Northway Aviation (NAL, Winnipeg St. Andrews), through its parent Westcap Mgt. Ltd., has acquired Skynorth Air (Winnipeg International), a dedicated air ambulance provider operating out of Winnipeg International, Thompson, and Island Lake.
Westcap is a private equity and venture capital fund manager, and the acquisition was completed through a syndicate of its managed funds including Westcap MBO III Investment LP and Connect Manitoba Growth Fund LP, it said in a statement on January 21.
It did not say whether the Skynorth Air brand would continue to operate independently or merge under Northway Aviation. ch-aviation reached out for clarification on this.
Last year, Westcap Mgt. Ltd became the majority shareholder of Northway Aviation.
“The combination of two great companies with strong management teams that will stay actively involved and invested alongside us to provide essential services to the residents of Manitoba while creating operating efficiencies in our joint facilities, staff, and a combined fleet of 17 aircraft makes for an exciting growth opportunity and future,” proclaimed Grant J Kook, president and chief executive of Westcap.
According to the Canadian civil aircraft registry, Skynorth operates a fleet of nine aircraft including two Beech Aircraft Corporation B200s, four Beech 200s, one Beech E90 (inactive since August 2024), and two Mitsubishi Aircraft International MU-2B-60s. Northway Aviation operates nine aircraft, namely two Cessna Aircraft Company 208s, four Cessna 208Bs, and three PC-12s.
