SAAM Completes Aerosan Purchase and Now Controls 100%
As of today, the company fully controls the airport services company operating in Chile, Colombia and Ecuador, and aspires to play an important role in the industry consolidation process.
Santiago, October 28, 2020. SAAM closed a deal to purchase 50% of Aerosan, a company that provides airport services in Chile, Colombia and Ecuador. The company invested US$ 32 million in the transaction, which was agreed last August. After obtaining regulatory approval, SAAM now fully owns the company.
The CEO of SAAM, Macario Valdés, commented, “This transaction will help us strengthen our businesses other than ports and towage services, with a special focus on air cargo, where we see opportunities for expansion and consolidation, accompanied by our operating model. Aerosan is well positioned thanks to long-term contracts and important concessions at airports in the countries where we operate, enabling us to offer importers and exporters services along the entire air logistics chain.”
The airport services company has over 40 years’ experience and moves more than 300,000 tons of import, export and domestic cargo annually. It boasts over 33,000 square meters of infrastructure for providing cargo, ramp, warehouse, charter and passenger services for airlines, importers and exporters at eight airports. In 2019 it reported US$ 57 million in total sales.
SAAM is a multinational corporation providing services for international trade through its three divisions: Port Terminals, Towage and Logistics. With 58 years in business, SAAM has operations in 12 countries in North, Central and South America. It is one of the leading operators of port and towage services on the continent.