Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised CVC DIF, the infrastructure strategy of leading global private markets manager CVC, on the acquisitions of CTC Moyson Airport Equipment (‘CTC Moyson’) from the Moyson family and S-P-S International (‘SPS’) from Strikwerda Investments and management. The investments in SPS and CTC Moyson will be made through CIF III, CVC DIF’s latest Value Add infrastructure fund.
SPS International is based in the Netherlands and provides leasing and maintenance services primarily at Schiphol airport. The company focuses on design, manufacturing, maintenance and leasing of non-motorised GSE. CTC Moyson is a full-service GSE lessor with a strong presence in Belgium. The company services its loyal customers with leasing and maintenance, predominantly in motorised GSE, through three workshops at key Belgian airports.
By the acquisition, CVC DIF complements its purchase of HiSERV, the leading German provider of aviation ground service equipment (GSE) rental and workshop services, which Freshfields had also advised on earlier this year. Combining SPS, CTC Moyson and HiSERV will create one of the largest GSE leasing and service providers in Europe. With nearly 12,000 GSE units at 30 airports, the combination delivers a full-scale product and services offering. The platform will be branded HiSERV and led by CEO Roland Ueckert. Current CEOs Paul Schmitz of SPS and Tom Moyson of CTC Moyson will reinvest and continue as part of the leadership team.
The Freshfields Amsterdam team was led by Partner Menno Verboom and also included Principal Associate Jordi Wals, Senior Associate Emelde Rubaij Bouman, Associates Anne Zwolsman, Tijn Mandema, Nina van Driel and Claire Vossen (all Corporate/M&A). Partner Paul van den Berg, Senior Associate Max Immerzeel and Associate Veerle Peters were advising on anti-trust matters. Partner Brechje Nollen and Associate Julia van Heusden supported on Employment matters. Tax advice was provided by Partner Eelco van der Stok and Senior Associate Daan van Schaik.
The Freshfields Brussels team was led by Partner Frederic Elens and also included Principal Associate Elliott Fosséprez, Associate Sahra Benrabah, Principal Associate Florence Goffin and Associate Guillaume Nelis (all Corporate/M&A). Counsel Nikolaas van Robbroeck and Associate Maxim Wuyts advised on tax matters. Partner Satya Staes Polet, Principal Associate Brunhilde van den Haute and Associate Raphaël Narinx provided advice on employment matters.
Freshfields also advised CVC DIF on the acquisition financing for the purchase of CTC Moyson and SPS, having previously advised on the acquisition financing for the purchase of HiSERV. The financing was led by Partner Jenny McIvor and Counsel Joseph Biesterfield (both London), and Partners Andreas Ruthemeyer (Frankfurt) and Mandeep Lotay (Amsterdam).
