Rotorcraft Leasing Re-Structures

 - October 3, 2011, 12:45 AM

The largest privately held offshore oil and gas helicopter operator in the Gulf of Mexico announced a sweeping restructuring last month that includes refinancing, rebranding and the appointment of a new CEO. Rotorcraft Leasing will now be known as RLC. The company announced that it has secured a “strategic investment” of an undisclosed amount from Sankaty Advisors. “This funding milestone gives RLC the financial stability necessary to allow the company to excel at providing the service our customers have come to rely upon,” said Rodger Bagwell, RLC’s president. “Sankaty’s strategic, long-term approach to investing will be invaluable as we pursue our goals and work to realize our potential.”

Boston-based Sankaty describes itself as “one of the nation’s leading private managers of fixed income and credit instruments” and claims $18 billion under management.

Concurrently RLC announced the recent appointments of new key members of its executive team. Dru Milke joins as CEO. Milke is a 20-year veteran of Offshore Logistics, the parent company of Air Logistics (now Bristow), where he served as president. RLC also announced the promotions of Larry Adams to COO and Michael Guidry to vice president of operations. Adams most recently served as RLC director of operations and was previously president of ERAMed and vice president of flight services for Keystone Helicopter. Guidry is a 14-year veteran of RLC and has served as line pilot, chief pilot and director of training.

RLC currently employs 308, and its mixed fleet of 73 helicopters includes five Sikorsky S-76s, two Bell 412s, 10 Bell 407s, 12 Bell 206L4s, 13 Bell 206L3s and 31 Bell 206Bs. The company was formed in 1990 and flies 47,000 revenue hours annually. It is based in Broussard, La.