Menzies Aviation to acquire G2
Image courtesy Menzies Aviation
Once the deal is completed, Menzies will operate in over 340 airports in 65 countries with a global team of 65,000 highly trained people. The deal is expected to boost Menzies' group revenue by 20% to over $3.1 billion, based on FY 2024 revenue figures.
This deal strengthens Menzies' position as the largest aviation services business globally, by countries, airports and aircraft turns.
John Redmond, Executive Vice President Americas, Menzies Aviation, said: "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.
"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."
Menzies first entered the US market in 2000 and is currently an industry leader providing safe and high-quality ground, air cargo and fuel services. Established in 2005, G2 has a strong growth history within the US, with a focus on providing passenger assistance, cabin cleaning and ground and air cargo handling at airports across the country, including major airline hubs. G2's services complement and expand Menzies' current service offering to customers.
This agreement, which involves the acquisition of the entire G2 business which will rebrand as Menzies, 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 2025.
Julie Gostic, Chief Executive Officer, G2, said: "We're proud to be joining Menzies Aviation, the global leader in aviation services, and entering an exciting new era of growth. I look forward to building on our reputation for consistency and high-quality standards while also maintaining a close relationship with our customers, who can expect to see the same level of premium service. G2 customers and our employees will benefit from Menzies' experience in setting global standards for service, safety and sustainability. We look forward to entering this exciting new era with Menzies."
