Elifriulia Gains Full Ownership Under Eliance

Swiss Life Asset Managers and RiverRock, through their helicopter group Eliance, have acquired 100% ownership of Elifriulia, an Italian helicopter operator. This acquisition marks an exit for Fvs sgr, a private equity firm controlled by a financial entity from the Veneto region, and Friulia, a financial entity of the Friuli Venezia-Giulia region. Founded in 1971 by Luigi Coloatto, Elifriulia is the oldest helicopter operator in Italy, providing a range of services such as emergency medical services (HEMS), forest firefighting, flight training, helicopter rental, public transport, and aerial work. In 2021, Fvs sgr and Friulia invested in Elifriulia through a minority stake acquisition and capital increase to fund its growth in emergency services. By 2022, Eliance became the majority owner, facilitating the company’s accelerated growth and international expansion. Under Eliance's ownership, Elifriulia expanded its operations from three bases to twelve across Italy and Europe, increasing its HEMS contracts and helicopter fleet. Fernando Gallardo, CEO of Elifriulia, highlighted the company's strengthened market position and readiness for further growth, while Fvs sgr's president Fabrizio Spagna pointed to Elifriulia's strong foundational base and the successful closing of their first investment vehicle, paving the way for the launch of a new fund.