Menzies Aviation to acquire air cargo handler Aeroground
The United Kingdom’s Menzies Aviation has reached an agreement to acquire San Francisco-based airport handling company Aeroground Inc.
No financial details were disclosed.
Aeroground operates at many of North America’s key international cargo airports, including Los Angeles, San Francisco, Chicago O’Hare, New York JFK, Dallas-Fort Worth, Portland, Seattle, Vancouver and Calgary. The company has annual revenue of $56 million and employs over 1,200 staff.
“By joining forces with Aeroground we can significantly broaden our customer offering in North America. There is a strong strategic fit, and this also takes Menzies to five new locations including New York and Chicago,” said Craig Smyth, chief executive officer of Menzies Aviation.
“Aeroground is a very well run company, which gives us the critical mass in crucial U.S. cargo airports. We are looking forward to working with its management team to grow the combined business and achieve further success,” Smyth added.
“Aeroground’s reknown cargo handling knowledge and Menzies Aviation’s worldwide infrastructure, financial capability, and additional products such as passenger and ramp services, will mean that we will be better positioned to deliver leading edge solutions for the cargo industry,” said Anthony Bonino, Aeroground’s CEO.
Bonino will join Menzies Aviation’s management team and continue to manage Aeroground. Steven Ballard, Aeroground’s senior vice president of operations, and regional vice presidents John Peery and Joe Butta, together with all regional and terminal management and staff, will continue as before, Menzies said.
Pending legal formalities, the transaction is expected to be completed within the next two months.