Brookfield acquires GSSA giant World Freight Company

Dhaka: Brookfield Asset Management has acquired World Freight Company (WFC), one of the world's largest general sales and service agent (GSSA) groups, in a deal reportedly worth USD 1.2 billion.

PAI Partners and BPEA Private Equity Fund VI, managed by EQT, announced the transaction. It remains subject to customary closing conditions and is expected to close by the end of 2026.

Founded in 2004, WFC owns around 25 brands, including Air Logistics Group, ATC, Kales, Wexco, and HAE. Collectively, its companies serve more than 300 airlines across 3,500 trade lanes and over 16,000 freight forwarders in more than 80 countries.

Brookfield said it plans to invest in technology and aims to benefit from further industry consolidation.

Alex Yang, Managing Partner and Head of East Asia for Brookfield’s Private Equity Group, said, "World Freight Company is a high-quality platform operating in a critical segment of the resilient global airfreight ecosystem, supported by long-standing customer relationships."

"With its global scale, local capabilities, and leading market position, WFC is well positioned to benefit from industry consolidation. We look forward to supporting the business by investing behind technology and strengthening commercial execution," he added.

WFC has changed hands several times. Greenbriar Equity Group acquired it in 2015. PAI and Baring Private Equity Asia, which later merged into EQT, purchased it in 2018 for a reported EUR 600 million. Under PAI and EQT's ownership, WFC completed 20 acquisitions, expanding its global footprint.