Country for PR: United Kingdom
Contributor: PR Newswire Europe
Friday, August 05 2022 - 01:19
Agility Completes Pounds 763 Million Acquisition of Menzies Aviation
KUWAIT CITY, Aug 4, 2022 /PRNewswire-AsiaNet/ --

Deal creates the world's largest aviation services provider

Agility[], a supply chain services, infrastructure 
and innovation company, announced that it has finalized its acquisition of 
UK-based John Menzies PLC[] and will combine the 
business with its National Aviation Services (NAS)[] 
business to create a world leader in aviation services in 58 countries.

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 $1.5 billion in 2021. The new 
company will have approximately 35,000 employees and operations at 254 airports 
in 58 countries, handling 600k aircraft turns, 2 million tonnes of air cargo 
and 2.5 million fuelling turns per year.

"Menzies and NAS will create the world leader in aviation services," said 
Hassan El-Houry, who becomes Chairman of the combined company, having 
previously held the role of NAS CEO.

"We will have the scale and resources to expand and grow as the industry 
recovers from the COVID-19 pandemic. Commercial aviation is a key engine of 
global economic growth, and our customers need partners they can count on as 
flight volumes return."

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.

"With the combination of Menzies and NAS, our customers will receive 
world-class service, expanded product offerings, and the industry's best safety 
practices at airports on six continents," said Menzies Aviation CEO Philipp 
Joeinig, who will be CEO of the combined company. "Agility's backing gives us 
the resources to provide innovative solutions for growing and forward-thinking 
customers, and to develop our talent, technology, and sustainability; critical 
factors for our future success. It also means we are well-positioned to support 
our customers in tackling supply chain challenges and labor shortages."

Agility Vice Chairman Tarek Sultan said, "This is a new chapter for Agility, 
Menzies, and NAS. By acquiring Menzies and combining it with NAS, Agility has 
the opportunity to unlock greater value in both. Agility has a strong track 
record of sustainable and responsible growth over the last two decades, driven 
both organically and through mergers and acquisitions, and this latest deal is 
part of our strategy to further accelerate that growth. For Agility, this deal 
creates the largest owned and operated – "controlled" - business in Agility's 
portfolio by revenue, headcount, and global presence. We're looking forward to 
seeing the new Menzies soar with Agility's backing."

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 
£571 million on a fully diluted basis and approximately £763 million on an 
enterprise value basis.

About Agility

Agility is a global 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 business that is one of 
the largest private owners of warehousing and industrial real estate in the 
Middle East and Africa, an aviation services company, a liquid fuel logistics 
business, and companies that offer customs digitization, remote infrastructure 
services, ecommerce enablement and digital logistics, and commercial real 
estate and facilities management. Agility is also an investor in innovation, 
sustainability and resilience, with a growing portfolio of listed and 
non-listed investment partners looking to reshape their respective industries 
across a range of sectors.

For more information about Agility, visit:

About Menzies Aviation

Menzies Aviation has been evolving since 1833 to become one of the worlds' 
largest aviation services companies with operations on six continents. It 
provides time critical ground services, fuel services and air cargo services at 
more than 210 airports in 41 countries, supported by a team of 31,000 highly 
trained people. Best in class safety and security is the number one priority 
every day. Customers include Air Canada, Air China, Air France-KLM, American 
Airlines, Cathay Pacific, easyJet, Frontier Airlines, IAG, Qantas Group, Qatar 
Airways, Southwest, United Airlines, WestJet and Wizz Air.

For more information about Menzies Aviation, visit:

About National Aviation Services (NAS)

Founded in 2003, National Aviation Services is a Kuwait-based aviation services 
company that leads in the emerging markets of the Middle East, Africa, and 
South Asia. One of the fastest-growing aviation services companies in emerging 
markets, NAS is owned and backed by Agility.

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Source: Agility