Miami-based World Fuel Services has fully acquired the UVair Fuel Division from Universal Weather and Aviation for $170 million.
The deal makes World Fuel the exclusive contract fuel provider for Universal Weather and Aviation. Fuelling arrangements will be managed as they were previously but now with the access to World Fuel’s global fuel supply network, adding to UVair’s existing 5,000 worldwide locations.
Fixed-base operators (FBOs) will be able to use World Fuel Network’s marketing tools and World Fuel Rewards to reach a larger audience, providing customers with World Fuel Rewards, more contract fuel locations and the addition of Avcard, an aviation retail credit card, to their portfolio.
“Universal has the industry’s most comprehensive end-to-end mission management infrastructure, integrating more phases of the mission, and supporting more global trip legs, than anyone else,” added Evans. “With this new agreement, our customers will continue to benefit from having Universal seamlessly manage their trips, while at the same time enjoying the advantages of World Fuel’s global fuel supply network to better support their evolving needs.”
As well as working with World Fuel Services to provide fuel supply to customers, Universal intends to continue its international planning services. The company now aims to invest in areas that are receiving high demand in growth including FBO ground service locations, digital platforms, Trip Support Services, group transportation division and catering networks.
Universal Chairman, Greg Evans said that the company has “big plans moving forward” and that the sale will allow his company to focus on growth and expanding digital offerings.
“We are pleased to welcome the UVair team to the World Fuel Services organisation,” stated Michael J. Kasbar, Chairman and Chief Executive Officer of World Fuel Services. “This strategic acquisition will further enhance our global business and general aviation fuel platform.”