Bristow merges with US rival

North Sea helicopter operator Bristow Group is buying an international rival for £430 million.

US-based Bristow said yesterday its merger with another American company, Columbia Helicopters, would give it more financial muscle, a more diverse fleet and customer base and “significant” revenue opportunities.

Founded in 1957 by Wes Lematta and headquartered in Aurora, Oregon, Columbia employs more than 800 people in the US, Canada, Afghanistan and Papua New Guinea.

“Columbia will continue to operate under its own name”

During the year to September 30, 2018, the company notched up about £90m in earnings before interest, taxes, depreciation and amortisation on revenue of around £215.6m.

Columbia will continue to operate under its own name as a subsidiary of Bristow after the deal completes, with both sides expecting this to happen before the end of 2018.

Bristow chief executive Jonathan Baliff said: “Columbia’s specialised heavy-lift capabilities complement Bristow’s offshore capabilities.

“We believe we will be able to utilise our UK SAR (search and rescue) expertise to build our combined business in the growing US government and industrial endmarkets, where Columbia has deep experience.”