FORT WORTH, Tex., Aug. 24 /PRNewswire/ -- Worldwide Flight Services, one
of the world's largest providers of ground services to the aviation industry,
announced today its second acquisition within two weeks -- Aerolink
International, Inc., of Pittsburgh, Pennsylvania. Terms of the transaction
were not disclosed.
Aerolink operates a cargo-warehousing business for commercial air carriers
at 11 airports in the United States and Canada. Its two largest customers are
British Airways and US Airways.
The acquisition strengthens Worldwide's position as one of the world's
largest independent providers of ground services to air cargo carriers and
passenger airlines. The company is represented in 86 airports around the
world, including 25 of the 30 busiest U.S. airports and five of the 10 busiest
airports in Europe. It will have some 10,000 employees.
On August 16, Worldwide Flight Services had announced the purchase of
Miami Aircraft Support, Inc., of Miami, Florida. MAS provides ground services
for airlines at 31 airports, including 19 where Worldwide was not previously
represented.
The acquisition of Aerolink gives Worldwide operations in four airports
where neither it nor MAS has a presence -- Pittsburgh, Buffalo, Cleveland and
Columbus. The other airports where Aerolink operates are Atlanta, Baltimore,
Charlotte, Denver, Philadelphia, Montreal and Toronto.
Worldwide Flight Services, formerly AMR Services, was acquired last March
by Castle Harlan Partners III from AMR Corp., the parent of American Airlines.
Castle Harlan Partners III is a private equity investment fund organized and
managed by Castle Harlan, Inc., the New York merchant bank.
Peter Pappas, chairman and chief executive officer of Worldwide, and
Marcel Fournier, managing director of Castle Harlan, said in joint statement:
"The acquisition of Aerolink International's cargo warehousing operations
gives Worldwide Flight Services a strong new capability that can be replicated
at many of the airports where we do business. Aerolink is a valuable
addition to our portfolio."
Castle Harlan Partners III is one of three investment funds totaling more
than $1 billion that have been organized by Castle Harlan, Inc., and that
represent major corporate and public pension funds, college endowments,
foundations and individual investors. Since its founding in 1987, the firm
has completed acquisitions exceeding $3.5 billion.
Castle Harlan's portfolio companies have included Delaware Management
Company, the Philadelphia-based money-management firm with more than $32
billion in assets under management; Truck Components, Inc., the largest
manufacturer of components for large-truck wheel-end systems; Smarte Carte,
the world's largest airport luggage cart rental company, and MAG Aerospace,
the leader in worldwide manufacture of aircraft sanitation systems.
Currently among its portfolio companies are Universal Compression, Inc., a
leading independent provider of natural gas compression equipment and
services; Commemorative Brands, Inc., one of the leading manufacturers of
class rings and other specialty jewelry under the ArtCarved and Balfour brand
names, and the Verdugt B. V. group of acid salts businesses, based in the
Netherlands. Verdugt was acquired from BP Amoco in April.
Castle Harlan was founded by John K. Castle, a pioneer in
institutionalizing private equity investing through limited partnerships and
the former president and chief executive officer of Donaldson, Lufkin &
Jenrette, the investment banking firm, and by Leonard M. Harlan, founder and
former owner and chairman of The Harlan Company, a diversified real estate and
corporate finance advisory firm.
SOURCE Worldwide Flight Services
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800-758-5804, ext. 132179
CONTACT:
Charles Storer, 212-571-2200, for Worldwide
Flight Services
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