Kuwait-based supply chain services and infrastructure company, Agility, has confirmed that it has acquired UK-headquartered John Menzies in a £763 million deal.
Agility will combine John Menzies with its National Aviation Services (NAS) business to create a company which will be called Menzies Aviation.
Menzies Aviation is expected to become the world’s largest aviation services company by number of countries and second largest by number of airports served.
The new company will have approximately 35,000 employees and operations at 254 airports in 58 countries, handling 600,000 aircraft turns, 2 million tons of air cargo and 2.5 million fuelling turns per year.
It will provide provide air cargo services, fuel services and ground services at airports around the world. The combined revenues of Menzies and NAS exceeded US$1.5 billion in 2021.
The company’s customers will include Air Canada, Air China, America Airlines, British Airways, Easyjet, Emirates, Flydubai, IAG, Jazeera, Qantas Group, Qatar Airways, Southwest, and United Airlines, among others.
Hassan El-Houry, who was previously the chief executive officer of NAS will now become the chairman of Menzies Aviation.
Agility vice chairman Tarek Sultan said, “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.”
Menzies Aviation chief executive officer Philipp Joeinig added, “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.”