Worldwide Flight Services has a new owner

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 US$6 billion of assets under management.


Worldwide Flight Services has a new owner


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 US$6 billion of assets under management. Platinum Equity is purchasing WFS from LBO France, which has owned the company since 2006. The proposed transaction is expected to close by end of June 2015 subject to regulatory approvals.

WFS is the world’s largest cargo handler and a leading global provider of ground handling and technical services with annual revenues in excess of €620 million. It is present at over 140 major airports in more than 22 countries on five continents, serving 50 million passengers and handling over four million tonnes of cargo per annum for 300 airline customers.

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.”