The purchase gives Menzies the scale and resources to expand, as the commercial aviation industry recovers from COVID-19.
UK-based ground handling company, John Menzies, has been bought by Agility, a supply chain services, infrastructure and innovation company. The latter will combine its acquisition with its National Aviation Services (NAS) business to form an aviation services company that will be present in 58 countries.
Operating as Menzies Aviation, the combined company will provide air cargo services, fuel services and ground services at airports on six continents. The combined revenues of Menzies and NAS exceeded $1.5 billion in 2021. The new company will have approximately 35,000 employees and maintain operations at 254 airports in 58 countries. In total, Menzies Aviation will handle 600,000 aircraft turns, 2 million tonnes of air cargo and 2.5 million fuelling turns per year.
The company’s customers will include many which have attended CONNECT, including Air France-KLM, British Airways, easyJet, Emirates, Flydubai, Jazeera Airways, Turkish Airlines and Wizz Air.
The deal values Menzies at approximately £571 million on a fully diluted basis and approximately £763 million on an enterprise value basis.