Bristow Group to Acquire Berry Aviation for $105 Million

By Ahmed Jamerson • Saturday, June 27 13:01 • Permanent Link

Bristow Group said it will buy Berry Aviation for $105 million in cash, a move that would reshape its revenue mix toward government work and away from offshore energy services.

Berry Aviation generated about $108 million of revenue in 2025, and Bristow said the business would be immediately accretive to earnings and free cash flow. Bristow also said that, on a pro forma basis, the Berry deal together with its planned exit from Norway offshore energy services would have left 2025 EBITDA neutral.

The company said Berry Aviation’s government services operations account for about 72% of its revenue. Those activities include special missions, ISR, maintenance, repair and overhaul, training and mission support, and unmanned aerial systems design and development. The rest of Berry’s revenue comes from on-demand cargo logistics and aftermarket supply-chain aviation services.

Bristow said the combined business would have had a 2025 revenue mix of 54% offshore energy services, 35% government services and 11% other services, compared with Bristow’s actual 2025 mix of 66% offshore energy services, 26% government services and 8% other services.

Berry Aviation operates a fleet of more than 20 aircraft and serves government and defense customers across multiple countries. Its customer list includes the U.S. Army, U.S. Air Force, U.S. Special Operations Command and U.S. Transportation Command.

Bristow said the acquisition adds CARB certification, CAMTS certification, Part 135 airdrop authorization and GPS-denied airspace operating capability. It also said Berry’s unmanned aerial systems work could expand Bristow’s exposure to lower-cost ISR and next-generation defense aviation programs.

The company said it expects the deal to close in the third quarter of 2026 and plans to fund it with cash on hand. Bristow also said it is pursuing the sale of its Norway offshore energy services business as part of its portfolio optimization strategy. The market has reacted to these announcements by moving the company's shares 1.28% to a price of $41.92. For more information, read the company's full 8-K submission here.

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