Candover, the European buy-out house, has finally completed the management buy-out of Swissport, the airport ground handling company, having entered into exclusive negotiations with its parent, the Swissair Group, in August 2001.

The total deal value of Sfr580m (€394m) comprises Sfr274m in equity underwritten by Candover, and debt provided by a syndicate of five banks, led by Royal Bank of Scotland, with mezzanine provided by ICG.