As originally reported on The Wall Street Journal, the air cargo handler Worldwide Flight Services (WFS) announced Monday that it will acquire Consolidated Aviation Services (CAS). The planned deal will expand WFS operations in the U.S.
WFS is based in Paris, and was purchased by a California private equity firm, Platinum Equity back in October. Platinum Equity stated that the firm plans to back a global growth strategy for WFS.
Financial terms of the CAS acquisition, which will face antitrust review by regulators in the U.S., were not disclosed.
Privately-held CAS claims to be the largest handler of cargo at airports in the U.S., with about 4,000 employees and operations in 50 airports, three in South America and the rest in the U.S. WFS has cargo handling and other airline services at 145 airports around the world.
Platinum Equity began its expansion strategy at WFS with a majority stake last November in Fraport Cargo Services, the ground handling division of Fraport AG, which manages Germany’s Frankfurt Airport and several other airports in different countries.