Bristow Completes Merger with Era

HOUSTON, June 11, 2020 (GLOBE NEWSWIRE) -- Bristow Group Inc. (NYSE:VTOL) and Era Group Inc. (“Era”) announced today that they have completed their combination (the “Merger”), creating a financially stronger company with enhanced size and diversification. The newly combined company will use the Bristow Group name (“Bristow”) and will remain a publicly traded company on the New York Stock Exchange.  The newly combined company’s common stock will begin trading under the stock ticker “VTOL” beginning on June 12, 2020 and will have a new CUSIP number of 11040G103.  

“The closing of this strategic and financially compelling merger makes Bristow a larger, more diverse and stronger company, better positioned for the future,” said Chris Bradshaw, President and CEO of Bristow. “The combination brings long-overdue consolidation in the industry, better prepares us to navigate today’s market challenges, and ensures we remain the global leader in helicopter services with an outstanding culture focused on safety and providing excellent service to our valued customers.”

The Merger strengthens Bristow’s 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 combined company offers a broader range of world-class, efficient solutions through enhanced fleet size and diversity, investments in new technology and safety features to meet the evolving needs of new and existing oil and gas customers and governmental agencies.

The combined company will be headquartered at 3151 Briarpark Drive, Suite 700, in Houston, Texas. The newly structured organization encourages enhanced collaboration globally while maintaining efficient and nimble local operations.

The combined company has an eight-member Board of Directors, including five members from legacy Bristow and two members from legacy Era, including the legacy Era CEO. The Board of Directors is comprised of G. Mark Mickelson (who will act as Chairman of the Board of Directors), Christopher S. Bradshaw, Lorin L. Brass, Charles Fabrikant, Wesley E. Kern, Robert J. Manzo, Christopher Pucillo and Brian D. Truelove.

The rationale for the Merger remains just as strong today as it was when first announced on January 24, 2020:

Enhanced Global Leadership with Significant Presence in Key Geographic Regions and End-Markets:

• Significant operations throughout the Americas, Nigeria, Norway, the United Kingdom and Australia
• Global leader in offshore oil and gas transportation, search and rescue and aircraft support services to government and civil organizations, with significant revenues and cash flow generated from government services contracts

Increased Fleet Size and Diversity: