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In 1992 Erickson Air-Crane purchased the [[type certification]] and manufacturing rights for the [[S-64]] from [[Sikorsky Aircraft]]<ref>{{cite web|title=Erickson Incorporated History|url=https://ericksoninc.com/about/history/|work=Erickson Incorporated History|publisher=Erickson|accessdate=27 October 2019}}</ref>. Since that time, Erickson Air-Crane has become the manufacturer and world's largest operator of [[S-64]] Aircranes and has made over 1,350 improvements to the air-frame, instrumentation, and payload capabilities of the helicopter.
In 1992 Erickson Air-Crane purchased the [[type certification]] and manufacturing rights for the [[S-64]] from [[Sikorsky Aircraft]]<ref>{{cite web|title=Erickson Incorporated History|url=https://ericksoninc.com/about/history/|work=Erickson Incorporated History|publisher=Erickson|accessdate=27 October 2019}}</ref>. Since that time, Erickson Air-Crane has become the manufacturer and world's largest operator of [[S-64]] Aircranes and has made over 1,350 improvements to the air-frame, instrumentation, and payload capabilities of the helicopter.


In 2007, Erickson was sold to ZM Private Equity Fund, who in 2009 moved the company's headquarters to Portland.<ref name="ipo complete"/> Then a privately held company, Erickson announced plans to go public in 2010,<ref>{{cite news|last=Siemers|first=Erik|title=Erickson Air-Crane sets IPO price range of $13 to $15|url=http://www.bizjournals.com/portland/news/2012/01/30/erickson-air-crane-sets-ipo-price.html |accessdate=4 February 2012|newspaper=Portland Business Journal|date=January 30, 2012}}</ref><ref>{{cite news|last=Siemers|first=Erik|title=Report: Erickson Air-Crane IPO delayed|url=http://www.bizjournals.com/portland/news/2012/02/03/report-erickson-air-crane-ipo-delayed.html |accessdate=4 February 2012|newspaper=Portland Business Journal|date=February 3, 2012}}</ref> which was delayed into 2012.<ref>{{cite news|last=Siemers|first=Erik|title=Erickson Air-Crane, for second time, issues IPO price range|url=http://www.bizjournals.com/portland/news/2012/03/21/erickson-air-crane-for-second-time.html |accessdate=March 21, 2012|newspaper=Portland Business Journal|date=March 21, 2012}}</ref> On April 11, 2012, the company completed an [[initial public offering]] and began trading on the NASDAQ market, with ZM Private Equity Fund retaining ownership of 63% of the company.<ref name="ipo complete"/><ref>{{cite news|last=Siemers|first=Erik|title=IPO drought ends, Oregon yawns|url=http://www.bizjournals.com/portland/blog/2012/04/the-anti-climactic-end-to-oregons.html |accessdate=April 11, 2012|newspaper=Portland Business Journal|date=April 11, 2012}}</ref> The company acquired [[Evergreen International Aviation]]'s helicopter unit for $250 million in March 2013.<ref>{{cite news|title=Erickson Air-Crane Announces Definitive Purchase Agreement for Air Amazonia Aerial Services Business|url=http://investors.ericksoninc.com/phoenix.zhtml?c=237068&p=irol-newsArticle&ID=1839484|accessdate=Feb 21, 2016|date=July 22, 2013}}{{Dead link|date=August 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> Erickson then bought Brazil-based HRT Participações em Petroleo's oil and gas unit, with the deal expected to be finalized in 2013.<ref>{{cite news|last=Stevens|first=Suzanne|title=Erickson Air-Crane to acquire oil and gas assets of HRT|url=http://www.bizjournals.com/portland/morning_call/2012/11/erickson-air-crane-to-acquire-brazilian.html |accessdate=8 March 2013|newspaper=Portland Business Journal|date=November 7, 2012}}</ref><ref>{{cite news|last=Stevens|first=Suzanne|title=Erickson Air to pay up to $75M for HRT aerial services unit|url=http://www.bizjournals.com/portland/news/2013/03/07/erikson-air-crane-to-pay-up-to-75m.html |accessdate=8 March 2013|newspaper=Portland Business Journal|date=March 7, 2013}}</ref>
In 2007, Erickson was sold to ZM Private Equity Fund, who in 2009 moved the company's headquarters to Portland.<ref name="ipo complete"/> Then a privately held company, Erickson announced plans to go public in 2010,<ref>{{cite news|last=Siemers|first=Erik|title=Erickson Air-Crane sets IPO price range of $13 to $15|url=http://www.bizjournals.com/portland/news/2012/01/30/erickson-air-crane-sets-ipo-price.html |accessdate=4 February 2012|newspaper=Portland Business Journal|date=January 30, 2012}}</ref> <ref>{{cite news|last=Siemers|first=Erik|title=Report: Erickson Air-Crane IPO delayed|url=http://www.bizjournals.com/portland/news/2012/02/03/report-erickson-air-crane-ipo-delayed.html |accessdate=4 February 2012|newspaper=Portland Business Journal|date=February 3, 2012}}</ref> which was delayed into 2012.<ref>{{cite news|last=Siemers|first=Erik|title=Erickson Air-Crane, for second time, issues IPO price range|url=http://www.bizjournals.com/portland/news/2012/03/21/erickson-air-crane-for-second-time.html |accessdate=March 21, 2012|newspaper=Portland Business Journal|date=March 21, 2012}}</ref> On April 11, 2012, the company completed an [[initial public offering]] and began trading on the NASDAQ market, with ZM Private Equity Fund retaining ownership of 63% of the company.<ref name="ipo complete"/><ref>{{cite news|last=Siemers|first=Erik|title=IPO drought ends, Oregon yawns|url=http://www.bizjournals.com/portland/blog/2012/04/the-anti-climactic-end-to-oregons.html |accessdate=April 11, 2012|newspaper=Portland Business Journal|date=April 11, 2012}}</ref> The company acquired [[Evergreen International Aviation]]'s helicopter unit for $250 million in March 2013.<ref>{{cite news|title=Erickson Air-Crane Announces Definitive Purchase Agreement for Air Amazonia Aerial Services Business|url=http://investors.ericksoninc.com/phoenix.zhtml?c=237068&p=irol-newsArticle&ID=1839484|accessdate=Feb 21, 2016|date=July 22, 2013}}{{Dead link|date=August 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> Erickson then bought Brazil-based HRT Participações em Petroleo's oil and gas unit, with the deal expected to be finalized in 2013.<ref>{{cite news|last=Stevens|first=Suzanne|title=Erickson Air-Crane to acquire oil and gas assets of HRT|url=http://www.bizjournals.com/portland/morning_call/2012/11/erickson-air-crane-to-acquire-brazilian.html |accessdate=8 March 2013|newspaper=Portland Business Journal|date=November 7, 2012}}</ref><ref>{{cite news|last=Stevens|first=Suzanne|title=Erickson Air to pay up to $75M for HRT aerial services unit|url=http://www.bizjournals.com/portland/news/2013/03/07/erikson-air-crane-to-pay-up-to-75m.html |accessdate=8 March 2013|newspaper=Portland Business Journal|date=March 7, 2013}}</ref>


The name of the company was changed to Erickson Inc. in February 2014<ref>{{cite news|last=Kish|first=Matthew|title=A new name for Erickson Air-Crane Inc.|url=http://www.bizjournals.com/portland/blog/2014/02/a-new-name-for-erickson-air-crane-inc.html |accessdate=27 February 2014|newspaper=Portland Business Journal|date=February 26, 2014}}</ref>. The following year the company reorganized into three business units: Commercial Aviation Services, Government Aviation Services, and Manufacturing and MRO<ref>{{cite web|title=Erickson Incorporated History|url=https://ericksoninc.com/about/history/|work=Erickson Incorporated History|publisher=Erickson|accessdate=27 October 2019}}</ref>.
The name of the company was changed to Erickson Inc. in February 2014<ref>{{cite news|last=Kish|first=Matthew|title=A new name for Erickson Air-Crane Inc.|url=http://www.bizjournals.com/portland/blog/2014/02/a-new-name-for-erickson-air-crane-inc.html |accessdate=27 February 2014|newspaper=Portland Business Journal|date=February 26, 2014}}</ref>. The following year the company reorganized into three business units: Commercial Aviation Services, Government Aviation Services, and Manufacturing and MRO<ref>{{cite web|title=Erickson Incorporated History|url=https://ericksoninc.com/about/history/|work=Erickson Incorporated History|publisher=Erickson|accessdate=27 October 2019}}</ref>.

Revision as of 23:06, 28 October 2019

Erickson Incorporated
Erickson
Company typePrivate
IndustryAviation
FoundedCentral Point, Oregon, United States (1971 (1971))
FounderJack Erickson
Headquarters
Portland, Oregon
,
United States of America
Number of locations
8 facilities (2014)
Key people
Doug Kitani, CEO and Director
ProductsHelicopter manufacturer and operator
RevenueDecrease US$ 297.5 million (2015)
Decrease US$ -86.7 million (2015)
Websitewww.ericksoninc.com

Erickson Incorporated is an American aerospace manufacturing and aviation service provider based in Portland, Oregon, United States.[1] Founded in 1971, it is known for producing and operating the S-64 Air Crane helicopter, which is used in aerial firefighting and other heavy-lift operations. Erickson Incorporated operates globally and has a fleet of 69 rotary-wing and fixed-wing aircrafts including 20 Air Crane helicopters[2]. The company was known as Erickson Air-Crane Incorporated until 2014. Erickson's main facility is located in the Southern Oregon community of Central Point.

History

In 1969 Jack Erickson leased an S-61 helicopter from Wes Lematta of Columbia Helicopters to test the effectiveness of using helicopters for logging[3]. Following this test Erickson realized he would need a needed a larger helicopter. He purchased three S-64 helicopters from Sikorsky Aircraftand founded Erickson Air-Crane in December of 1971[4]. He quickly expanded the business to include power line construction and firefighting. In 1973 Erickson begins using Air Cranes to replace HVAC units on top of high-rises[5]. The following year Erickson invents the anti-rotation devise which stabilizes loads and provided for great performance and agility. This new technology allows the company to begin building power line towers[6].

In 1992 Erickson Air-Crane purchased the type certification and manufacturing rights for the S-64 from Sikorsky Aircraft[7]. Since that time, Erickson Air-Crane has become the manufacturer and world's largest operator of S-64 Aircranes and has made over 1,350 improvements to the air-frame, instrumentation, and payload capabilities of the helicopter.

In 2007, Erickson was sold to ZM Private Equity Fund, who in 2009 moved the company's headquarters to Portland.[8] Then a privately held company, Erickson announced plans to go public in 2010,[9] [10] which was delayed into 2012.[11] On April 11, 2012, the company completed an initial public offering and began trading on the NASDAQ market, with ZM Private Equity Fund retaining ownership of 63% of the company.[8][12] The company acquired Evergreen International Aviation's helicopter unit for $250 million in March 2013.[13] Erickson then bought Brazil-based HRT Participações em Petroleo's oil and gas unit, with the deal expected to be finalized in 2013.[14][15]

The name of the company was changed to Erickson Inc. in February 2014[16]. The following year the company reorganized into three business units: Commercial Aviation Services, Government Aviation Services, and Manufacturing and MRO[17].

Erickson appointed government services veteran Doug Kitani as CEO and Director August 31, 2017. He was previously CEO and director of government services firm IAP Worldwide Services. He has also worked in private investment and general management for Honeywell and General Electric.[18][19][20]

The Evergreen purchase was financed partly with debt, and (together with challenging business conditions) caused Erickson to file for Chapter 11 bankruptcy in November 2016 to reorganize while keeping the business running.[21] During bankruptcy the company returned to private ownership and emerged from bankruptcy protection in May 2017.[22]

Heliport

The company owns Erickson Air-Crane Admin Offices Heliport (FAA LID: OG58), a private, 130 x 130 ft. (40 x 40 m) heliport.

  • S-64E Erickson Air-Crane photographed at Ioannina airport, Greece
    S-64E Erickson Air-Crane photographed at Ioannina airport, Greece
  • Erickson Aircrane used for firefighting operations primarily in Western Australia
    Erickson Aircrane used for firefighting operations primarily in Western Australia

See also

References

  1. ^ "Erickson Incorporated". Erickson Incorporated. Erickson. Retrieved 27 October 2019.
  2. ^ "Erickson About". Erickson About. Erickson. Retrieved 28 October 2019.
  3. ^ Gill, Holly (August 24, 2018). "Jack Erickson builds extraordinary life around two passions: aircraft and logging". The Madras Pioneer. Retrieved 28 October 2019.
  4. ^ "Erickson Incorporated History". Erickson Incorporated History. Erickson. Retrieved 27 October 2019.
  5. ^ "Erickson Incorporated History". Erickson Incorporated History. Erickson. Retrieved 27 October 2019.
  6. ^ "Erickson Incorporated History". Erickson Incorporated History. Erickson. Retrieved 27 October 2019.
  7. ^ "Erickson Incorporated History". Erickson Incorporated History. Erickson. Retrieved 27 October 2019.
  8. ^ a b Cite error: The named reference ipo complete was invoked but never defined (see the help page).
  9. ^ Siemers, Erik (January 30, 2012). "Erickson Air-Crane sets IPO price range of $13 to $15". Portland Business Journal. Retrieved 4 February 2012.
  10. ^ Siemers, Erik (February 3, 2012). "Report: Erickson Air-Crane IPO delayed". Portland Business Journal. Retrieved 4 February 2012.
  11. ^ Siemers, Erik (March 21, 2012). "Erickson Air-Crane, for second time, issues IPO price range". Portland Business Journal. Retrieved March 21, 2012.
  12. ^ Siemers, Erik (April 11, 2012). "IPO drought ends, Oregon yawns". Portland Business Journal. Retrieved April 11, 2012.
  13. ^ "Erickson Air-Crane Announces Definitive Purchase Agreement for Air Amazonia Aerial Services Business". July 22, 2013. Retrieved Feb 21, 2016.[permanent dead link]
  14. ^ Stevens, Suzanne (November 7, 2012). "Erickson Air-Crane to acquire oil and gas assets of HRT". Portland Business Journal. Retrieved 8 March 2013.
  15. ^ Stevens, Suzanne (March 7, 2013). "Erickson Air to pay up to $75M for HRT aerial services unit". Portland Business Journal. Retrieved 8 March 2013.
  16. ^ Kish, Matthew (February 26, 2014). "A new name for Erickson Air-Crane Inc". Portland Business Journal. Retrieved 27 February 2014.
  17. ^ "Erickson Incorporated History". Erickson Incorporated History. Erickson. Retrieved 27 October 2019.
  18. ^ "Erickson Appoints New Chief Executive Officer". August 31, 2017.
  19. ^ Lynch, Kerry (September 5, 2017). "Erickson Hires Former IAP Chief as New CEO". Aviation International News.
  20. ^ Nicholas, Scott (September 1, 2017). "IAP, DynCorp Vet Doug Kitani Joins Erickson as CEO - GovCon Wire". GovCon Wire. Retrieved 2017-10-02.
  21. ^ "Erickson Incorporated files Chapter 11". November 9, 2016. Retrieved November 10, 2016.
  22. ^ Manning, Jeff (May 16, 2017). "Leaner, privately held Erickson emerges from bankruptcy". OregonLive.com. Retrieved 16 May 2017.
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