Cavotec Airports will be re-branded to Dabico Airport Solutions, following its upcoming divestment from the Cavotec group. With a renewed focus on growth, innovation, and service, Dabico Airport Solutions is set to expand its existing offering that enables its customers to maximise safety, availability, efficiency, and sustainability.

Cavotec announced the divestment of its Airport division to Fernweh Group in February. As a leading ground support equipment manufacturer and service provider, Dabico Airport Solutions offers a comprehensive range of state-of-the-art, turn-key systems for contact gates, remote aprons, and maintenance repair and overhaul hangars for commercial and defence applications.

Dabico now plans to showcase its full range of innovative ground support systems – and premiere three new products – at the upcoming Dubai Airport Show that kicks off on 17 May.

On February 22, 2022, Cavotec SA announced it had signed an agreement with Fernweh Group for Fernweh to acquire 100 percent of its Airports business for an approximate implied enterprise value of €16 million. Cavotec, a clean tech company that designs and delivers electrification solutions to decarbonize facilities, had determined to focus on its high-growth Ports business, and this spin-off was part of its portfolio restructuring. Airports accounted for approximately 25 percent of Cavotec’s revenue in 2020.

The Airports business engineers state-of-the-art, fully integrated systems and services for ground equipment support at airports. This includes contact gates, remote aprons, and maintenance repair and overhaul (MRO) hangars for commercial and military aircraft. The business currently serves airports in Europe, the Middle East, and Asia, as well as the US Air Force.

The acquisition is central to Fernweh’s investment thesis and will form a strategic platform on which to build a major airport ground support equipment franchise. Fernweh is optimistic about the long-term future of aviation in general and looks forward to the opportunity of partnering with Cavotec Airports’ management team to support its return to growth.

Fernweh Group CEO Nick Santhanam spoke about the future of the photonics industry at the SPIE Photonics West meeting on January 24, 2022. In his presentation, titled “Photonics—the next big thing?” Mr. Santhanam addressed the current state of the industry, its next horizon of change, and what companies might do to reposition for success.

On the current state of the laser and photonics industry, he pointed to a history of high impact and innovation. As innovation continues and new applications are developed, the industry is expected to grow at a robust pace.

Mr. Santhanam described two waves of innovation, one from 1990 to 2020 and another, the current wave, which began in 2020 in response to the proliferation of data and analytics. Wave 2, he said, is characterized by integrated photonic devices designed for customized applications to meet changing and expanding end-customer needs.

Photonics West is, according to SPIE, the largest annual photonics event. It was held in San Francisco on January 22–27, 2022. This year’s event included more than 950 exhibitors and 2,100 technical presentations. It was attended by more than 10,000 registrants from the international photonics community, including engineers, scientists, students, and business professionals.

FORT WORTH, Texas, June 23, 2022 /PRNewswire/ -- AZZ Inc. ("AZZ" or the "Company") (NYSE: AZZ), and Fernweh Group LLC ("Fernweh"), jointly announced today they have entered into a definitive agreement whereby AZZ will contribute its AZZ Infrastructure Solutions Segment1 ("AIS") to AIS Investment Holdings LLC (the "AIS JV"), and sell a 60% interest in the AIS JV to Fernweh at an implied enterprise value of AIS of $300 million. The valuation represents approximately 8.1x AIS LTM 2/28/2022 adjusted EBITDA2 of roughly $37 million and is expected to result in cash proceeds to AZZ of approximately $228 million, subject to certain customary purchase price adjustments. Under the terms of the transaction, the AIS JV will be governed by a board with three representatives from Fernweh and two representatives from AZZ. Following the close of the transaction, Fernweh will own 60% of the AIS JV and AZZ will own 40%. The transaction is expected to close before the end of 2022, subject to obtaining the requisite governmental approvals and other customary closing conditions and approvals.