CHC Group (NYSE:HELI) is a helicopter service company that specializes in transportation to offshore oil and gas platforms. The company underperformed over the past year due to continued low oil prices and declining activity in the offshore segment of the market. We believe the company is still well-positioned for the long term, but its exposure to large exploration and production companies will likely continue to be a drag on performance in the short term. We maintained our position.
From Meridian Growth Fund’s annual letter.
