SAF Aerogroup, a European operator of mission-critical aerial services, has been acquired by Infracapital, the infrastructure equity investment arm of M&G Plc, and Vesper Next Generation Infrastructure Fund. A put option agreement has been signed, from funds managed by Oaktree Capital Management and Bpifrance.

The investment will enable SAF's growth ambitions to enhance its current core service offering of medical aerial emergency and firefighting services in France and further expand its current geographic reach across Europe, supporting public and private organisations. Infracapital will support SAF in addressing evolving healthcare needs driven by demographic changes and in mitigating the growing threat of extreme weather events due to climate change.

Founded in 1979 and headquartered in Albertville, SAF has a long dated and outstanding track record in providing a full range of highly specialised mission-critical aviation services for emergency medical transport, search and rescue operations, and firefighting with its fleet of 90 aircraft, 30 operating bases, 10 training bases and 550 employees of which 300 pilots performing over 25,000 missions per year.

Through its long-term contracts with public entities, SAF aerial emergency services complement and supplement medical teams by providing transport of patients, doctors and medical equipment in hard-to-reach areas and from accident scenes to centralised healthcare facilities.

As the largest private player active in the supply of aerial firefighting services in France, the company performs an increasingly important role in effectively monitoring, combatting and containing fire outbreaks in remote regions in France and other Mediterranean countries, such as Greece and Turkey where it also operates.

The acquisition will be made by Infracapital Partners IV and aligns with Infracapital's strategy to invest in essential infrastructure to meet the changing needs of society and support long-term economic growth across Europe.

The completion of the acquisition remains subject to the consultation of the relevant employee representative bodies of SAF and the approval from the customary regulatory bodies.

Herman Deetman, managing director at Infracapital, says: “We are pleased to partner with Vesper to acquire SAF, a business providing highly essential services through complex operations and with robust long-term fundamentals and growth potential. We are highly impressed with the company and its management team and look forward to supporting SAF to realise its strategic plans.”

Thibault Nicodeme and Jean-Louis Camus, SAF Aerogroup co-CEOs, comment: “We are excited to welcome Infracapital and Vesper Infrastructure Partners, two like-minded investors, who share the same vision of high quality provision of aerial emergency services, complementing and supplementing the missions of our customers. The long standing track record of our team, in safeguarding lives, protecting population and the environment, coupled with the industrial and financial expertise from our new investors and partners will open up new horizons for the continued successful development of SAF and a rewarding future for our employees.”