AVIAPARTNER LIÈGE acquired by SAL SAUDI LOGISTICS SERVICES
Context
Saudi Logistics Services Company (SAL) entered into a conditional agreement to acquire the entire share capital of Aviapartner Liège SA from its parent companies, Aviapartner Belgium NV and Aviapartner Holding NV. This transaction represents a key strategic step in SAL's international expansion and its ambition to build a global logistics platform. By acquiring a well-established cargo handling operation at Liege Airport, one of Europe's busiest and most important air cargo hubs, SAL gains a significant operational foothold in the European market. The acquisition is intended to enhance SAL's global service network, enabling it to offer integrated logistics solutions and create synergies for its airline partners and customers by connecting them to major global trade corridors. Management stated the move reflects SAL's strategy to diversify revenue streams and strengthen its integrated operating model. This expansion aligns with Saudi Arabia's national objective to become a global logistics hub, as outlined in the National Transport and Logistics Strategy and Saudi Vision 2030. The deal ensures operational continuity, with the entire local workforce being retained by the new owner. The completion of the transaction remains subject to customary closing conditions and obtaining the necessary regulatory approvals.
AVIAPARTNER LIÈGE, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).
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Target
Aviapartner Liège SA is the dedicated air cargo handling division of the Aviapartner group operating at Liege Airport, one of Europe's premier cargo hubs. The company provides a comprehensive suite of ground and cargo handling services essential for the air freight logistics chain. Its core operations include the loading and unloading of cargo aircraft, management of unit load devices (ULDs), and the physical handling of freight within its warehouse facilities. The company is responsible for the build-up and break-down of cargo pallets and containers, ensuring that goods are properly prepared for air transport or sorted for onward distribution upon arrival. Aviapartner Liège also manages crucial ancillary services such as cargo security screening, customs documentation processing, and specialized handling for temperature-sensitive goods like pharmaceuticals and perishables, as well as dangerous goods and oversized items. With a significant workforce, the company plays a vital role in maintaining the operational efficiency and flow of goods through Liege Airport, serving a diverse client base of international cargo airlines and freight forwarders that rely on the hub's strategic location and 24/7 operational capabilities.
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REFERENCES
Valuation range: EV 10M - 30M EUR
Revenue range: 10M - 30M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: aviapartner liège
Acquirer: sal saudi logistics services