PAI Partners-Backed Swissport in Talks to Buy Servisair
Aviation luggage-handling service company Swissport International Ltd. is in exclusive talks to buy baggage-handler Servisair for an undisclosed sum, the companies said in an e-mailed statement.
The purchase of Servisair, owned by Paris-based maintenance and recycling group Derichebourg SA (DBG), would be the latest transaction by Swissport since it was purchased by private-equity firm PAI Partners SAS in November 2010.
Swissport, which is based in Glattbrugg, Switzerland, announced in March it would buy the majority of the ground-handling operations from Nordic airline SAS Group AB. In September 2012, it purchased Flightcare Spain and Flightcare Belgium from Madrid-based FCC Versia SA.
The acquisition of Servisair would add about 15,000 people to the company’s 40,000 employees, Swissport said in the statement today.
BNP Paribas SA (BNP) and Sycomore Corporate Finance SAS acted as financial advisers to Swissport and PAI with Societe Generale SA and Lazard Ltd. (LAZ) advising Derichebourg, a spokeswoman for Paris-based PAI Partners said.
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