In September 2011, Next Capital backed incumbent management in the buyout of Aero-Care, Australia’s largest independent provider of outsourced airport flight support services, including customer service, check-in, baggage handling, ramp handling and ancillary services (www.aerocare.com.au). It services major domestic and international airlines at numerous ports across Australia, typically under long term contracts.
Investment highlights included:
- Exposure to long term market growth in aircraft movements, passenger numbers
- Growing outsourcing trend, particularly for non-core functions
- A track record of strong growth whilst maintaining high customer service levels at industry leading levels of productivity
Next Capital worked closely with the management team to create value by:
- Successfully growing share by port and by customer
- Focused on port economies of scale
- Built critical mass for international work in major ports
- Developed whole fo ground handling solutions to provide transformational change in customer’s cost abse
- Acquired SkyCare (NZ) to diversity customer and geography
- Bolstered the management team with the recruitment of a COO
Aero-Care was sold to a financial investor in July 2014.