WFS to accelerate growth under new owners
MAY 14, 2015: Worldwide Flight Services (WFS) is set to accelerate its growth by exploring more business opportunities and implementing its acquisition strategy under the new ownership of Platinum Equity, a global investment firm with more than $6 billion of assets under management. Olivier Bijaoui, Executive Chairman, President and CEO of WFS, said, “We view our future collaboration with Platinum Equity as a unique opportunity to grow our business and explore new opportunities, leveraging on our solid foundations and second-to-none experience. Their financial strength and M&A expertise will be of great support in our acquisition strategy and help the management to write a new and successful page of WFS history.” Bastian Lueken, Head of Platinum Equity’s European investment team, added, “We are excited about the prospects for WFS and look forward to working with Olivier and the management team to take the next step in the company’s global growth and evolution. We have a great deal of experience in transportation and logistics and we share the company’s commitment to providing world class service to its customers.” WFS has pursued its development in fast-growing geographies such as the Middle-East, Asia and Africa and in complementary businesses such as VIP services and the management of cruise terminals, including in Hong Kong. Most recently, the Group made a strategic move in Brazil through the acquisition of a controlling stake in Orbital Group, a leading Brazilian provider of ramp, passenger and airport security services. In the last two years, WFS has opened new cargo terminal facilities in Johannesburg and Cape Town, entered into a joint venture to provide Meet & Assist Services at the new Queen Alia International Airport (QAIA) terminal in Amman, and acquired Swissport’s cargo business at Copenhagen Airport. It has also won the handling concession for a new cargo terminal at Milan’s Malpensa Airport, signed a co-operative agreement with ATA Italia to jointly market cargo, ramp and passenger ground handling services in Italy, and acquired new premises at London Heathrow to reinforce its position as the largest on-airport cargo handler.