Baker McKenzie has advised the investment firm Platinum Equity in the context of the sale of Worldwide Flight Services (WFS) to Cerberus Capital Management for an amount of around €1.2 billion.
Created in 1971, WFS, whose registered office is in Paris, is the global leader in air freight services and one of the leading providers of ground handling and technical services. The Group, which operates in 22 countries and 198 airports spread over the 5 continents, has more than 22,000 employees and makes an annual turnover of more than €1.2 billion.
Platinum Equity, based in Los Angeles and present in Europe and Asia through its offices in London and Singapore, is an international investment firm created in 1995 by Tom Gores with nearly $13 billion in assets under management.
The private equity firm Cerberus Capital Management, based in New York and also present in Europe and Asia, was created in 1992 and has around $34 billion in assets under management.
The Baker McKenzie team in London was composed of David Allen, partner, with James Adams, senior associate, Victoria Legg, Anna Scott and Rose Allan, associates. In Paris, Eric Lasry, partner, as well as Solenne Gilles and Elsa Lesclide, associates, worked on the transaction.