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Skydive The Beach reaches new heights in Far North Queensland

October 12, 2017 Tour Operator No Comments Email Email

Skydive the Beach Group Limited (ASX:SKB, Skydive), Australia and New Zealand’s leading adventure and leisure tourism company, is adding yet another notch to its belt, acquiring Cairns-based Great Barrier Reef Helicopters (GBR Helicopters) for $20 million. 

GBR Helicopters, a local company established more than 20 years ago, is the largest helicopter operator in Far North Queensland. It offers a range of scenic flights to the Great Barrier Reef, the Daintree Rainforest, and other surrounding areas departing from Cairns and Port Douglas.

With a strong market position, reputation and brand, GBR Helicopters boasts a fleet of 22 helicopters, long-term airfield, heli-pad and hangar leases, and premium heli-pad and office locations.

The deal will see Skydive make its fourth non-skydiving company acquisition over a 12-month period. It comes after the takeover of another Far North Queensland company last October, Raging Thunder Adventures, and more recently, Reef Magic Cruises and Byron Bay Ballooning in May and August this year respectively.

The GBR Helicopters deal is set to be finalised on 1 November 2017.

Skydive CEO Anthony Ritter said the acquisition brought the company closer to its vision of becoming the world’s largest and most respected adventure tourism company.

“This acquisition not only strengthens Skydive’s position in the Far North Queensland adventure tourism and experience market, but also for the national and global markets.

“Helicopter flights over the Great Barrier Reef and Daintree Rainforest are world-class experiences, and we are incredibly fortunate to add such a wonderful and exciting product offering to our portfolio of highly recognisable and respected company brands,” he said.

As a result of this acquisition, Skydive have amended its FY18 forecasted revenue to circa $124m – $129m and underlying EBITDA of $31m – $33m.

Skydive operates 18 tandem skydiving drop zones across Australia and three throughout New Zealand. It also provides activities of white water rafting, hot air ballooning, canyoning and boat tours to the Great Barrier Reef in North Queensland, Australia.

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