Dechert Helms Worldwide Flight Services’ U.S. Cargo Expansion

Dechert said it advised Worldwide Flight Services, a Paris-headquartered portfolio company of Cerberus Capital Management, on its acquisition of Fort Worth, Texas-based Pinnacle Logistics.

IAS Logistics DFW LLC, which does business as Pinnacle Logistics, provides cargo-handling services for the U.S. aviation market, focusing on specialist express cargo handling for e-commerce customers, according to a statement.

New York-based Cerberus acquired Worldwide Flight Services from Platinum Equity in 2018, calling it “the world’s largest” air cargo handler and one of the leading providers of ground handling and technical services. In 2018, the cargo company said it had operations in 198 countries, with about $1.4 billion of total revenues.

No financial details were disclosed for the acquisition. Worldwide Flight Services said Pinnacle will expand its cargo-handling platform in the United States.

“The acquisition of Pinnacle Logistics enhances our core cargo and express cargo handling value proposition to customers, and Pinnacle’s established trucking logistics business further expands our service offering,” said Michael Simpson, executive vice president, Americas, at Worldwide Flight Services.