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BUSINESS MAVERICK: Bidvest lets go of underperforming travel business in portfolio clean-up

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Bidvest has disposed of its travel interests in its ongoing effort to reorganise the company for higher growth.

Diversified industrial group Bidvest has sold its struggling BidAir Services business to a consortium that includes management and Africa’s biggest ground handling company.

It will retain BidTrack, Vericon and Bidair Cargo, which achieved commendable results, as did Bidair Lounges, which was on track for a strong performance until the pandemic curtailed its performance in the fourth quarter of 2020. “We have escalated our focus internationally and the acquisition of [UK hygiene firm] PHS is indicative of the scale we are pursuing. Even without Covid-19, we anticipated that hygiene would be a growth industry and the decision to give this sector a more strategic focus was made some years back. Our sector learnings in South Africa and now in the UK, Ireland and Spain, will stand us in good stead as we pursue other possibilities.

NAS is a fast-growing emerging markets operator that provides aviation services across 20 countries, 55 airports, and manages more than 50 lounges in Africa, the Middle East and South Asia.

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