Leading Dorset company, Cobham plc, has completed the acquisition of the 50 per cent shareholding that it did not already own in FB Heliservices Ltd, FB Leasing Limited and FBS Limited.

Cobham has made the purchase from its long standing joint venture partner, Bristow Helicopters Limited.

The transaction comprises £74 million payable on completion, together with the assumption of Bristow’s share of FBH’s net debt. Cobham say the move strengthens the firm’s presence in sector.

It’s also complementary to Cobham’s existing Aviation Services business, enabling the group to build on existing capabilities and offer customers the convenience of a transport solution that includes a combination of helicopters and fixed wing aircraft. It also strengthens Cobham’s exposure to non US defence/security markets with the potential to expand its customer base in government related and other growth markets.

Cobham Chief Executive Officer, Bob Murphy said: “FBH is a business we know extremely well through our long established joint venture arrangement and it has capabilities that are highly complementary to our existing Aviation Services business.

“It also brings a long track record of operating in attractive, specialist outsourcing markets with demonstrable success in winning contracts across the globe.”

“We also offer our thanks to Bristow at the conclusion of this joint venture partnership, as FBH has successfully served to benefit all its stakeholders, including the UK Ministry of Defence and its other customers globally.”

FBH specialises in defence helicopter training in the UK and elsewhere, including a contract with the Ministry of Defence to train helicopter crews for all branches of the armed forces, as well as the provision of search and rescue, logistics and emergency medical services for government clients globally.