New Controlling Interest Buoys MD Helicopters
MD Helicopters completed a restructuring last month in which Patriarch Partners, a New York financial firm, acquired a controlling interest in the Mesa, Ariz. helicopter manufacturer. RDM, a Netherlands-based group that purchased the company from Boeing in 1999, retains a minority interest. MD Helicopters officials said the restructuring ensures that the company “will have adequate working capital to continue production of existing product lines, aggressively improve customer support and fulfill existing orders.” The immediate goal, officials said, is to “restore customer confidence in the company and in its ability to support its products.” Officials intended to meet with customers and suppliers as soon as possible “to restore their confidence in our long-term viability and the solid working relationships we once enjoyed.” MD Helicopters manufactures the MD 500, 520N, 600N and Explorer series of light helicopters. The products distinguish themselves by being equipped with the Notar anti-torque system.