In one of the most significant consolidation moves in the global air cargo services sector this year, Brookfield Asset Management has agreed to acquire World Freight Company (WFC) from private equity firms PAI Partners and EQT, in a transaction valued at approximately US$1.2 billion.
The deal, announced on May 14, marks a major vote of confidence in the resilience and long-term growth potential of the global air cargo outsourcing sector. Subject to customary regulatory approvals and closing conditions, the transaction is expected to complete by the end of 2026.
Founded in 2004 in Paris, WFC has grown into one of the world’s largest general sales and service agent (GSSA) platforms, providing outsourced cargo sales, booking management, operational oversight, and commercial representation for airlines across international markets. Today, the group supports more than 300 airlines, manages cargo flows across 3,500 trade lanes, and serves over 16,000 freight forwarders in more than 80 countries, giving it one of the broadest commercial footprints in the air cargo industry.
WFC’s portfolio includes some of the most established names in the cargo representation business, including Air Logistics Group, ATC Aviation, Kales Group, Wexco Cargo, and HAE Group, alongside more than 20 other regional and specialist cargo brands operating across Europe, Asia Pacific, the Americas, the Middle East, and Africa.
Brookfield said its investment thesis is centered on accelerating WFC’s next phase of expansion through technology deployment, stronger commercial execution, and continued participation in industry consolidation. Alex Yang, Managing Partner in Brookfield’s Private Equity business, described WFC as “a high-quality platform operating in a critical segment of the resilient global airfreight ecosystem,” highlighting the company’s global scale, local market capabilities, and long-standing airline relationships.
The acquisition comes after a transformative ownership period under PAI and EQT, who acquired the company in 2018 in a transaction reportedly worth more than €600 million. Since then, WFC has completed 20 acquisitions, significantly expanding its global footprint while investing heavily in digital platforms, operational systems, and AI-enabled commercial capabilities.
Vikram Singh, Group Chief Executive Officer of WFC, said the partnership with PAI and EQT had materially strengthened the business over the past several years.
“Together, we have materially strengthened WFC’s platform, expanded our capabilities and continued to invest in innovation and customer service. We are excited to partner with Brookfield as we continue executing our growth strategy and supporting our airline and freight-forwarding customers globally.”
For Brookfield, whose logistics and infrastructure portfolio already spans ports, rail, warehousing, industrial property, and transport assets worldwide, the acquisition represents a strategic expansion deeper into the service layer of global trade infrastructure.
As airlines continue to outsource commercial cargo functions while seeking broader market access, pricing agility, and digital sales capabilities, GSSA platforms such as WFC are becoming increasingly central to the air cargo ecosystem. Brookfield’s entry into the sector is likely to accelerate further consolidation and technology-led transformation across the fragmented global cargo representation market.
With market volatility, geopolitical disruptions, and supply chain complexity continuing to reshape air freight, the acquisition positions WFC for its next chapter as a scaled, digitally enabled global cargo services platform backed by one of the world’s largest infrastructure investors.
