Fernweh Group LLC and its affiliates announce that Fernweh has completed the acquisition of Dabico Airport Solutions, the airports business of Switzerland-based Cavotec SA. The acquisition represents Fernweh’s investment in the aerospace/aviation industry as a part of its overall strategy to build a global ground support equipment franchise.
With its heritage dating back to 1955, Dabico is a leading global player in the airport ground support equipment industry and offers a comprehensive range of products for both the civil and military sectors – from contact gates, remote aprons, hangarage, 400Hz and 28V DC ground power units to pre-conditioned air systems, wet services, fuel systems (combined either with passenger boarding bridges or in-ground pits), and tunnel systems. With extensive experience and technological expertise, Dabico enables airports and customers to maximize safety, availability, efficiency, and environmental sustainability. Based in the United States, Dabico is globally focused and has operations spanning North America, Europe, Middle East, and Asia.
“We are pleased to complete the acquisition of Dabico. The acquisition is an integral part of Fernweh’s investment thesis in the civil aviation industry and will be a strategic platform on which to build a major airport ground support equipment franchise. I would also like to take this opportunity to thank the respective teams at Cavotec and Dabico that have worked tirelessly over the past five months to complete a complicated, multi-jurisdictional carve-out,” said Nick Santhanam, CEO of Fernweh.
Shekhar Varanasi, COO of Fernweh, said, “We are delighted to make this investment, and I look forward to working with Juergen and the team at Dabico to continue to strengthen the business. We have been impressed by the quality of the management team and, more importantly, the dedication of the people at Dabico. Like my colleagues, I see significant opportunities to grow the business and am enthused about the future of the company.”
“The Dabico team and I are excited to partner with Fernweh in this next chapter for Dabico as a standalone company. With renewed focus and a mission to improve safety, environmental sustainability, and productivity to the aviation industry, we look forward to building Dabico into the leading solutions provider of choice for the airports across the globe. As a longstanding member of the Cavotec team, I wish my colleagues well and continued success,” said Juergen Strommer, CEO of Dabico.
White & Case LLP served as Fernweh’s legal advisor. Deloitte provided financial/transaction services, and BDO advised on tax issues.