Menzies Aviation, an Agility Global company, has signed a $305m agreement to acquire the US aviation services provider G2.
The transaction to purchase G2 is subject to regulatory approvals and is expected to complete in June this year.
The deal is expected to boost Menzies’ group revenue by 20% to over $3.1bn, based on 2024 financial year revenue figures, while extending its range of operation to over 340 airports in 65 countries.
G2 has a presence in more than 85 US airports and serves nearly every major US airline as well as many international carriers. The deal will therefore strengthen Menzies’ position as “the largest aviation services business globally, by countries, airports and aircraft turns”, it said.
John Redmond, executive vice president Americas at Menzies Aviation, remarked: “This acquisition is a key milestone in our longer-term value creation strategy.
“We are already the global industry leader in terms of countries, airports and aircraft turns and this transaction will expand our footprint to 340 airports worldwide.”
In particular, Redmond noted: “This deal enhances our presence in the United States – the largest and most dynamic aviation market worldwide, and we look forward to working with the G2 team to realise the potential for growth.
“We are confident in the resilience and strength of the US economy and aviation market, where we have been a key player for 25 years.”
US footprint
Menzies first entered the US market in 2000 and today offers ground, air cargo and fuel provision services in the country.
Established in 2005, G2 provides a range of cargo services that currently include: import and export cargo handling; freight/mail handling services; cargo security screening; Customs Automated Manifest System (AMS) clearance; and specialised cargo services such as dangerous goods, live animals, pharmaceuticals and perishables handling.
It offers passenger assistance, cabin cleaning and ground as well as air cargo handling at airports across the US, including major airline hubs.
“G2’s services complement and expand Menzies’ current service offering to customers,” the latter pointed out.
G2 will rebrand as Menzies, and the business expects to roll out its “training and safety-first culture, sustainability practices and innovative technology across its new airports of operation”.
Julie Gostic, chief executive at G2, said that the business would be “entering an exciting new era of growth” and that he looked forward to building on G2’s reputation for consistency and high-quality standards while also maintaining a close relationship with its customers, “who can expect to see the same level of premium service”.
