Kuwait's Agility finalises acquisition of UK aviation services group John Menzies

Kuwait’s Agility, one of the largest Gulf logistics companies, said on Thursday it has finalised its GBP763m ($924.37m) acquisition of British aviation services company John Menzies. Agility said it will combine the acquisition with its National Aviations Services (NAS) and the deal values Menzies at approximately GBP571m on a fully diluted basis and about GBP763m on an enterprise value basis. “Once integrated, the combined company will operate as Menzies Aviation and will be the world’s largest aviation services company by number of countries and second largest by number of airports served,” Agility said. The combined revenue of NAS and Menzies topped $1.5b last year. The new combined entity will provide air cargo services, fuel services and ground services at 254 airports in 58 countries. Hassan El-Houry, previously CE at NAS, becomes Menzies Aviation’s chairman and Menzies Aviation CEO Philipp Joeinig will be CEO of the combined entity.<br/>