Acorn Capital Management Completes Exit of Berry Aviation

Acorn Capital Management ("Acorn"), a private fund management firm investing exclusively in the aerospace, defense, intelligence, and space sectors, today announced the successful sale of Berry Aviation ("Berry"), a leading provider of specialized aviation services to U.S. government and commercial customers, to Bristow Group Inc. (NYSE: VTOL ). 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 va...