Fernweh Group and Dabico Corporation Sign Agreement to Acquire FMT
CYPRESS, CA – Fernweh Group LLC and its portfolio company, Dabico Corporation, announced they have signed an agreement to acquire FMT Sweden AB and FMT International Trade AB in an all cash transaction. Fernweh and Dabico’s investment in FMT is part of its overall strategy to build a leading aviation and transportation/logistics infrastructure platform with global market coverage focused on North America and the EU.
FMT has a long-standing history as a manufacturer of passenger boarding bridges for airports and seaports as well as end-to-end care coverage of their product portfolio through extensive aftermarket parts and services offerings. A key part of FMT’s history stems from their focus on serving the EU market through their facilities and operations based in Trelleborg, southern Sweden and having installed their passenger boarding bridges at more than 85 airports and seaports across the EU market.
The acquisition of FMT by Dabico, a US-based, global aviation infrastructure player, enables Dabico to offer the broadest solutions portfolio for the airport and seaport markets. This leading portfolio covers design and engineering services, new equipment construction, turnkey solutions, comprehensive after-sales support and extension-of-life services. The combined company is well positioned to continue to service the full European market given extensive operations across the UK, Germany, and Sweden with employees and partners in several other countries in the region. Dabico will also expand upon FMT’s best-in-class product offerings for the historically underserved marine market, which will serve as a key additional growth driver for the combined company.
Nick Santhanam, CEO of Fernweh Group, noted, "Our acquisition of FMT strengthens Dabico and our global aviation and transportation/logistics infrastructure platform’s market position through broadening our product portfolio and geographic reach. Through the relationship we have built with FMT during this acquisition and in the past as a commercial partner, we are convinced that the combined company will deliver industry-leading products and services to solve our customers’ most critical infrastructure needs. Additionally, FMT’s extensive history serving the EU market reaffirms our commitment to investing in and supporting the aviation and transportation/logistics ecosystem in the region, while providing an unparalleled customer experience.”
Dabico’s acquisition of FMT was structured as a 100 percent majority acquisition with FMT’s owners receiving all cash proceeds at closing.
FMT, with Dabico and Fernweh, will co-host the 2023 Future of Infrastructure Summit (“FIS”), which brings together senior leaders from the airport and aviation sector. The summit, scheduled for May 2023, will serve as a forum to discuss and engage in a productive dialog on the current macro, (e.g., geo-political, market regulations, tech disruptions), and micro, (e.g., supply chain relocations, trade labor imbalance), trends facing the sector and how to navigate and take advantage of them.
