Cerberus Capital Management to Acquire Worldwide Flight Services

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.”

Craig 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.”

Citigroup Global Markets Limited served as financial advisor to Cerberus and Linklaters LLP was Cerberus’s legal advisor.

See latest HD Video Interviews, Podcasts and other news regarding: Cerberus, Aviation.