Exact Air Inc.
BDC understood our needs and the specifics of the aerospace industry while providing us with financing that was perfectly customized to our reality. In a complex industry like ours, we were pleasantly surprised by how straightforward, quick and transparent the process was. Being able to rely on a committed financial partner helped reinforce our long-term goals.
Benoit Luneau
President and Director of Operations
A player in the aviation sector since 1983, the company operates a fleet of 39 aircraft, two-thirds of which are flown in Québec to combat wildfires in partnership with SOPFEU.
About the company
In addition to assisting in fighting wildfires, the company offers pilot lessons, charter and tourist flights, as well as LIDAR work and aerial photography.
Location: Saint-Honoré, Quebec
Industry: Aerospace
Entrepreneur challenge
In 2020, Exact Air Inc. was acquired by members of senior management through seller financing provided by the former owner. In 2024, BDC offered financing enabling the buyers to repay their debt while preserving the working capital needed for growth. In the aerospace industry, where margins are tight and investments are high, financing can be complex. BDC understood the issues and offered a straightforward solution in line with the company’s needs.
BDC expertise
Having built extensive expertise in the aerospace industry since its inception, BDC implemented flexible, customized financing with a 12-year repayment period (rather than the 5-to 10-year period normally offered by financial institutions) and payments adapted to the company’s cash flow. BDC also offered a 12-month principal repayment holiday, during which the buyers had the option of only paying interest, providing them with strategic wiggle room.
Results
- Flexible financing and the cash flow to continue making investments, including building a 1,450 m² (15,600 sq ft) hangar
- Strong positioning to ensure the continued growth of the company, whose turnover has increased 130% since being acquired by the new owners
- Increased Exact Air Inc.’s value due to the purchase of new aircraft and investments in technology to improve reliability and security