Aviation company Menzies has completed the £5m acquisition of regional firm Flight Support from Airbase Holdings Limited – adding three UK airports to its ground handling portfolio.
The deal by the Edinburgh-based firm sees Aberdeen airport move across to its network.
It will also see the Isle of Man and Guernsey airports taken up. Additionally, its existing presence in Manchester airport will be increased.
The existing relationships the firm has with Aer Arran, easyJet, Flybe and Loganair will also be significantly strengthened in the deal.
New customers, in the form of Blue Island and CityJet, will also be brought in.
The news will not be seen as entirely surprising, as there are many firms throughout Scotland taking advantage of the economic situation to acquire other companies. Many of these are completing deals with outside investment, while others are successfully seeking invoice factoring facilities from Scottish companies.
The acquisition sees Menzies take control of Flight Support, presently responsible for the turnaround of 34,000 aircraft a year. Worth a total of £5.25m, the deal will see £4.75m being paid immediately – with the further £500,000 to follow in instalments over the next 24 months.
Many may see the strengthening of its Manchester position as a surprise, coming so swiftly on the back of the group ending its cargo operations here.
However, in reality, it is a continuance in a change of strategy by the firm.
The company said earlier in 2012 that cargo operations will be Heathrow-centric from now on, to return the division to profit.
