Platinum Equity completes WFS acquisition
OCT 2, 2015: Platinum Equity has completed the acquisition of Worldwide Flight Services (WFS) from LBO France.
Bastian Lueken, head of Platinum Equity’s European investment team, said, “We are excited about the prospects for WFS and are working with the management team to execute on the company’s long-term growth strategy.”
“It is the start of a new and exciting chapter in our long history and with Platinum Equity’s operational support and financial strength we can now build on the growth we have achieved in recent years. Our collaboration will enable WFS to provide even more possibilities for our customers and to explore new avenues of growth,” said Olivier Bijaoui, executive chairman, president and CEO of WFS
Platinum Equity is a global private equity firm currently investing from a $3.75 billion buyout fund focused on acquiring businesses that can benefit from the firm’s operational expertise. The firm has substantial experience in transportation, logistics and distribution services, including aviation. Recently held Platinum Equity portfolio companies include: Active Aero Group, a North American provider of supply-chain solutions focused on transportation logistics for customers with sensitive or time-critical freight; and Neovia Logistics, a provider of spare parts logistics, warehouse management and fulfillment services, distribution solutions and other value-added logistics services.