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World Fuel Services Closes USD 170m Acquisition of Universal Weather/Aviation´s UVair Fuel Business
Thursday 05 March 2020

5 March 2020 - A wholly owned subsidiary of Miami, US-based energy management company World Fuel Services Corp. (NYSE: INT) has closed the acquisition of the fuel business of Texas, US-based Universal Weather and Aviation, Inc. for approximately USD 170m, the company said.

A portion of the transaction, payable over three years, will be funded through cash-on-hand and liquidity available through the company's existing unsecured credit facility.

While Universal will maintain its international trip planning services business, the agreement to purchase the UVair fuel business also includes an agreement for Universal to work exclusively with World Fuel to provide fuel supply to their customers.

In the first 12 months, the transaction is expected to be USD 0.14 to USD 0.17 accretive to earnings per share on a GAAP basis and non-GAAP accretion, which excludes the impact of one-time acquisition-related expenses, is expected to be USD 0.16 to USD 0.19 per share.

World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries.

World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.

UVair serves business and general aviation customers at more than 5,000 locations worldwide.
Date Published: 05/03/2020
Target: Universal Weather and Aviation/fuel business
Country: USA
Deal Size: 170m (USD)
Sector: Air Transport
Type: LBO
Financing: Cash
Status: Closed
Vendor: Universal Weather and Aviation
Buyer: World Fuel Services Corp