Bristow Group Inc. is reportedly close to acquiring Berry Aviation Inc. in an all-cash deal valued at $105 million. The transaction involves purchasing Berry Aviation from private equity firm Acorn Capital Management. This move is strategic for Bristow, as it aims to expand its presence and capabilities within the government services sector.
The acquisition is expected to significantly improve Bristow's ability to generate recurring revenue, according to sources familiar with the matter. This indicates a focus on strengthening its financial stability and predictability through government contracts.
Following the Bloomberg report, Bristow Group Inc. officially announced the definitive agreement to acquire Berry Aviation from Acorn Capital Management for $105 million. This acquisition is anticipated to bolster Bristow's government services offerings by adding differentiated special mission capabilities and long-standing relationships with U.S. defense and government customers. Berry Aviation, founded in 1983 and based in San Marcos, Texas, provides a wide range of services, including on-demand cargo, mobility and transport, outsourced surveillance, drone services, and component/repair overhaul. Its 2025 revenues were approximately $108 million, with roughly 72% derived from government services. The deal is expected to be immediately accretive to Bristow's earnings and free cash flow and is anticipated to close in the third quarter of 2026, subject to customary closing conditions. Bristow plans to fund the transaction with cash on hand. Leadership at Berry Aviation will remain in place after the acquisition.
