Bristow Group said it will buy Berry Aviation for $105 million in cash, a move that would lift its government services business and reduce its dependence on offshore energy.
Berry Aviation generated about $108 million in revenue in 2025 and operates a fleet of more than 20 aircraft. Bristow said the target’s government services operations account for about 72% of Berry’s revenue, with the balance coming from on-demand cargo and aftermarket aviation services.
The deal is expected to close in the third quarter of 2026 and will be funded with cash on hand.
Bristow said the acquisition, combined with its planned exit from its Norway offshore energy services business, would have shifted its 2025 revenue mix to about 54% offshore energy services, 35% government services and 11% other services. That compares with Bristow’s actual 2025 mix of 66% offshore energy services, 26% government services and 8% other services.
The company said the two moves together would have been neutral to 2025 EBITDA on a pro forma basis, while the Berry acquisition alone would have been immediately accretive to earnings and free cash flow.
Berry Aviation brings capabilities including special missions, intelligence, surveillance and reconnaissance, maintenance, repair and overhaul, training and mission support, and unmanned aerial systems design and development. Bristow said those businesses would add to its existing government services platform, which already includes search and rescue and other aviation programs in the Dutch Caribbean, the Falkland Islands, Ireland, the Netherlands, the United Kingdom and the United States.
Bristow also said it is pursuing the sale of its Norway offshore energy services business as part of a broader portfolio shift toward markets with better margins and returns. As a result of these announcements, the company's shares have moved 1.28% on the market, and are now trading at a price of $41.92. If you want to know more, read the company's complete 8-K report here.
