Cavotec has been acquired by Fernweh Group LLC
Arrowpoint Advisory’s Industrials team has advised Switzerland-based Cavotec SA (“Cavotec”) on the carve-out and disposal of its Airports Division to Fernweh Group, a US-based investment firm. Going forward, Cavotec Airports Division will now be known as Dabico Airports Solutions (“Dabico”).
Cavotec is a global engineering group, headquartered in Lugano, Switzerland, and listed on the Nasdaq OMX in Stockholm, Sweden. Cavotec designed and manufactured automated connection and electrification systems for ports, industrial, and airport applications worldwide before making the decision in 2021 to streamline its strategy and divest its Airports division. Going forward, Cavotec will focus solely on the growing markets for sustainability solutions in ports & maritime and wider industrial applications.
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.
Glenn Withers, Chief Financial Officer and Vanessa Tisci, Group General Counsel at Cavotec, commented: “We chose to work with Arrowpoint Advisory and Rothschild & Co due to their experience and expertise in working with companies like Cavotec and in corporate divestments more widely, and they haven’t let us down. Their market knowledge, global network, expertise and a strong team working on the deal, has proven invaluable for us in securing the best partner to take the Airports business forward and the right deal for Cavotec Group as a whole.”
Tom Smith, Director at Arrowpoint Advisory, concluded: “We are very pleased to have completed another successful corporate carve-out and assisted Cavotec in a landmark transaction for the group as it re-focuses for the future. Dabico is a high value technical manufacturer which sits at the heart of our industrials focus and expertise, we are sure that they have found the best possible home in Fernweh Group, which has a core focus on aviation and aviation services.”