US investors sell chopper firm to Kenyan executives
One of the Lady Lori helicopters. FILE
American investors have ceded ownership of a helicopter firm, Lady Lori Kenya Limited, to their local executives for an undisclosed amount.
A notice from the Competition Authority indicated that the new shareholders have fully acquired ownership of Lady Lori Kenya Limited as demand for helicopter services continues to rise.
“The Competition Authority authorises the proposed acquisition of 100 per cent of shares in Lady Lori Kenya by Ian Mbuthia Mimano, Adi Vinner and Peter Nthiga Njagi,” reads the notice signed by Wang’ombe Kariuki, the director general of the Competition Authority.
Mr Mimano is the CEO of Lady Lori while Mr Njagi works as the maintenance manager of the firm that was started 15 years ago by an American couple, Jim and Lori De Nooyer, who moved to Kenya from New York.
They started with one helicopter, which they used to travel across the country and later leased it to a commercial operator at the Wilson Airport. The couple bought a second chopper and tapped Mr Mimano to set up and steer the helicopter operation.
After years of operating from Laikipia, Lady Lori launched services in Nairobi. The move was to position the company for growth.
Lady Lori is one of the major players operating out of Wilson Airport competing with Everett Aviation, ALS Limited, Youth Limited and Kenya Wildlife Service Airwing among others.
There has been increased demand for helicopter services mainly driven by ongoing oil exploration in northern Kenya, which is not easily accessible by road.
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