…
deSter Holding BV, a subsidiary of gategroup, has reached agreement to acquire Helios Market, Product and Production Development BV, an innovative and respected global provider of onboard products and services for the airline, rail and hospitality industries. Helios’ products and services are highly complementary with those of deSter and Harmony.
The addition of Helios will expand the ability of the combined companies to bring innovative approaches to new customers and geographies and will provide synergies in marketing, manufacturing and supply chain solutions.
Helios’ revenue for 2011 is above CHF 70 million with an EBITDA margin above gategroup’s and a strong return on invested capital based on Helios’ unaudited financial statements. With Helios, deSter’s and Harmony’s combined annual revenue will exceed CHF 250 million.
The transaction is subject to customary closing conditions and approvals, including clearance by competition authorities if required. The purchase price is approximately CHF 27 million, which will be funded in part from cash and a debt facility.
“This transaction, which is accretive to gategroup, fully supports our business model of a comprehensive and integrated service offering,” said gategroup CEO Andrew Gibson. “With this acquisition, we will leverage Helios’ reputation for customer focus, flexibility and speed to market with the marketing, production and supply chain strength of our industry-leading brands deSter and Harmony to create truly world-class offerings.”
Helios enjoys a reputation for innovative, customer-focused design and counts among its clients some of the world’s largest airlines as well as those in rapidly growing regions and the low-cost carrier sector. Its product lines include disposable and re-usable onboard equipment, plastic, metal, china and glass service ware and passenger amenity kits. The company, which is based in Amsterdam, operates an asset-light business model with manufacturing outsourced, but with control of all supply chain logistics.
Jons Hensel, Chairman of Helios, said, “Being reunited with deSter and Harmony within gategroup is like coming home. Everyone at Helios looks forward to taking our collective innovation, delivery and customer service capabilities to the next level.” Hensel was instrumental to the development of deSter in an earlier form. Approximately 15 years ago, Hensel and partners founded Helios as an independent company.
“We are extremely excited to have Jons and his team join the company and accelerate the growth of deSter and Harmony in the coming years,” Gibson said.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
![[PR] PR_Ascott and Vimut Hospital_2024](https://www.traveldailynews.asia/wp-content/uploads/2024/04/PR-PR_Ascott-and-Vimut-Hospital_2024-400x265.jpg)
