Switzerland-based ground handler, Swissport, may be for sale. Reuters reported that PAI, a private equity firm with headquarters in France, is contemplating a sale or stock market listing of the company late this year, or early in 2016.
Swissport could be worth €3.5 billion if a deal is struck. PAI purchased Swissport from Ferrovial for about €880 million in 2010.
Swissport completed the purchase and integration of Servisair in 2014. The company handles approximately 4.1 million tonnes of cargo per year for 700 clients, and is active at 265 airports in 45 countries. Swissport is one of 16 business services owned by PAI.
Per Utnegaard, the CEO of Swissport, is leaving, to be replaced by Eric Born, formerly of U.K. logistics company, Wincanton, on August 1.