Swissport has announced that the acquisition of Servisair from Derichebourg SA has been completed. On 2nd August last year Swissport announced that it had entered into a definitive agreement to acquire Servisair. Financial terms were not disclosed. All required regulatory approvals were obtained before closing.
With the closing, Swissport now employs more than 55,000 personnel, and the company´s network exceeds 255 stations in 46 countries. Swissport's expanded and comprehensive service offering will compliment more than 700 customers, which equates to more than 3.9 Mio flights and 224 Mio passengers served per annum. An estimated 4 Mio tons of cargo are moved and 120 warehouses are operated worldwide throughout the combined network.
"The acquisition is an essential part of Swissport´s growth strategy. Our customers will benefit from the enlarged global network, the increased portfolio of value-added services, the combined operational excellence and the consistent service quality worldwide", said Per H. Utnegaard, Group President and CEO of Swissport International. "We are very much looking forward to welcoming the employees and to integrating the business of Servisair into Swissport."
The integration of Servisair into Swissport started at the beginning of this month.
The integration is expected to be completed within 2014. More media information will be provided from 7th January onwards.
Swissport International Ltd. is the world´s largest provider of ground and cargo handling services in the aviation industry. The company provides ground services on behalf of some 700 client-companies and handles around 224 million passengers and 3.9 million flights per year. The company operates 120 warehouses and moves approx. 4.0 million tonnes of cargo. With a workforce of around 55,000 personnel, Swissport is active at more than 255 stations in 46 countries across five continents, and generates annual consolidated operating revenue of CHF 3 billion. www.swissport.com
Swissport is owned by PAI Partners. PAI is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich and Stockholm. PAI manages and advises dedicated buyout funds with an aggregate equity value of EUR 4.5 billion. Since 1994, PAI has completed 50 LBO transactions in 10 European countries, representing EUR 36 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with strong sector expertise. PAI provides portfolio companies with the financial and strategic support required to pursue their development and enhance strategic value creation. For further information about PAI: www.paipartners.com