Acorn Capital Management has completed the sale of Berry Aviation, a provider of specialized aviation services to U.S. government and commercial customers, to Bristow Group. The financial terms of the transaction were not disclosed.
The exit represents another realization for Acorn, a private fund management firm focused exclusively on investments across the aerospace, defense, intelligence, and space sectors.
Berry Aviation provides specialized aviation services supporting government missions and commercial operations. The company’s capabilities include aircraft operations, cargo transportation, maintenance, repair and overhaul services, and unmanned aircraft systems.
During Acorn’s ownership, Berry expanded its operations through investments in new capabilities, fleet growth, infrastructure, and personnel. These initiatives were intended to strengthen the company’s ability to support customers with complex and mission-critical aviation requirements.
One of the company’s major areas of expansion was the development of its unmanned aircraft systems business. The UAS platform broadened Berry’s range of aviation services and positioned the company to participate in the growing use of unmanned technologies across government and commercial markets.
Berry also expanded its maintenance, repair and overhaul capabilities during Acorn’s ownership. These services support the availability, safety, and operating performance of aircraft used in demanding missions.
The company expanded its government and cargo aircraft fleets, enabling it to support a broader range of customer requirements and pursue additional contracts.
Acorn and Berry also worked to optimize the company’s on-demand cargo operations. Berry’s ODC services provide flexible cargo transportation for customers requiring time-sensitive and specialized aviation support.
Additional investments were made in Berry’s management team, employees, operating infrastructure, and mission execution capabilities. Acorn said these initiatives helped position the company for continued growth under its new ownership.
Berry has developed a reputation for aviation safety, operational reliability, and the consistent execution of complex missions. Its customers include U.S. government agencies and commercial organizations with specialized transportation and operational needs.
Bristow Group’s acquisition of Berry expands its portfolio of aviation services and provides additional capabilities in government contracting, cargo operations, aircraft maintenance, and unmanned systems.
Acorn believes Bristow is a strong strategic partner for Berry because of its aviation experience, operating platform, and understanding of the specialized services Berry provides to its customers.
The transaction reflects Acorn’s investment strategy of partnering with founder-led, entrepreneur-owned, and management-led businesses in the aerospace and defense markets.
The firm typically works with management teams to accelerate growth, expand operating capabilities, strengthen leadership organizations, and establish new platforms for long-term value creation.
Acorn focuses on businesses that support global mobility, national security, defense readiness, intelligence operations, and the development of space and aviation technologies.
The sale of Berry demonstrates Acorn’s approach of investing behind established aerospace businesses and supporting them through periods of operational and strategic expansion before transitioning them to new ownership.
KippsDeSanto & Co. acted as Acorn Capital Management’s exclusive financial advisor in connection with the transaction.
McAfee & Taft served as Acorn’s legal counsel.
KEY QUOTES:
“We are incredibly proud of what the Berry team accomplished during our partnership. Working alongside an exceptional management team, we executed a shared vision to expand the Company’s capabilities, strengthen its leadership team, invest in new growth platforms, and position Berry for its next phase of growth. We believe Bristow is an outstanding strategic partner that recognizes the unique value Berry brings to its customers and employees. We thank the entire Berry organization for their dedication and commitment throughout our investment and wish them continued success as part of Bristow.”
Rick Nagel, Managing Partner of Acorn Capital Management
