Helicopter Company $560M Acquisition

Houston helicopter co. makes $560M acquisition, CEO to retire

Houston-based Bristow Group Inc. (NYSE: BRS), which provides industrial aviation services, announced Nov. 9 it will acquire a privately held company for $560 million and its CEO will retire.

Bristow is buying Columbia Helicopters Inc. from the Lematta family and current management using debt, newly issued shares and cash. The deal is expected to close before the end of the year, according to a Nov. 9 press release. Columbia will become an unrestricted subsidiary, keeping its Columbia name and Aurora, Oregon headquarters.

Bristow provides helicopter transportation, search and rescue as well as aircraft support services, including maintenance, to government and civil organizations worldwide. Much of Bristow’s work involves the offshore oil and gas industry, but the Columbia acquisition will expand the company’s customer base geographically and by industry, per the release.

The combined company will have 304 operating aircraft, and 58 percent of its pro forma revenue for the trailing 12-month period will come from the oil and gas industry.

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