Bristow Group Announces Acquisition of Vortex Helicopters
HOUSTON, Nov. 14 /PRNewswire-FirstCall/ -- Bristow Group Inc. (NYSE: BRS) announced it has completed the acquisition of New Iberia, LA based Vortex Helicopters, Inc., a flight training school, for approximately $2.5 million. The acquisition is part of the expansion of Bristow's Global Training Division. Vortex owns 11 training helicopters and focuses on high quality flight training for helicopter pilots, primarily from the Gulf Coast area. Upon completion of the transaction, the flight school has been renamed Bristow Academy Inc., New Iberia Campus.
Patrick Corr, President of the Bristow's Global Training Division said, "Having a training school in the heart of the Gulf of Mexico region is a key element in our global strategy to address pilot recruitment and retention. The New Iberia campus will focus on attracting aspiring pilots who have a strong connection to the Gulf Coast community."
Vortex founder, Joe Sheeran added, "I'm looking forward to a new chapter in the growth of the company I established in 1987. It's exciting to see the opportunities that are available to the school, its students, and its staff through this acquisition." Sheeran will continue with the company in the role of General Manager of the New Iberia campus.
With the addition of the New Iberia school Bristow Academy now has training facilities located in Louisiana, California, and Florida, as well as in the United Kingdom. The Academy is approved to provide training for all U.S. Federal Aviation Administration and European Joint Aviation Administration helicopter licenses.
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Mexico, Nigeria, Russia and Trinidad. For more information, visit the Company's website at http://www.bristowgroup.com.
Linda McNeill, Treasury Manager
SOURCE Bristow Group Inc.
Released November 14, 2007