Bristow Group Inc and Era Group Inc to Combine as Bristow
Topics: Bristow Group, Era Inc, Helicopter Operator, Maritime and Coastguard Agency, MCA, UK SAR Helicopter Service
Bristow Group Inc. (“Bristow”) and Era Group Inc. (NYSE:ERA) (“Era”) announced today that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification. 
The combined company, which will be named Bristow, will strengthen its global leadership position with significant operations throughout the Americas, Nigeria, Norway, the United Kingdom and Australia for offshore aviation transportation and search and rescue solutions. The new organization will offer a broader range of world-class, efficient solutions through enhanced fleet size and diversity, continuing to invest in new technology and safety features to meet the evolving needs of new and existing oil and gas customers and governmental agencies.
“We believe this merger will create substantial value for the stakeholders of both companies,” said Chris Bradshaw, President and CEO of Era. “The identified cost synergies are significant and, combined with the strong pro forma balance sheet and absence of capital commitments, support robust free cash flow generation. This merger achieves more efficient absorption of the significant fixed costs required to run an air carrier and better positions the combined company to manage industry challenges.”
“Bristow and Era share complementary cultures built on an unwavering commitment to safety and quality through experienced, well-trained trained pilots, mechanics, engineers and support staff,” said L. Don Miller, President and CEO of Bristow. “Merging these two companies will further build on that culture to create an even stronger, more integrated industry leader.”
In 2013, Bristow Helicopters Limited won the UK Government national contract to deliver search and rescue operations on behalf of the Maritime and Coastguard Agency (MCA).
Seven of 10 strategically located bases took over the helicopter civilian SAR responsibility from the Royal Air Force and Royal Navy in a phased approach throughout 2015 and 2016. The existing Coastguard bases at Lee-On-Solent and Stornoway became part of the UK contract in April 2017, followed by Sumburgh in July 2017.
Bristow Group has a fleet of 321 helicopters and 75 fixed wing aircraft and Era Inc own a fleet of 108 helicopters.
Bristow’s service agreements and equity interests include transportation companies in Australia, Brazil, Canada, Colombia, Egypt, Norway, Russia (Sakhalin), Turkmenistan and the UK,Companies within the Bristow Group including:
- Airnorth – 100% owned by Bristow Helicopters Australia
- Lider Aviação – 41.9% owned Brazilian Operator
- Cougar Helicopters Inc. – 40% Canadian Operator located in St. John’s, Newfoundland, and Labrador and Halifax, Nova Scotia
- Petroleum Air Services (PAS) – 25% Egyptian Corporation
- Sky-Futures – $4.2 million investment – provider of Drone Inspection Services
Source Bristow
