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Wed, Oct 13, 2010

Hawke Capital Partners To Acquire Keystone Med-Flight Services

Terms Of Of The Deal Were Not Announced

The rotorcraft-focused private equity investor Hawke Capital Partners announced today that it reached agreement to acquire substantially all of the assets of Keystone Med-Flight Services, LLC, based in Morgantown, PA. All maintenance for Keystone's air medical customers will be provided by sister subsidiary Uniflight, in one of its 3 MRO facilities located in Grand Prairie, TZX, Reading, PA and Rome, NY. In addition, the addition of Keystone Med-Flight to the Hawke Capital collection of rotorcraft business creates the fourth operating entity, adding to existing subsidiaries Uniflight, Aviation Services Unlimited which provides non-EMS Part 135 and Part 133 flight services, and Hawke Aircraft Holdings, Inc. Keystone Med-Flight operates a Part 135 certificate with EMS Operations Specifications.

Joe Hawke, Chairman of Hawke Capital and President and CEO of Uniflight, said, "The addition of Keystone Med-Flight to the Hawke Capital family of companies marks a very special moment in the development of our business. It enables us to reconnect with one of the most experienced and well regarded leadership teams in the HEMS industry, and it will undoubtedly provide the opportunity to expand even further our Northeastern U.S. operations. In addition, it represents a unique opportunity to resurrect the Keystone brand that was so beloved by the Flight Services customers for the 25 years that the division was in operation. We could not be happier about the opportunity to partner with Rick Hinkle, or his partners in Keystone Med-Flight, Jack Hustwit and Steve Weinert."

Rick Hinkle, President of Keystone Med-Flight, added, "It is very rewarding to have reached the point that we can publicly announce this transaction. Joe Hawke and I worked closely together when we were both involved with Keystone Helicopter Corporation, and, to borrow Yogi Berra's phrase, it has been "déjà vu all over again" watching Hawke Capital acquire Uniflight and develop its holdings in the helicopter industry. We are excited about having the opportunity to once again serve our customers with the same high quality of service that they became accustomed to at Keystone. The backing of Hawke Capital and the MRO support from Uniflight will ensure that we can make good on that promise."
 
Hawke Capital Partners is led by an Advisory Board chaired by Joe Hawke. Board members include Greg A'slinger, Paul Rayhill, and, with this acquisition, will expand to include Rick Hinkle. HCP continues to seek complementary acquisitions that will expand both the MRO and flight service lines of its operating subsidiaries.


Debbie Ginn-Frost

In a related development, Uniflight, LLC announced that it has hired Debbie Ginn-Frost to become its Director of Customer Relationship Management at the headquarters of its flagship MRO operations in Grand Prairie, Texas. Ms. Ginn-Frost has 32 years of rotorcraft maintenance, repair and support (MRO) experience and is one of the most accomplished executives in the area of parts, logistics support and aftermarket fleet support in the helicopter industry.

"I am really excited to join Uniflight in this new role as Director of Customer Service Management," she said. "It will once again give me the opportunity to provide the broad-based support to my loyal customers whom I have known in some cases for decades and whose fleets it has been a passion for me to care for. It is also rewarding to be able to join a growing business in a time when so many other businesses are not hiring."

FMI: www.hawkecapital.com, www.keystonemedflight.com, www.uniflight.com

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