Swissport acquires ASC strengthening its position in London
Swissport, a global leader in airport ground services and air cargo handling, has signed binding transaction agreements to acquire ASC, which provides ground handling and cargo services in London Heathrow and Gatwick airports.
Heathrow is the fifth largest airport worldwide by passenger volume and more than 60% of Britain’s air freight goes through London’s airports. Gatwick is the UK’s second busiest airport carrying 43 million passengers to over 200 destinations annually.
This strategic acquisition sets Swissport up for continued growth in both ground and cargo handling at London’s hub airports. Specifically, the transaction provides additional capability to Swissport’s ground handling operations which will further enhance its position as a resilient and innovative partner to airlines and airports and gives it access to additional cargo capacity at two warehouses at London Heathrow.
“The UK is one of our core markets worldwide. Strengthening our presence in the country is a key pillar of our growth strategy. Swissport has a clear M&A strategy to enhance our platform in markets where we can optimise growth, margin and resilience across the portfolio. We will continue to pursue our ambitious expansion agenda by combining strong organic growth and strategic M&A in critical geographic markets across our ground handling, cargo and hospitality businesses globally providing a world class service to our customers,” said Warwick Brady, President & CEO of Swissport International.
Karen Cox, Swissport’s CEO for the UK and Ireland, commented: “We are really excited about the opportunities this agreement provides to enhance our services and further grow our offerings in the UK. Swissport and ASC share the same values of safety, operational excellence, customer focus and innovative technology solutions. This means brilliant opportunities for our employees as they are part of a growing, global company in a thriving sector. We are very much looking forward to welcoming ASC into the Swissport family.”
Ignazio Coraci, Chairman of the Board of ASC, said: “This agreement will give our customers, employees and partners the opportunity to benefit from Swissport’s extensive global footprint with a broader range of services across its network. By combining our experienced teams with a proven track record of consistent high quality service delivery we will continue strengthening resilience and driving greater efficiency to our airline partners through our integrated and comprehensive service offering.”
This transaction is subject to customary closing conditions.