Houlihan Lokey Advises BlueSky Helicopters

Houlihan Lokey is pleased to announce that BlueSky Helicopters (BlueSky) has been acquired by Fundamental Advisors (Fundamental). The transaction closed on June 24, 2026.

Based in Southern California, BlueSky provides specialized helicopter services across the Western U.S., including aerial firefighting, powerline support, utility and construction services, animal surveying, and other essential aerial operations. The BlueSky team has a long history of providing mission-critical aviation services to leading energy companies and state and federal public safety agencies.

The acquisition expands Fundamental’s public service helicopter platform to approximately 25 aircraft and establishes a meaningful presence in one of the nation’s most active markets for aerial firefighting and utility services. BlueSky also brings in-house maintenance capabilities, which are expected to enhance operational expertise and aircraft availability across the broader platform as Fundamental continues to scale this strategy.

BlueSky represents Fundamental’s latest investment in its public service helicopter strategy, which was launched in 2025 to support businesses providing mission-critical aviation services across the United States. The strategy focuses on partnering with operators that provide essential public safety, utility infrastructure, and emergency response services, while providing the capital, operational resources, and platform support needed to scale in a fragmented sector.

Founded in 2007, Fundamental is an established alternative investment manager focused on the development and revitalization of municipal, public purpose, and community assets. Through both control-oriented and specialty finance strategies, Fundamental pursues asset-based opportunities across essential service sectors, including affordable housing, senior care, renewable energy, and non-traditional infrastructure.

Houlihan Lokey served as the exclusive financial advisor to BlueSky, and the transaction represents the firm’s continued success and deep expertise in the aviation services market segment. Since 2020, Houlihan Lokey’s Aerospace, Defense & Government practice has closed 90+ transactions worth more than $17 billion in enterprise value. Houlihan Lokey’s Aerospace, Defense & Government practice is among the largest dedicated industry banking teams worldwide.

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