Bristow Group Inc. and Era Group Inc. announced Thursday that they have completed their merger.
The newly combined company - which will be headquartered at 3151 Briarpark Drive in Houston, Texas - will use the Bristow Group name and remain a publicly traded business on the New York Stock Exchange.
According to Bristow, the merger creates a financially stronger company and the world’s largest operator of S92, AW189 and AW139 model helicopters. The combination is expected to lead to annualized savings of at least $35 million through the elimination of redundant corporate expenses and enhanced operational efficiencies, Bristow outlined.
Bristow also highlighted that the new company will have significant operations throughout the Americas, Nigeria, Norway, the United Kingdom and Australia and be a “global leader” in offshore oil and gas transportation, search and rescue and aircraft support services to government and civil organizations.
“The closing of this strategic and financially compelling merger makes Bristow a larger, more diverse and stronger company, better positioned for the future,” Chris Bradshaw, the president and chief executive officer of Bristow, said in a company statement sent to Rigzone on Thursday.
“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,” Bradshaw added in the statement.
Bristow has an eight-member board of directors, which includes five members from the legacy Bristow company and two members from the legacy Era company, including the legacy Era chief executive officer. The board is comprised of G. Mark Mickelson, who will act as chairman, Christopher S. Bradshaw, Lorin L. Brass, Charles Fabrikant, Wesley E. Kern, Robert J. Manzo, Christopher Pucillo and Brian D. Truelove.
To contact the author, email andreas.exarheas@rigzone.com
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