World Fuel Services has signed a definitive agreement to acquire US based Ascent Aviation Group, a distributor of aviation fuel and deicing fluids.
Ascent supplies aviation fuel and deicing fluid to more than 450 airports and fixed base operators throughout North America.
The transaction, which is expected to be $0.03 to $0.05 accretive to earnings in the first twelve months, is subject to customary closing conditions and is expected to be completed within 30 days.
World Fuel Services president and chief operating officer Michael Kasbar said that combined with the recent acquisitions of Western Petroleum and the Hiller Group, this acquisition further expands the company’s general aviation business and enhances its product offering to include deicing fluids.
Ascent is a reseller of aviation fuel for ConocoPhillips and is the exclusive third-party distributor of deicing fluids for Dow in the US.