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Baker Botts Represents Bristow Group in Financing for $560 Million Combination with Columbia Helicopters

Release
Deal Description: On November 9, 2018, Bristow Group Inc. (NYSE: BRS), the leading provider of global industrial aviation services, announced that it has signed a definitive agreement to combine with privately-held Columbia Helicopters, Inc. ("Columbia") for $560 million. Columbia will be designated as an unrestricted subsidiary under the Columbia name and air operating certificate (AOC).

The transaction will be funded through a combination of debt, convertible debt, newly issued common shares to the Lematta family and existing Columbia management and cash from Bristow's balance sheet. Bristow has secured fully-committed debt and convertible debt financing for the transaction. The Lematta family and existing Columbia management, which is committed to leading the Columbia operating subsidiary, will roll over $77 million of their current ownership (including ownership in certain equity awards) into Bristow common stock, up to a maximum of approximately 7.1 million shares. Bristow remains focused on deleveraging and maintaining a strong liquidity position.

Baker Botts represented Bristow in connection with the financing.

For additional information, please see Bristow’s press release here

Baker Botts Lawyers/Office Involved: 

Corporate: John Geddes (Partner, Houston); A.J. Ericksen (Partner, Houston); Sarah Berens (Senior Associate, Houston); Lakshmi Ramanathan (Associate, Houston); Emmie Proctor (Associate, Houston)

Finance: Rachael Lichman (Partner, Houston); Lyman Paden (Partner, Houston); Shelley Austin (Special Counsel, Austin); Sarah Christian (Associate, Austin); Malory Weir (Associate, Houston); Samantha Chestney (Associate, Houston)

Restructuring: Manny Grillo (Partner, New York)

Employee Benefits: Gail Stewart (Partner, Houston); Chris Pratt (Special Counsel, Houston); Marian Fielding (Associate, Dallas)

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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