Total Airport Services Sells Majority Ownership

By: Total Airport Services, Inc.
 
PHOENIX - Oct. 2, 2015 - PRLog -- Total Airport Services, Inc., or TAS, a leading U.S. aviation service corporation, today announced the selling of 70 percent of its ownership to an affiliate of CCR S.A., one of the largest infrastructure concession companies in the world.

“The main purpose of this partnership is to make TAS the leading aviation service provider in North America and beyond,” explained Jack Evans, TAS CEO. “Not only will we be able to offer the full complement of aviation services, but we’re now in a position to also develop and build the infrastructure. We’re giving people a true one-stop-shop experience.”

Brazilian company CCR S.A. maintains interests in a wide array of transportation-related systems, including toll-road concessions, urban mobility, airport operations related ancillary service companies. CCR S.A. currently owns and manages, directly or through affiliates, a number of airports throughout Latin America, and its current market capitalization is estimated at $5 billion USD.

According to the agreement, Evans will retain 30 percent ownership in TAS and remain President and CEO. Denny Eichenbaum, the company’s co-owner, also will maintain a critical position within the TAS organization as a business development resource. The company’s acquisition will neither influence nor alter its current duties or obligations to its clients, and all existing agreements remain in effect.

Contact
Amber Bryan
***@tasinc.aero
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Tags:Airline, Aviation, Partnership
Industry:Deals
Location:Phoenix - Arizona - United States
Subject:Partnerships
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