Milbank LLP advised Era Group Inc., one of the world’s largest helicopter transportation companies, in its agreement to merge with leading offshore oil and gas transportation provider Bristow Group Inc. The all-stock transaction will create a world-leading aviation solutions company with pro forma revenues of approximately US$1.5 billion annually and a run-rate adjusted EBITDA of approximately $240 million, as well as expanded operations in the Americas, Nigeria, Norway, the United Kingdom and Australia. Shares of the combined company, to be named Bristow, will trade on the New York Stock Exchange.
The Milbank team was led by Global Corporate partners Scott Golenbock and David Zeltner and Capital Markets partner Brett Nadritch. Also advising on the transaction were Antitrust partner Fiona Schaeffer, Executive Compensation and Employee Benefits partner Mike Shah with associate Kelly Bartley, Litigation & Arbitration partner Alan Stone with associate Katherine Kelly Fell, Tax partner Max Goodman with associate Archan Hazra, Global Corporate associates Amy Kletsel and Reed Homan, and Capital Markets associates Matthew Kusel and Susan Martin.
The transaction is expected to close in the second half of 2020.
