Platinum Equity, a global private equity firm, has completed its acquisition of Worldwide Flight Services from LBO France. WFS, which was founded in 1971, employs 14,000 staff, spread out at over 145 major airports in more than 22 countries, handling an estimated 4 million tonnes of cargo each year for 300 airline customers.
Financial terms of the deal were not disclosed. Olivier Bijaoui, president and CEO of WFS said the collaboration will enable WFS “to provide even more possibilities for our customers and to explore new avenues of growth.”
Platinum Equity is 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 and Neovia Logistics.
Pictured: Olivier Bijaoui
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