New York-based private equity firm American Securities LLC has acquired Air Methods Corp., an air medical transportation and tourism company, for approximately $2.5 billion in total. Air Methods CEO Aaron Todd says, “as a private company, Air Methods will have greater flexibility to execute our strategy and pursue long-term growth.”

Air Methods is one of the largest air medical transport providers offering emergency healthcare services in the U.S. In 2016, the target provided lifesaving care to more than 70,000 patients. Englewood, Colorado-based Air Methods has more than 300 flight bases and also operates an air tourism business. With the close of the deal, the target’s common stock will no longer trade on the Nasdaq stock market.

American Securities is a U.S. private equity firm that targets North American companies generating revenues between $200 million and $2 billion or $50 million and $300 million in Ebitda. The PE firm has approximately $15 billion in assets under management. Founded in 1994, American Securities focuses on a variety of industries which include: consumer, power and energy, healthcare, industrial and business services. The firm sold Robertson Fuel Systems LLC, a maker of fuel tanks for military and commercial aircrafts, to Heico Corp. (NYSE: HEI) for $225 million in cash.

Recent acquisitions of specialized transportation companies include: American Securities’ purchase of school bus manufacturer Blue Bird Corp.;Jordan Co.-backed American Fast Freight Inc.’s acquisition of ocean freight provider Global Transportation Services Inc.; Bregal Sagemount’s investment in freight services company Internet Truckstop Group; and Revelstoke Capital-backed Transport Holdings LLC’s buying truck provider Jones Motor Group.

Goldman Sachs & Co. served as financial adviser to Air Methods alongside Centerview Partners LLC. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal adviser to Air Methods alongside Holland & Hart LLP. Barclays served as financial adviser to American Securities, while Weil Gotshal & Manges LLP acted as legal adviser. The Air Methods deal was announced on March 14.