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 at London Heathrow and Gatwick airports.
It said that the move would provide additional capability and gives it access to additional cargo capacity at two warehouses at London Heathrow.
Warwick Brady, President and chief executive of Swissport International, Warwick Brady, said: “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.”
Karen Cox, Swissport’s chief executive for the UK and Ireland, commented: “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.”
The transaction is subject to customary closing conditions.
ASC has 624 employees at Heathrow and Gatwick and handles 12,000 flights a year for 17 airlines.