Bristow to Acquire Berry Aviation for $105M, Expanding ISR and UAS Capabilities
VTOL•Bristow Group will acquire Berry Aviation for $105 million in cash, adding a 20-aircraft fleet, ISR, UAS development and MRO services. The deal, expected to close in Q3 2026, is immediately accretive, neutral to pro forma 2025 EBITDA and shifts Bristow's revenue mix to 35% Government Services.
1. Acquisition Details
Bristow will purchase Berry Aviation for $105 million in cash, subject to customary purchase price adjustments, adding more than 20 aircraft and specialized mission capabilities. The transaction is slated to close in Q3 2026, with Berry Aviation’s leadership team retained post-closing.
2. Financial Impact
Berry Aviation generated approximately $108 million in revenue in 2025, with 72% from special missions, ISR and related services. The acquisition is immediately accretive to earnings and free cash flow, neutral to 2025 pro forma EBITDA and shifts Bristow’s pro forma revenue mix to 35% Government Services.
3. Strategic Rationale
The deal enhances Bristow’s Government Services portfolio by adding ISR operations, unmanned aerial systems design, MRO, training and key certifications such as CARB and CAMTS. This supports a shift away from offshore energy services, strengthens defense customer relationships and creates cross-selling and operational synergy opportunities.
