Airports and airline service partner Menzies Aviation has signed a $305 million agreement to acquire US-based aviation services company G2.
Once the deal is complete, Menzies Aviation will operate in over 340 airports across 65 countries with a global team of 65,000 people.
The deal is expected to boost Menzies' group revenue by 20% to over $3.1bn, based on revenue figures from last year.
"This acquisition is a key milestone in our longer-term value creation strategy,” said John Redmond, executive vice president Americas at Menzies Aviation. “This deal enhances our presence in the US – the largest and most dynamic aviation market worldwide, and we look forward to working with the G2 team to realise the potential for growth.”
The agreement, which involves the acquisition of the entire G2 business, will expand on Menzies' service offering for airline customers with nearly 20,000 employees working across more than 100 airports across the US.
The transaction to purchase G2 is subject to regulatory approvals and is expected to complete in June of this year.