REVA Announces Recapitalization in Partnership with Directional Aviation and Financing from Goldman Sachs
Fort Lauderdale, FL. – REVA, Inc., the premiere fixed-wing air ambulance company, recently increased its global strength and reach of its operations by completing a recapitalization effort in collaboration with three outstanding partners.
REVA’s newest partners include Directional Aviation, a world-class private aviation group, and Goldman Sachs Specialty Lending Group (“GSSLG”) as a lender. In addition, The Beekman Group, a New York private equity firm that initially invested in REVA in 2012, will remain an active investor in the company.
With over 350 employees and several bases strategically placed around the United States, REVA is one of the leading dedicated fixed-wing air-medical-transport services in the world. Transporting over 1,500 patients annually, REVA provides bedside to bedside service. Clients include private patients, Travel Insurers, Group Health Insurers, Health System Centers of Excellence and Travel Assistance groups. Medical Coordination and Logistical Support are provided through a state-of-the-art call center that operates 24 hours daily, 365 days per year.
“We are in an excellent position to achieve our near-term vision and develop the future of our industry,” said Stuart Hayman, REVA’s CEO. “We are the largest fixed-wing medical air service based in the Americas, and this recapitalization will enhance our ability to provide top-tier service to our clients across the globe.”
“We are thrilled to bring on a fantastic new partner in Directional Aviation and financing from GSSLG. I am excited to begin our new partnership with Directional Aviation. Directional embraces people, culture and world-class infrastructure. We are proud to be associated with the Directional Aviation family.”
“As a proven leader of Air Ambulance service, we are excited to have REVA join our portfolio of Aviation companies.” Says Kenn Ricci, Principal at Directional Aviation Capital. “We are happy to be able to help further support the Air Ambulance mission which uses aircraft to help those in need of the most urgent care. I have the utmost respect for the mission, the people and the service provided by the REVA Management Team and welcome them as an asset to our group,” said Mr. Ricci.
Cleveland-based Directional Aviation provides the kind of support that can come only from a firm that specializes in private aviation. Its global network and reach will enhance REVA’s operational stability and offer industry best practices. From fractional jet ownership to jet cards and charter, to open and closed fleets, jet remanufacturing, aviation parts distribution centers and more, Directional Aviation brings a specialized knowledge of the financial, operational and technical needs of the private aviation industry to REVA’s segment of the business.
”Stuart and the team have transformed REVA over the last six years, since our original investment from three planes to 20, and from two to four bases of operation and the development of a best-practice REVA Operations Center, aviation safety procedures and leading healthcare people and processes.” commented John G. Troiano, Managing Partner and CEO of Beekman, “We are excited to be part of the next phase of growth for REVA with a world class partner such as Directional Aviation and lender like Goldman Sachs.”
Official PDF: Air Ambulance – REVA – Press Release – REVA Recapitalization