Announcement: Marquard & Bahls sells Skytanking
The Corona crisis has plunged the aviation industry into its most severe crisis to date and further accelerated the ongoing consolidation process in the industry. Against this backdrop, Marquard & Bahls has decided to find a strategic partner that can better support Skytanking in pursuing its strategy to remain competitive in an ever-changing market environment.
On December 30, 2020, Marquard & Bahls AG signed an agreement with PrimeFlight Aviation Services, Inc. for the sale of its 100% stake in Skytanking Holding GmbH. The transaction is subject to standard regulatory approvals. The purchase price consists of cash and shares in PrimeFlight. As a result, Marquard & Bahls will hold a minority stake in PrimeFlight and indirectly participate in Skytanking after the closing of the transaction.
PrimeFlight provides numerous airline services, including into-plane fueling, ground handling, de-icing, cargo support, general aviation services, and other critical passenger support services. Importantly, PrimeFlight shares the Skytanking management team’s goal to expand into new locations and to increase service offerings at existing stations. The combined company will be one of the industry’s largest, providing aviation support services at over 200 locations around the world.
The company will continue to operate under the Skytanking brand and under the leadership of the current management team at all existing locations. All commitments to customers will remain in place.
Marquard & Bahls AG is an agile, independent holding company in the energy & chemical sector. Its core lines of business include tank storage logistics, trading and aviation fuelling. Through its subsidiaries, Marquard & Bahls has a presence in 33 countries in Europe, America, Asia and Africa and employs around 6,700 people. www.marquard-bahls.com
Skytanking provides a full range of aviation fuelling services including building, owning and operating aviation fuel storage and hydrant facilities, and providing into-plane services to airlines, airports and oil companies. Skytanking handles 24.7 million cbm of aviation fuel per year, refuelling 2 million aircraft at 82 airports in 14 countries in Europe, Asia, Africa, North America, and Australia. www.skytanking.com
PrimeFlight provides a wide range of aircraft, passenger and security services to airlines and airports. The company is headquartered in Sugar Land, Texas, and operates at 136 airports in North America. PrimeFlight is a portfolio company of the Carlyle Group. The Carlyle Group is one of the largest, most diversified asset management firms in the world, managing 299 investment vehicles that invest across four segments, ten core industries, and six continents. Carlyle companies have deep roots in the business and commercial aviation industries and invest in growth companies with dedicated employees, solid management, and a history of success. www.primeflight.com