Pegasus Helicopter Group Plc, a specialist kit helicopter company based in Arizona, has been admitted to PLUS via an introduction.

Pegasus Helicopter Group Plc, a specialist kit helicopter company based in Arizona, has been admitted to PLUS via an introduction.

Pegasus has developed and hopes to expand its low-cost two-seater helicopter, based on innovative pressure-jet technology that allows a reduction in the number of parts compared to a conventional helicopter.

Lindsay Sloan, an attorney from corporate adviser Atlantic Law’s London office, led the transaction as the company’s PLUS adviser. Sloan said Atlantic Law was appointed due to its expertise in complex cross-jurisdictional transactions; particularly with clients based in the United States.

“Pegasus Helicopter’s listing will increase the company’s international profile, allowing it to raise financing to access the European aviation market. We consider the company’s admission as further evidence of the growing appeal of the PLUS Market to US companies.”

Atlantic Law recommended The Hyde Partnership to act as reporting accountants.

The Hyde team was led by Colin Ellis with support from Dave Wiskin, Teh Wilson and Jacqui Everard.

Ellis said: “The challenges we had to overcome in helping Pegasus achieve a speedy listing were both helping the authorities to understand the group structure and how the assets are owned. We also had to consider the impact the issue of gaining the certificate of airworthiness had on working capital if a situation arose where orders couldn’t be fulfilled.”