Agility Closes GBP 763m Acquisition of Menzies Aviation.
MANews-(C)2009-2022
Kuwait-based supply chain services, infrastructure and innovation company Agility has finalized its acquisition of UK-based aviation services company John Menzies plc and will combine the business with its National Aviation Services (NAS) business to create a leader in aviation services in 58 countries, the company said.
Once integrated, the combined company will operate as Menzies Aviation and will be the world's largest aviation services company by number of countries and second largest by number of airports served.
Operating as Menzies Aviation, the combined company will provide air cargo services, fuel services and ground services at airports on six continents. Combined revenues of Menzies and NAS exceeded USD 1.5bn in 2021.
The new company will have approximately 35,000 employees and operations at 254 airports in 58 countries, handling 600k aircraft turns, 2m tons of air cargo and 2.5m fuelling turns per year.
The company's customers will include Air Canada, Air China, Air France-KLM, America Airlines, British Airways, Cathay Pacific, EasyJet, Emirates, Ethiopian, FlyDubai, Frontier Airlines, IAG, Jazeera, Qantas Group, Qatar Airways, Southwest, Turkish, United Airlines, WestJet and Wizz Air.
The boards of Agility and Menzies reached agreement March 30 on Agility's cash offer to acquire 100% of Menzies ordinary shares, which traded on the London Stock Exchange, for 608 pence a share.
The deal values Menzies at approximately GBP 571m (USD 693m) on a fully diluted basis and approximately GBP 763m (USD 926m) on an enterprise value basis.
Agility is a leader in supply chain services, infrastructure and innovation. It is a pioneer in emerging markets.
Agility is a multi-business operator, with companies that include a logistics parks...
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