Kuwait-based supply chain, infrastructure and innovation company Agility announced the acquisition of John Menzies PLC. The company reported the purchase on August 4, 2022. The transaction value for the U.K-based Menzies was GBP 763 million on an enterprise value basis. However, Menzies is valued at approximately GBP 571 million on a fully diluted basis. 

Purpose of Acquisition by Agility 

Agility intends to integrate the business with its National Aviation Services (NAS) subsidiary with the latest acquisition. The vision is to create a world leader in aviation services in 58 countries. 

Following the integration, the combined company will operate as Menzies Aviation.

Menzies Aviation will serve as the world’s largest aviation services company pertaining to the number of countries and the second largest with respect to the number of airports served.

Menzies Aviation seeks to provide air cargo, fuel, and ground services at airports across six continents. The combined company will probably have 35,000 employees and operations across 254 airports in 58 countries. It intends to handle 600k aircraft turns, 2 million tonnes of air cargo, and 2.5 million fuelling turns annually. Earlier in 2021, the combined revenues of Menzies and NAS exceeded USD 1.5 billion. 

Previously on March 30, Agility and Menzies’ boards approved Agility’s cash offer of acquiring 100% of Menzies’s ordinary shares. The respective shares traded on the London Stock Exchange for 608 pence a share.  

What the officials of the companies have to say

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. This latest deal is part of our strategy to accelerate that growth further. 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.”

In addition, the CEO of the combined company, Menzies Aviation, Philipp Joeinig, said, ” 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. 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 labour shortages.”

Further, Hassan El-Houry, former CEO of NAS and now becomes Chairman of the combined company, added, “Menzies and NAS will create the world leader in aviation services. 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.”

About Agility 

Agility, the Kuwait-based company, is a global leader in supply chain services, infrastructure and innovation. It caters as a multi-business operator. Its wide array of businesses include logistics parks, an aviation services company, a liquid fuel logistics business, and companies that offer customs digitization, remote infrastructure services, e-commerce enablement and digital logistics, and commercial real estate and facilities management.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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