Antin acquires Swiftair: advisors
Antin Infrastructure Partners has acquired a majority stake in Swiftair Group, a leading European provider of aircraft leasing and air transport solutions for urgent cargo. Advisors on this operation were Pérez-Llorca and EY Abogados, on Antin’s side, and CMS Albiñana, on Swiftair’s side.
Based in Madrid, Swiftair was founded in 1996 by Salvador Moreno, who has led its expansion and will remain as CEO and significant shareholder. The company is a leading provider of aircraft, crew, operations and maintenance (ACMI) for express air transport in Europe of goods such as pharmaceuticals and food products. Swiftair serves customers including delivery service companies such as DHL, FedEx and UPS, and postal and parcel operators such as Royal Mail (United Kingdom) and La Poste (France).
The company currently operates 77 routes in more than 45 countries with its fleet of 71 aircraft, most of which it owns. In addition, Swiftair owns and operates a hangar at Madrid Barajas Airport and has a network of 38 maintenance centres to serve its customers, mainly throughout Europe.
With net revenues of €342 million in 2024 and more than 1,350 employees, Swiftair has a track record of organic growth and market consolidation through acquisitions such as Cygnus Air in 2018 and West Atlantic in 2019.
Antin’s mid-cap fund will acquire a significant majority stake in Swiftair, while Moreno will retain a significant minority stake, reinvesting in the company alongside other members of the management team.
Upon closing, this investment will be the seventh for Antin’s Mid Cap Fund I, valued at €2.2 billion. Antin’s mid-cap strategy focuses on small and medium-sized investments in established infrastructure companies in Europe and North America in the energy and environment, digital, transport and social sectors.
Advisors
Pérez-Llorca has advised Antin Infrastructure Partners. In the Corporate M&A area, the team consists of partners Julio Lujambio, Pablo González Mosqueira, José Luis Romeu and Florence Legeay, together with solicitors Francisco Gómez, Ignacio Salas, Jorge González, Ana Aguirre, Fernando Quintana, Helena Guillén, Pablo Matesanz and Amin Mellouk. Isabel Moya (partner) and Eva Láuzara (solicitor) work in the Employment area. The Regulatory area is made up of Ana Cremades (partner), Alfredo Aguilera (counsel) and Jorge Romero (solicitor). Jaime de Blas (partner) is responsible for Competition, while Norma Peña is the partner in charge of Tax.
EY Abogados also provided comprehensive support to Antin throughout the transaction. The tax DD, structuring and model review team involved Sonia Díaz (Partner), Lucía de Lorenzo (Senior Manager), Hugo González (Partner), Sandra Fombuena (Director).
Swiftair was advised by CMS Albiñana as legal counsel.
