Bristow to merge with Era Helicopters

Bristow to merge with Era Helicopters 24 Jan, 20, Source: Bristow Group

Letter posted by Bristow Group as an official filing with the US SEC (Securities and Exchange Commission), written by L. Don Miller, President and Chief Executive Officer.:-

Dear Colleagues,

Today is an important day in the life of Bristow as we continue to position our global company for long term success. It is with great enthusiasm that I announce our plan to combine with Era.

Like us, Era is a company with an unwavering commitment to safety, service excellence, financial discipline and like-minded employees. The combination of these two companies will strengthen Bristow’s global leadership in offshore aviation transportation as well as search and rescue operations while creating a financially stronger company.

The benefits of the combination with Era are expected to include better utilization of our aircraft and a more diversified customer base. Bristow will have approximately 300 mostly owned operating aircraft, creating the world’s largest operator of S92, AW189 and AW139 helicopters. The new organization will offer a broader range of world-class, efficient solutions for our global oil and gas customers and governmental agencies all while positioning Bristow to address ongoing industry challenges and making the investments needed to ensure safe and reliable operations.

The transaction is not expected to close until the second half of 2020, following (i) receipt of Bristow and Era shareholder approvals, (ii) completion of required regulatory approvals, and (iii) satisfaction of other customary closing conditions. It is important to note that both Boards of Directors and Bristow’s largest two shareholders support the combination.

Upon closing of the transaction later this year, Chris Bradshaw, the current President and CEO of Era, will become the President, CEO and Board member of Bristow and I will be stepping down from my current roles at Bristow. I have gotten to know Chris well over the past few years and I know him to be a leader with great integrity and someone who is well positioned to lead Bristow into its next chapter.

Until we close this transaction Bristow and Era will continue to operate as separate, independent companies and competitors and I will continue as President, CEO and Board member. The senior management team of the combined company is expected to be named at a later date.

I am proud to have led Bristow through some of the most challenging events in our company’s history and I am proud to lead this company through the closing of the combination with Era. You have my word that I will continue to serve Bristow with the same commitment, dedication, enthusiasm and passion as I have over the past 10 years with the company.

The future of Bristow and the opportunities this strategically and financially compelling combination presents are exciting. We should be proud of the meaningful strides we have made toward improving our Target Zero safety culture, processes, results, as well as diversification of our aviation services; none of which would have been possible without each of you.

We will continue to operate as we always have by maintaining our focus on the uncompromised safety and wellbeing of each other, our passengers, and our clients. In terms of integration planning for this combination, we are in the very early stages. A well thought out post-closing integration process will include representatives from both companies. This will ensure that “best practices” from both companies are integrated into the new Bristow. Once the integration team is in place and the details of the integration process have been developed, more information will be provided.

 

Undoubtedly, there will be many questions over the next few weeks. I am committed to keeping you updated throughout this process and will do such as significant events warrant. In the meantime, click here for a set of FAQs and additional details about the combination.

I appreciate that while this is an exciting combination, this is a lot to process considering all the challenges we have overcome over the past 14+ months. As we did during our restructuring process, I ask you to continue to remain focused on your day-to-day tasks, fully committed to safety and service excellence. It is keenly important that we continue to fulfill our commitment to our Core Values: Safety, Quality and Excellence, Integrity, Fulfillment, Teamwork and Profitability.

We are confident that the combination of Bristow and Era will position our future well. I remain thankful for your continued hard work and dedication to Bristow as you are the heart and soul of this great company.

As always, please feel free to reach out directly to me with comments and questions.

All the best,

Don

 

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