Bristow Group, a provider of vertical flight services serving offshore energy, government services and search-and-rescue markets, has agreed to acquire Berry Aviation Inc. from Acorn Capital Management for $105 million.
The acquisition strengthens Bristow’s (NYSE: VTOL) Government Services business by adding special mission aviation capabilities, defense-sector expertise, and long-standing relationships with U.S. government customers. Headquartered in San Marcos, Texas, Berry Aviation operates a fleet of more than 20 aircraft providing government and defense aviation services across multiple countries. Approximately 72 percent of the company’s revenue is generated from government-focused activities, including special missions, intelligence, surveillance and reconnaissance (ISR) operations, maintenance, repair and overhaul (MRO) services, training and mission support, and unmanned aerial systems (UAS) design and development. The remainder of its business consists of on-demand cargo logistics and aftermarket aviation supply-chain solutions.
Solomon Partners Securities served as financial advisor and Baker Botts served as legal advisor to Bristow on the acquisition, while Pareto Securities and Simonsen Vogt Wiig are advising on the planned Norway business sale. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.