M&A Deal Summary

Worldwide Flight Services Acquires Consolidated Aviation Services

On January 11, 2016, Worldwide Flight Services acquired transportation company Consolidated Aviation Services from ICV Capital Partners and Prospect Capital Management

Acquisition Highlights
  • This is Worldwide Flight Services’ 2nd transaction in the Transportation sector.
  • This is Worldwide Flight Services’ 1st transaction in the United States.
  • This is Worldwide Flight Services’ 1st transaction in New York.

M&A Deal Summary
Date 2016-01-11
Target Consolidated Aviation Services
Sector Transportation
Buyer(s) Worldwide Flight Services
Sellers(s) ICV Capital Partners
Prospect Capital Management
Deal Type Add-on Acquisition

Target

Consolidated Aviation Services

Jamaica, New York, United States
Consolidated Aviation Services is a provider of an import and export cargo handling services. Cargo Airport Services coordinates the process of transferring and releasing cargo between air carriers and ground transportation providers at major airports.

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Buyer(S) 1

Buyer

Worldwide Flight Services

Roissy, France
Category Company
Founded 1984
Sector Airlines
Employees6,200
DESCRIPTION

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.

DEAL STATS #
Overall 2 of 2
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-06 Fraport Cargo Services

Frankfurt am Main, Germany

Fraport Cargo Services has been the largest provider of independent cargo handling services at Frankfurt Airport, Europe’s joint largest cargo airport alongside Paris CDG. Frankfurt Cargo Services GmbH has been known as one of the first choices for airfreight handling from and to Frankfurt.

Buy -

Seller(S) 2

SELLER

ICV Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.

DEAL STATS #
Overall 11 of 15
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 5 of 6
State (New York) 1 of 2
Country (United States) 11 of 15
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Stauber Performance Ingredients

Fullerton, California, United States

Stauber Performance Ingredients, Inc. is a distributor of specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet care industries.

Sell $157M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 Mallet

Carnegie, Pennsylvania, United States

Mallet & Co., Inc. is a manufacturer of proprietary oils, ingredients and equipment to the commercial baking industry. Mallet manufactures technically advanced solutions that are critical to the successful operation of high volume commercial bakery lines.

Sell -
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 35 of 48
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 12 of 17
State (New York) 2 of 2
Country (United States) 35 of 47
Year (2016) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Stauber Performance Ingredients

Fullerton, California, United States

Stauber Performance Ingredients, Inc. is a distributor of specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet care industries.

Sell $157M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Evanta

Portland, Oregon, United States

Evanta Inc. is a provider of immersive leadership development programs for high-potential executives also in partnership with MIT Sloan School of Management, University of Texas McCombs School of Business, University of Chicago Booth School of Business and UC Berkeley Haas School of Business.

Sell $275M
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