Agility, supply chain services, infrastructure and innovation company, announced that the company has finalized the acquisition of UK-based John Menzies PLC. The boards of Agility and Menzies on March 30 2022 reached a positive conclusion on Agility’s cash offer to acquire 100% of Menzies’s ordinary shares, which traded on the London Stock Exchange, for 608 pence a share. Agility has made a decision to combine the business with its National Aviation Services (NAS) business.
“Menzies and NAS will create the world leader in aviation services,” said Hassan El-Houry, Chairman of the combined Agility and Menzies Company, having previously held the role of NAS CEO. “We will have the scale and resources to expand and grow as the industry recovers from the COVID-19 pandemic. Commercial aviation is a key engine of global economic growth, and our customers need partners they can count on as flight volumes return.”
Agility has announced the decision to combine the business with its National Aviation Services (NAS) business with an aim to create a world leader in aviation services in 58 countries. The deal puts a value of approximately £571 million on Menzies on a fully diluted basis and approximately £763 million 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 the number of countries and the second largest by the number of airports served.