Bristow Completes Acquisition of British International Helicopter Services Limited

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Aug 03, 2022, 05:00 ET

The acquisition is expected to strengthen Bristow's leading global Government Services offering
BIH will integrate into Bristow's U.K. operations and adopt the Bristow name and brand

LONDON, Aug. 3, 2022 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL) ("Bristow"), the global leader in innovative and sustainable vertical flight solutions, announced today that it has completed its acquisition of British International Helicopter Services Limited ("BIH") effective August 2, 2022, further enhancing its leading global Government Services offering.

Bristow will integrate BIH into its U.K. operations, where BIH will adopt the Bristow name and brand throughout its operations.

"This acquisition further enhances our government services business, and we welcome our new, highly capable and experienced team members into the Bristow family," said Chris Bradshaw, President and CEO of Bristow Group. "We will now build off BIH's longstanding history and strong relationships with the U.K. Ministry of Defence and will continue providing safe and reliable service to both military and civilian markets."

"The acquisition of BIH will further enhance Bristow's leading global government services business by strengthening existing relationships and developing new partnerships throughout government sectors for safe and reliable vertical lift solutions," said Alan Corbett, Senior Vice President of Bristow EAMEA and Search and Rescue. "Through this acquisition, Bristow is well-positioned to further expand our services throughout the U.K. and beyond."

BIH's more than 110 employees currently deliver combined search and rescue (SAR) and support helicopter services for the U.K. Ministry of Defence (MOD) with operations in the Falkland Islands and deliver Fleet Operational Sea Training (FOST) helicopter support for the Royal Navy in the U.K. BIH currently operates a fleet of two AW189 SAR-configured helicopters, three S61 helicopters, and one AS365 helicopter, performing various passenger and freight transport as well as hoist operations.

About Bristow Group

Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of major integrated, national, and independent offshore energy companies. Bristow provides commercial search and rescue (SAR) services in several countries and public sector SAR services in the United Kingdom on behalf of the Maritime & Coastguard Agency (MCA). Additionally, the Company offers ad hoc helicopter and fixed wing transportation services.

Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, Falkland Islands, Guyana, India, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the U.S. To learn more, visit our website at www.bristowgroup.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, among other things, statements regarding plans and expectations with respect to the acquisition of BIH (the "BIH Acquisition") and the anticipated impact of the BIH Acquisition on Bristow's results of operations, financial position, growth opportunities and competitive position, including anticipated or expected revenues or other benefits. Although we believe that the expectations reflected in these forward-looking statements are reasonable, such statements reflect Bristow's current views with respect to future events, financial performance and operational performance based on management's experience and perception of trends, current conditions, anticipated future developments and other factors believed to be appropriate, including information provided by BIH. As such, we can give no assurance that those expectations will prove to have been correct. These statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the BIH Acquisition; difficulties related to the integration of BIH into Bristow's business and our inability to realize the benefits of the BIH Acquisition; disruption from and/or the diversion of management's time and attention in connection with the BIH Acquisition and its integration into Bristow's business, making it more difficult to maintain relationships with customers, employees, regulators or suppliers; currently unknown risks and liabilities relating to the newly acquired business and its operations; and other risks more fully discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, each of which are available on our website (www.bristowgroup.com) or the SEC's website (www.sec.gov). If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This press release reflects the views of Bristow's management as of the date hereof. Except to the extent required by applicable law, Bristow undertakes no obligation to update or revise any forward-looking statement.

SOURCE Bristow Group