Spanish private equity firm GED Capital has acquired a 51 per cent stake in helicopter operating business Habock.

Habock was formed in 2015 through the acquisition and merger of Catalan business TAF and Madrid-based Coyotair. It has 76 helicopters and eight aircraft, and has a presence in Chile, Argentina and Italy.

As part of the deal Habock will acquire aeronautical aircraft leasing company Finance Copter. With GED’s backing it intends to expand in Italy, Peru, Colombia and Cuba, pursuing a buy and build strategy.

Last week, GED’s ice maker Cubers Premium merged with Procubitos to create one of the largest players in the industry in Europe.