Investment Summary

SATS Invests In Worldwide Flight Services

On April 3, 2023, SATS invested in airliner Worldwide Flight Services from Cerberus Capital Management for 1.3B EUR

Investment Highlights
  • This is SATS’s 2nd transaction in the Airlines sector.
  • This is SATS’s largest (disclosed) transaction.
  • This is SATS’s 1st transaction in France.

Investment Summary

Date 2023-04-03
Target Worldwide Flight Services
Sector Airlines
Investor(s) SATS
Sellers(s) Cerberus Capital Management
Deal Type Acquisition Financing
Deal Value 1.3B EUR

Target

Worldwide Flight Services

Roissy, France
website
Worldwide Flight Services is a provider of ground services at over 60 major airports. WFS provides ramp, passenger, cargo, and technical services for more than 200 domestic and international airlines, including American, Continental, British Airways, Cathay Pacific, and Korean Airlines. Worldwide Flight Services was founded in 1984 and is based in Roissy, France.

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Investor(S) 1

Investor

SATS

Singapore, Singapore

website


Category Company
Founded 1972
Sector Business Services
Employees12,000
Revenue 1.2B SGD (2022)
DESCRIPTION

SATS is a gateway services and food solutions providing company involved in airline catering, food distribution and logistics, institutional and remote-site catering, chilled, ambient and frozen food manufacturing as well as linen and laundry services. SATS was founded in 1972 and is based in Singapore.


DEAL STATS #
Overall 3 of 3
Sector (Airlines) 2 of 2
Type (Acquisition Financing) 1 of 1
Country (France) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-25 CAS Group

Jakarta Timur, Indonesia

PT. Cardig Aero Services Tbk is an airport services providing company involved in ground handling, cargo handling, aircraft maintenance and catering services. PT Cardig Aero Services was founded in 1984 and is based in Jakarta Timur, Indonesia.

Buy -

Seller(S) 1

SELLER

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


DEAL STATS #
Overall 53 of 54
Sector (Airlines) 1 of 1
Type (Acquisition Financing) 1 of 1
Country (France) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 Torngat

Montréal, Quebec, Canada

Torngat is a private company developing the Strange Lake project in the Nunavik region of Québec to provide a long-term responsible supply of rare earths required for many high-tech and low-carbon technologies, including electric vehicles and wind turbines. Strong global market growth and a sustainable climate require new sources of responsible rare earth supply. Torngat is based in Montréal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-31 Spring EQ

Conshohocken, Pennsylvania, United States

Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. It offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. Spring EQ was formed in 2016 and is based in Conshohocken, Pennsylvania.

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