Bristow agrees to pick Berry Aviation up for $105m
Bristow is expanding its government services business.
Bristow Group is continuing its shift towards growing government services revenues with an agreement to acquire Berry Aviation from Acorn Capital Management for $105m in an all-cash transaction.
Based in San Marcos, Texas, Berry Aviation operates a fleet of more than 20 helicopters and fixed wing aircraft focusing on providing government and defence aviation services across a range of countries.
Accounting for about 72% of Berry Aviation’s revenues, its Government Services division provides 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 capabilities. The remaining revenue is supplied by on-demand cargo (ODC) logistics for blue chip end-customers and aftermarket supply-chain aviation solutions.
Special mission aviation
The acquisition of Berry Aviation, with its special mission aviation services capability, fits in with Bristow’s portfolio with key megatrends – increasing geopolitical risk, rising defence spending and the continued outsourcing of mission-critical aviation services – according to Chris Bradshaw, president and CEO of Bristow.
“Berry Aviation’s deep expertise, proven technical capabilities across a range of mission-critical operations and strong customer relationships are complementary to our existing Government Services operations, better positioning Bristow to compete for long-duration government programmes,” he said.
“While Bristow remains the premier provider of offshore energy aviation services, this transaction comes at an important time as we are evolving our business mix to include more durable, contracted revenue streams and building a more resilient and diversified platform to deliver attractive long-term growth and shareholder value.”
Grow Bristow’s earnings
The acquisition is expected to grow Bristow’s earnings through increased business from contracted government services and multi-mission aviation activities intended to deliver a “a more durable and balanced business profile”.
With the transaction will come a range of US certifications. These include: commercial Airlift Review Board (CARB) certification, Commission on Accreditation of Medical Transport Systems (CAMTS) certification and Part 135 Airdrop authorisation. It will also deliver the ability to operate in GPS-denied airspace and a highly specialised workforce that maintains long-standing relationships with the government agencies it services.
Berry Aviation’s government customers include the US Army, US Air Force, US Special Operations Command (SOCOM) and US Transportation Command (TRANSCOM).
Berry Aviation reported total revenues of about $108m last year. The acquisition is expected to close in the third quarter of 2026, subject to closing conditions. Bristow intends to fund the transaction with cash on hand.
Bristow’s financial adviser is Solomon Partners Securities and Baker Botts is serving as legal adviser to Bristow
Sale of Norway Offshore Energy Services
In a separate development, Bristow is pursuing the sale of its Norway Offshore Energy Services business as part of its strategy to optimise its portfolio.. Bristow remains focused on growing its Offshore Energy Services business in markets that meet its financial return parameters, it said. The operator expects to continue pursuing other opportunities in Norway, such as those in the Advanced Air Mobility space. The timing and structure of any sale transaction remain subject to market conditions and other considerations.
Bristow’s financial adviser for the sale is Pareto Securities AS and its legal adviser is Simonsen Vogt Wiig.
Meanwhile, read more about the three megatrends Bristow says are shaping its business here.
