This is to be achieved by exploring more business opportunities and implementing its acquisition strategy under the new ownership of Platinum Equity, a global investment firm with more than US$6bn of assets under management.
Olivier Bijaoui, Executive Chairman, President and CEO of WFS, said: "We view our future collaboration with Platinum Equity as a unique opportunity to grow our business and explore new opportunities, leveraging on our solid foundations and second-to-none experience. Their financial strength and M&A expertise will be of great support in our acquisition strategy and help the management to write a new and successful page of WFS history."
It has been a busy two years for WFS, the handler having opened new cargo terminal facilities in Johannesburg and Cape Town and entered into a joint venture to provide Meet & Assist Services at the new Queen Alia International terminal in Amman; moreover, it also acquired Swissport's cargo business at Copenhagen airport.
Also of importance was the fact that it won the handling concession for a new cargo terminal at Milan's Malpensa airport, signed a co-operative agreement with ATA Italia to jointly market cargo, ramp and passenger ground handling services in Italy, and acquired new premises at London's Heathrow to reinforce its position as the largest on-airport cargo handler.
