connection with the transaction.
"The fairness opinion rendered to the Board of Managers of EAC Holdings typifies the growing need for independent financial advisors. JP Morgan was the investment banker representing the Company in the sale process, yet the Board wanted an independent financial advisor to render a fairness opinion on the transaction," said Federico Mennella, Managing Director of Lincoln International and head of the Firm's New York office, who led the Lincoln team which provided the fairness opinion.
"We believe that this transaction is representative of Lincoln Internationals growing board advisory, fairness opinion and valuation capabilities," said Patricia Luscombe, Managing Director of Lincoln International, and one of the leaders in their fairness opinion and valuation practice.
About Erickson Air-Crane
Erickson Air-Crane manufactures and operates transport category S-64 Aircrane helicopters. Erickson provides Erickson S-64 Aircrane Helitanker for use in firefighting services in the United States, Canada, Mexico, Borneo, Italy, Greece, France, Turkey, and Australia; and logging services in the Pacific Northwestern United States, Canada, and Malaysia. The company was founded in 1971 and is based in Central Point, Oregon.
About Stonehouse Capital Partners
Stonehouse Capital Partners ("Stonehouse") is a New York City based private equity investment firm. Stonehouse was formed in 2006 to pursue structured equity and debt investment in middle market companies undergoing operating and capital structure transitions. The principals of Stonehouse have significant experience investing in middle market manufacturing and service businesses, including trucking, transportation and logistics companies. The firm seeks to invest in companies with durable market positions, enabling capital appreciation over a long term holding period.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, Los Angeles, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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