An affiliate of Cerberus Capital Management has
entered into an agreement to acquire Worldwide Flight Services
(WFS) from Platinum Equity.
Headquartered in Paris, WFS is one of the
world’s largest air cargo handlers and a leading provider of
ground handling services with over €1.2 billion of total revenues.
WFS has a presence in 198 airport locations in 22 countries and
serves over 300 customers.
“WFS is a market leader in aviation services and
is positioned to benefit from attractive long-term industry
growth,” said Brett Ingersoll, Head of Global Private Equity and
Senior Managing Director of Cerberus. “Cerberus has extensive
operational experience and a successful track record in aviation
and we are excited to support WFS’s next stage of growth.”
Brooks, Managing Director of European Private Equity at Cerberus,
added, “We plan to partner with Craig Smyth, and WFS’s
management team, and its 22,800 dedicated and hardworking
employees, to enhance its growth and services. Cerberus has a
longstanding presence in Europe and WFS will be a fantastic
addition to our growing portfolio.”
Markets Limited served as financial advisor to Cerberus and
Linklaters LLP was Cerberus’s legal advisor.