Ferrovial successfully concludes the sale of Swissport to PAI Partners, a private equity firm for 695 million euro
Zurich/Madrid/Paris - The sale announced on 2 November 2010 of Swissport, the world’s leading provider of ground services to the aviation sector, by Ferrovial of Spain to French-based private equity firm PAI Partners was formally concluded yesterday as planned. Swissport International will now continue to pursue its growth strategy.
PAI Partners and Swissport International Ltd were also able to announce a few days ago the closing of a secured bond financing through an offering by an affiliate of PAI partners to a wide international investor base. PAI Partners will now further pursue Swissport’s successful global business model with the current Swissport Group Executive Management led by President & CEO
Per H. Utnegaard.
In doing so, PAI partners will be striving not only to maintain Swissport’s world-leading position in the aviation ground handling sector, but also to achieve profitable and sustainable growth.
“I am greatly looking forward to working with our new owners,” confirms Swissport Group CEO Per H. Utnegaard. “Our entire top-management team is extremely motivated and looking forward to the challenges ahead. The general economic situation and the health of the airline sector improved in 2010, and this should allow Swissport International to outperform the market in 2011.”
“I would also like to take this opportunity,” Utnegaard continues, “to thank Ferrovial for being a very supportive and first-class owner.”
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