KUALA LUMPUR, March 4 — The Weststar Group is now the sole shareholder of Weststar Aviation Services Sdn Bhd following its acquisition of Weststar Aviation’s remaining 21 per cent stake from global investment firm KKR.
“This is a milestone moment for all of us at Weststar.
“We are grateful for KKR’s support over the years, during which Weststar Aviation expanded internationally serving blue-chip energy clients and enhanced our capabilities,” said Weststar Aviation’s chairman and founder Tan Sri Syed Azman Ibrahim in a statement here.
The management of KKR also congratulated the acquisitions and hoped Weststar Aviation will continue to be the leading provider of offshore helicopter transportation services.
“We take pride in our relationship with Weststar Aviation and Azman Ibrahim, and our role in the evolution of the company, which is today very well-positioned for the future.
“On behalf of KKR, we wish the Weststar team continued success,” said KKR’s co-executive chairman Henry Kravis.
With a helicopter fleet of 34, Weststar Aviation is the largest helicopter operator in Malaysia and South-east Asia by fleet size and has maintained a 14-year accident-free track record since 2009.
Its main operations include serving some of the major oil and gas industry players with helicopter fleet to transport personnel to offshore production platforms and drilling rigs.
Weststar Group is a highly diversified enterprise with businesses in the aviation, automobile, property and insurance sectors.