RIVE Private Investment has acquired a four-helicopter portfolio from Milestone Aviation. The transaction includes three Leonardo AW139 helicopters and one Leonardo AW169.
Three of the aircraft currently support offshore wind operations in the North Sea. They operate from bases in the UK and Germany.
RIVE acquired all four helicopters with their existing lease contracts in place. The transaction closed on November 6, 2025. Current operators include HeliService and Uni-Fly, both recognised for their early role in hoist-equipped helicopter services for offshore wind missions.
RIVE said the aircraft are operated by experienced European and U.S. specialist operators. These operators provide services to major energy companies. Three of the helicopters work along the British east coast and offshore Germany, a region that hosts the largest concentration of offshore wind projects in Europe.
According to RIVE, the acquisition supports its strategy of building long-term relationships with major global lessors. The company said it acts as a financial investor, supporting portfolio management for partners such as Milestone without competing operationally.
RIVE described the transaction as a “win-win relationship” that creates opportunities for future collaboration. The company said the deal supports its goal of expanding a portfolio of critical infrastructure assets.
RIVE arranged senior financing for the acquisition with Investec. The South African bank has previously partnered with RIVE on similar transactions.
Camille Brunel, Partner, Transportation Assets at RIVE, said the acquisition aligns with the firm’s long-term focus on assets that support the energy transition. He noted that offshore wind in the North Sea remains a growth sector where RIVE continues to strengthen its presence. The firm already operates helicopters and four service vessels in the region. Brunel added that the AW139 and AW169 remain among the most in-demand aircraft for these missions.
Mark England, Head of Leasing Operations at Milestone Aviation, said the company was pleased to complete the transaction with RIVE. He described RIVE as a trusted partner with a clear, long-term commitment to critical assets. He added that the helicopters will continue to support essential energy operations and that the deal reflects Milestone’s active portfolio management strategy.
Odi-sé Avocats served as legal counsel to RIVE on the acquisition. Smith Gambrell Russell advised Milestone on the sale. Watson Farley & Williams acted as legal counsel on the financing.
The transaction comes as offshore wind activity continues to expand across the UK. Earlier this week, the UK government awarded contracts for several major offshore wind projects around England, Scotland, and Wales. Among them is a proposed 4.1-gigawatt wind farm in the outer Firth of Forth off Scotland’s eastern coast. The project could include up to 307 turbines and generate enough electricity to power up to six million homes.
