Blade Air Mobility, a technology-powered global air mobility platform has confirmed the completion of the previously announced transaction to acquire Trinity Air Medical, Inc. (“Trinity”), a nationwide, multi-modal organ logistics and transportation company.
On September 9, 2021, Blade announced that the Company had signed a definitive agreement to acquire Trinity, subject to customary closing conditions. Under the terms of the agreement, Blade has purchased 100% of the capital stock of Trinity—which generated revenues of approximately $16 million in calendar year 2020—for an upfront purchase price of approximately $23 million and potential additional contingent consideration based on the achievement by Trinity of certain EBITDA growth targets over a three-year period, subject to customary purchase price adjustments. The transaction was completed on September 15, 2021.
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