Columbia Helicopters said it will retain its Aurora headquarters and all its 850 employees following its $560 million sale Friday to a Texas company, Bristow Group.

Bristow paid $560 million for the 61-year-old company, $492 million in cash and the remainder in stock. Columbia had been owned by the family of founder Wes Lematta, who died in 2009 at age 83.

About half of Columbia’s employees work in Oregon. The company operates heavy-lift Chinook helicopters for defense, firefighting and natural resource exploration efforts. It deployed helicopters to fight the California wildfires on Friday, the same day it announced its sale.

“We’ll continue to operate and be headquartered in Aurora, Oregon. All operations will continue to be managed out of here,” said Steve Bandy, Columbia’s chief executive. He will remain with the company as CEO following the deal.

Columbia had revenue of $281 million in the 12 months ending in September, according to the company. Bristow’s revenue totaled $1.4 billion in its last fiscal year, which ended in March.

Bristow’s operations in offshore oil exploration and search-and-rescue aircraft have very little overlap with Columbia’s, according to Bandy. That’s why the businesses don’t plan any job cuts following the deal, he said.

By diversifying the two companies’ businesses, though, Bandy said they anticipate creating a more robust combined operation.

“We think there’s opportunities to expand the business,” he said. “We definitely don’t see reductions.”

-- Mike Rogoway | twitter: @rogoway | 503-294-7699