PHI Group, which provides helicopter transportation services to the oil and air medical industries, withdrew its plans for an initial public offering on Friday. It originally filed in October 2023 with an estimated deal size of $100 million. Its last SEC update was in March 2024.
Primary shareholders include Q Investments, Oaktree Capital Management, and First Pacific Advisors.
The Lafayette, LA-based company was founded in 1949 and booked $881 million in sales for the 12 months ended December 31, 2023. It had planned to list on the NYSE under the symbol ROTR. Barclays, Goldman Sachs, Evercore ISI, Piper Sandler, Raymond James, and BMO Capital Markets were set to be the joint bookrunners on the deal.
