CVC DIF has agreed to acquire HiSERV, the German market leader in aviation ground service equipment (GSE) leasing, from AVECO Holding
The investment in HiSERV will be made through CIF III, CVC DIF’s latest value add infrastructure fund. CVC DIF itself is the infrastructure element of global private markets manager CVC.
HiSERV operates in GSE leasing and maintenance and repair services through its network of workshops across European airports. It serves a blue-chip customer base of independent ground handlers, airlines and airport operators. The company owns and services a fleet of over 5,000 units, varying from motorised pushback tractors and belt loaders to non-motorised dollies and baggage carts. HiSERV is headquartered in Berlin, Germany, and serves over 60 customers across more than 30 European airports.
CVC DIF will acquire HiSERV from AVECO Holding, a German family holding predominantly active in facility services. In 2017, the current CEO of HiSERV, Roland Ückert, spun HiSERV out of WISAG Aviation Service, a leading multinational ground handler and airport service provider, with a view to establishing a superior GSE leasing offering to the broader market.
The company has shown significant growth on the back of strong post-Covid aviation sector recovery and a focus on delivering high-quality equipment and services to its customers.
“HiSERV has been revolutionising the GSE leasing market since 2017 by delivering premium quality at fair and transparent prices. I am thankful for the support provided by AVECO Holding in building up the company over the years and am very excited about the next chapter of growth with CVC DIF, where we can continue to enable to serve our customers to be competitive in ground handling on a pan-European level.
“There are significant growth opportunities for HiSERV ahead and we are keen to be supported by CVC DIF in the next phase,” said Ückert.
The transaction is subject to customary regulatory approvals and expected to close in Q3 2024.
