Flying High: Bridger Aerospace’s Soaring Investments in Cutting-Edge Research and Development
In the ever-evolving landscape of aerial firefighting and disaster response, Bridger Aerospace Group Holdings, Inc. has emerged as a key player, making headlines with its strategic investments that support their firefighting regimes. Recently, the company has announced that it has entered into a joint venture partnership to complete the purchase of four Canadair CL-215T Amphibious Aircraft recently awarded in a public tender process from the Government of Spain for €40.3 million.
The company has grown from operating a single plane to commanding a significant Air Attack and the largest Super Scooper fleet in the U.S. in less than eight years.
“Bridger’s mission is to support communities affected by wildfires wherever they occur. There is global demand for specialty aircraft like the CL-215T, and with the addition of these airframes we are positioned to operate the largest privately owned scooper fleet in the world. Our access to these aircraft represents a strategic and transformative step for Bridger and positions us to expand our customer base and create substantial revenue and cash flow growth for the next several years,” commented Tim Sheehy, Bridger’s Chief Executive Officer.
Bridger Aerospace’s investments extend beyond firefighting, encompassing disaster response and recovery as well. The company is exploring ways to leverage aerial technologies in the aftermath of natural disasters, facilitating rapid assessment and response to minimize human suffering and property damage.
The partnership will allow Bridger access to Scoopers for use in contract operations as soon as the summer of 2024. Bridger will manage the return to service upgrades of the planes while they are owned and funded by the partnership.
McAndrew Rudisill, Bridger’s Chief Investment Officer, commented, “We are excited to partner with Marathon and Avenue to co-invest in the transformative Spanish Scooper acquisition and appreciate their exhaustive efforts to close this transaction. This private capital solution eliminates the immediate need for any large near-term equity financing and helps strategically position Bridger to further diversify internationally, create exposure to the European fire season, and creates a multi-year growth trajectory for the company.”
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