Business services
France FR
Switzerland CH

Scope of intervention

Sycomore Corporate Finance acted as advisor to Swissport

Date of closing

August 2013
Swissport, the world’s #1 provider of ground and cargo handling services to airlines owned by PAI Partners, has agreed to acquire the #3 global player in ramp and passenger handling, Servisair from Derichebourg (Euronext: DBG).

The acquisition is an essential part of Swissport ́s growth strategy. Its customers will benefit from the enlarged global network, the increased portfolio of value-added services, the combined operational excellence and the consistent service quality worldwide.

Swissport intends to take advantage of Servisair’s complementary service offering as well as its diversified client basis. In addition, the two companies expect to leverage cost synergies through efficiency gains at overlapping airports.

To finance this acquisition, Swissport has issued a €390m senior secured add-on note.

Before this acquisition, Swissport completed several transactions including the acquisition of Costa Rican Interairport Services in April 2013 as well as the acquisition of Flightcare Spain and Belgium from FCC Versia in September 2012.

Derichebourg indicated that it was seeking to dispose of Servisair in order to lower its debt. The Company announced that the transaction will reduce its debt by €330m, reflecting half of Derichebourg’s net debt position.


  • Enable Swissport to continue to improve its worldwide service offering to customers
  • Harness the complementarity of Swissport and Servisar product ranges and client portfolios

Servisair at a glance

Founded in 1954, Servisair is a leading global provider of aviation ground services delivering an integrated range of handling solutions. Servisair´s global business currently provides ground services for around 106 million passengers and 645,000 tonnes of cargo a year on behalf of some 500 client-companies in the aviation sector. Servisair employs around 15,000 staff and is active at 118 locations in 20 countries on 4 continents.

Swissport at a glance

Founded in 1996, Swissport is a global provider of ground and cargo handling services in the aviation industry. The Company provides services to around 118 million passengers and handling 4.0 million tonnes of cargo a year on behalf of some 650 client-companies in the aviation sector. With a workforce of around 55,000 employees, Swissport is active at 255 stations in 44 countries across 5 continents.

Derichebourg at a glance

Founded in 2006, The Derichebourg Group (Euronext: DBG) is a major international player in the provision of services to businesses and municipalities. It offers a comprehensive and integrated range of services in 2 complementary business areas: environmental services (recycling, recovery, collection of household waste, urban cleaning, management of waste reception centers, etc.) and services to businesses (cleaning, energy, interim employment, aeronautics services, sensitive sector services, etc.). The Group operates in 14 countries, on three continents, and has 34,000 employees around the world.