Brookfield to acquire World Freight Company from PAI and EQT
WFC represents more than 300 airlines across 3,500 trade lanes and works with over 16,000 freight forwarders in more than 80 countries.
Brookfield has agreed to acquire World Freight Company (WFC), an air cargo general sales and service agent (GSSA) group, from PAI Partners and BPEA Private Equity Fund VI (EQT). The transaction is expected to close by the end of 2026, subject to customary conditions.
Reuters reported that EQT and PAI had explored a sale of WFC in 2021, seeking a valuation of more than €1.5 billion ($1.73 billion) at the time, while the current deal with Brookfield values the company at about $1.2 billion.
WFC was founded in Paris in 2004 and provides outsourced cargo sales and management services for airlines. The company represents more than 300 airlines across 3,500 trade lanes and works with over 16,000 freight forwarders in more than 80 countries. It's activities include cargo sales, booking management, shipment coordination, and handling oversight.
The company operates through a network of GSSA and cargo management companies across Europe, the Asia-Pacific, the Americas, the Middle East and Africa. Its GSSA portfolio includes ASN, Airborne International, Air Logistics Group (ALG), ATC Aviation, Kales Group, Aviation Plus, AMS GSA, ABDA Group, ACP, Wexco Cargo GSSA, Worldwide GSA, MCH Aviation, MSA, Allied Aviation, Starlight Express, Hermes Aviation, Prime Air, A.H. Group, Global Air Service, Fenix Cargo, HAE and Pacific Feeder Services. Their Solutions Services portfolio includes HAE, Infinity Cargo, AirCross, SkyReps, WTS, Air Tech and CSN
PAI and EQT said WFC expanded through acquisitions, investments in technology and growth in international markets during their ownership period. The company completed 20 acquisitions and added operational and digital capabilities across its network.
Brookfield Asset Management, headquartered in New York, is an investment firm that manages more than $1 trillion in assets across infrastructure, energy, private equity, real estate and credit. According to the company, its infrastructure portfolio includes investments in transport, utilities, midstream and data assets, while its real estate business includes logistics, warehousing and distribution properties.
Brookfield said it has historically invested in railroads and ports and continues to focus on infrastructure linked to global trade, supply chains and industrial activity. It has exposure to transport and logistics infrastructure through investments such as UK-based PD Ports, which operates port and logistics facilities across 11 locations including Teesport, Hartlepool and Felixstowe. Brookfield remained invested in the business after selling a 49% stake in PD Ports in 2025.
Guillaume Leblanc, Partner at PAI Partners, said: “We are proud to have partnered with WFC, its management team and EQT during such a transformational period for the company. During our investment, WFC completed 20 acquisitions and has developed into a truly scaled global platform with differentiated digital and operational capabilities. We thank Vikram Singh and the entire WFC team for their partnership and believe the company is well positioned for continued growth and innovation under Brookfield’s ownership.”
Janice Leow, Head of Private Capital in Southeast Asia at EQT, said: “EQT has been pleased to support WFC during a period of meaningful evolution for the business, including expanding its international footprint, enhancing its capabilities and continuing to invest in its customer offering. Together with PAI and management, WFC has further strengthened its position across global supply chains while advancing its digital and AI-enabled capabilities to better serve customers in an increasingly dynamic operating environment. It has been a privilege to work alongside Vikram Singh and the WFC leadership team, whose ambition and execution have been instrumental in the company’s development over the years. We wish WFC continued success in its next phase.”
Vikram Singh, Group CEO of WFC, said: “We would like to thank PAI and EQT for their support and partnership over the past several years. Together, we have materially strengthened WFC’s platform, expanded our capabilities and continued to invest in innovation and customer service. We are excited to partner with Brookfield as we continue executing our growth strategy and supporting our airline and freight-forwarding customers globally.”
Deutsche Bank acted as the lead financial adviser for PAI, EQT, and WFC, while Freshfields advised EQT on the transaction.
