Bristow to Acquire Assets and Minority Equity Interest in Cougar Helicopters of Canada for $250M

Bristow Group Inc. BRS, the leading provider of helicopter services to the worldwide offshore energy industry, and Cougar Helicopters Inc., the largest offshore energy and search and rescue (SAR) helicopter service provider in Canada ("Cougar"), today jointly announced that Bristow has entered into a definitive agreement with Cougar's parent VIH Aviation Group Ltd. ("VIHAG") and various VIHAG affiliates to acquire a minority interest in Cougar and certain aircraft and facilities used by Cougar in its operations.  Cougar's operations are primarily focused on serving the offshore oil and gas industry off Canada's Atlantic coast and in the Arctic.  Privately-owned VIHAG of British Columbia is a leading helicopter service provider in Canada.  Bristow's investment will be $250 million with a three-year earn-out of up to an additional $40 million based upon Cougar achieving agreed performance targets.  The transaction is expected to be completed See full press release