At what enterprise value was SWIFTAIR GROUP acquired in 2025?

During the acquisition of SWIFTAIR GROUP by ANTIN INFRASTRUCTURE in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SWIFTAIR GROUP when it was acquired by ANTIN INFRASTRUCTURE?

The estimated EV/EBITDA multiple for SWIFTAIR GROUP is in the range of 5x - 12x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

When was SWIFTAIR GROUP acquired by ANTIN INFRASTRUCTURE?

SWIFTAIR GROUP was acquired by ANTIN INFRASTRUCTURE in 2025.

What was the revenue of SWIFTAIR GROUP at the time of the deal?

The revenue of SWIFTAIR GROUP at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of SWIFTAIR GROUP during the acquisition?

SWIFTAIR GROUP's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the SWIFTAIR GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SWIFTAIR GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.antin-ip.com/media/our-news/swiftair-european-leader-in-outsourced-express-airfreight-welcomes-antin-to-accelerate-its-growth

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Home Database Business ServicesSWIFTAIR GROUP

10/2025

SWIFTAIR GROUP acquired by ANTIN INFRASTRUCTURE

SPAIN Transport & Logistics / Freight Transport / Air Freight EV 300M - 700M EUR

Context

Antin Infrastructure Partners has entered into a definitive agreement to acquire a majority stake (exceeding 70%) in Swiftair Group. The founder, Salvador Moreno, will retain a significant minority stake and continue as CEO to lead the next phase of growth. This investment represents the seventh transaction for Antin’s €2.2 billion Mid Cap Fund I. The strategic rationale focuses on capitalizing on the structural growth of the express airfreight market, fueled by e-commerce and critical logistics demand. Antin intends to support Swiftair in modernizing its fleet and pursuing further market consolidation, following the company’s previous successful acquisitions of Cygnus Air and West Atlantic. The partnership aims to optimize Swiftair’s intra-European routes while opportunistically exploring high-growth markets to meet the global needs of its Tier-1 integrator client base. The deal was supported by financial advisors Deutsche Bank and BBVA for the buyer, and Morgan Stanley for the seller.

SWIFTAIR GROUP, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Business Services market trends

Target

Swiftair is a leading European provider of dedicated airfreight capacity and ACMI (Aircraft, Crew, Maintenance, and Insurance) services, headquartered in Madrid. The organization operates a versatile fleet of 71 aircraft (including Boeing 737/757 and Airbus 321) across 77 routes in over 45 countries. Its business model focuses on providing mission-critical outsourced transportation for "blue-chip" global integrators like DHL, FedEx, and UPS, as well as national postal operators such as La Poste and Royal Mail. With a workforce of 1,350 employees, the company manages its own state-of-the-art hangar at Madrid-Barajas airport and a network of 38 maintenance centers. Swiftair specializes in time-sensitive cargo, including pharmaceutical and food products, benefiting from high barriers to entry due to its deeply integrated regional networks and long-standing client relationships.

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Similar deals in Business Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
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REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SWIFTAIR GROUP by ANTIN INFRASTRUCTURE are reserved for mynth community members. Register for free to unlock full data.

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).

Press release: view release

Acquirer: antin infrastructure