Menzies acquires ground handling business
Aviation services and newspaper distribution group John Menzies has acquired Flight Support, a UK based ground handling business, from Airbase Holdings.
Aviation services and newspaper distribution group John Menzies has acquired Flight Support, a UK based ground handling business, from Airbase Holdings.
Menzies will pay an initial cash consideration of £4.75m, with a further £0.5m payable over the next two years.
Flight Support is an independent regional UK ground handling company which handles around 34,000 turnarounds per annum.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The acquisition adds three new airports to the Scottish firm's UK ground handling network, namely Aberdeen, Isle of Man and Guernsey, and further strengthens the division's position in Manchester.
The acquisition also increases existing relationships with Flybe, easyJet, Loganair, Aer Arran and introduces new customers such as CityJet and Blue Island.
After allowing for start up costs, the purchase is set to break even in the current year and become earnings-enhancing in 2013.
The share price fell 0.95% to 624.50p by 08:29.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings