IMAP is pleased to announce that Invest Corporate Finance (IMAP Portugal) has acted as exclusive financial advisor to RiverRock on its acquisition of a large minority stake in Eliance, a Spanish leading provider of aerial emergency services.
RiverRock European Capital Partners LLP is an alternative asset management firm. Launched in 2018, RiverRock Brownfield Infrastructure Fund 1 specializes in the investment and management of equity participations in small and medium-sized operational government-related infrastructure projects located in the Euro area.
Eliance is a leading provider of helicopter and fixed-wing emergency services in high social value areas such as firefighting, medical emergencies, search and rescue and engineering and maintenance. With approximately 409 employees, it owns and operates a fleet of 72 aircraft dedicated to the provision of critical public mission services under availability-type contracts with around 30 public authorities in Spain. The transaction also included Eliance’s subsidiaries in Italy and Chile, Elifriulia and Habock Aviation Chile, respectively. In 2020, Eliance generated approximately €50 million in revenues.
This operation enables RiverRock to diversify its portfolio by investing in a growing and solid cash-flow generating business with a strong social component.