Portfolio
World Freight Company International
| Investment type | Growth Capital |
|---|---|
| Region | France |
| Status | Current investment |
Nature of Business
Established in 2004, World Freight Company International (“WFCI”) is the world’s largest General Sales and Services Agent (“GSSA”). It is an asset-lite logistics player, providing services which allow airlines to outsource the management of their freight operations (sales, booking, import / handling coordination, claims / account administration). Through its three brands (Air Logistics, ATC and Kales), it employs 550 employees, in 75 locations across six continents and represents c230 airlines serving more than 12,000 clients and arranging the transportation of more than 600,000 tons of airfreight per year.
WFCI has experienced a huge growth over the past five years thanks to an active buy and build strategy. It is the leader in its key markets including Germany, the Netherlands and the Nordics.
Investment Overview
We invested €25m in WFCI alongside existing financial shareholders in April 2011 for a minority stake. The funds have largely been used to fund the acquisition of a rival outsourcing business in the Netherlands doubling the size of WFCI.
With three 3i executives joining the Board, we will be looking to support management in strengthening international presence, particularly in South America and Asia through our international network and using our global footprint to gain market share from smaller competitors with limited international coverage.
We will actively support the buy and build strategy to consolidate WFCI’s position as the world’s leading GSSA.
We are also working closely with senior management through our Active Partnership approach, focusing on enhancing margins through operational leverage, productivity improvements, supporting banking requirements and any further M&A activity.