Acorn Capital Management Completes Exit of Berry Aviation
Rhea-AI Summary
Acorn Capital Management announced it has completed the sale of Berry Aviation, a specialized aviation services provider to U.S. government and commercial customers, to Bristow Group (NYSE: VTOL). The transaction marks Acorn’s exit from its investment in Berry.
According to Acorn, Berry expanded meaningfully during its ownership through development of an unmanned aircraft systems business, enhanced maintenance, repair and overhaul capabilities, growth of government and cargo fleets, and optimization of on-demand cargo operations, alongside continued investment in people and infrastructure. Acorn described the deal as another successful realization aligned with its strategy of partnering with founder- and management-led aerospace and defense businesses. KippsDeSanto & Co. served as exclusive financial advisor and McAfee & Taft acted as legal counsel to Acorn.
Positive
- Completed exit of Berry Aviation to Bristow Group, described by Acorn as another successful realization of its strategy
- Operational expansion at Berry under Acorn ownership in UAS, MRO, fleet growth, and on-demand cargo optimization
Negative
- None.
News Market Reaction – VTOL
On the day this news was published, VTOL declined 0.94%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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During Acorn's ownership, Berry significantly expanded the business through the development of its unmanned aircraft systems ("UAS") business line, expansion of its maintenance, repair & overhaul capabilities, growth of its government and cargo aircraft fleets, optimization of its on-demand cargo ("ODC") operations, and continued investment in the people, infrastructure, and operational capabilities that position the Company for long-term success.
These strategic initiatives enhanced Berry's ability to support its government and commercial customers while reinforcing the Company's longstanding reputation for safety, operational excellence, and reliable mission execution.
"We are incredibly proud of what the Berry team accomplished during our partnership," said Rick Nagel, Managing Partner of Acorn Capital Management. "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."
The transaction represents another successful realization for Acorn and reflects the firm's strategy of partnering with founder- and management-led aerospace and defense businesses to accelerate growth, enhance operational capabilities, and create long-term value.
KippsDeSanto & Co. acted as exclusive financial advisor to Acorn Capital Management, and McAfee & Taft served as legal counsel in connection with the transaction.
About Acorn Capital Management
Acorn Capital Management is a middle-market private fund management firm focused exclusively on the aerospace, defense, intelligence, and space sectors. Acorn partners with founder-led and entrepreneur-owned businesses to accelerate growth through strategic investment, operational expertise, and deep industry relationships. Acorn works alongside management teams to build market-leading companies that enhance global mobility and protect national interests.
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SOURCE Acorn Capital Management