Finance, Taxes, Insurance
World Kinect Agrees To Sell Avinode to Camp Systems
The deal is for $200 million in cash and includes software that serves FBOs
Avinode
© Avinode

Energy management company World Kinect yesterday announced plans to sell charter information platform Avinode Group to Camp Systems International for $200 million in cash. The sale includes World Kinect’s aviation software that serves the FBO market.

World Kinect expects the deal to close within 60 days and plans to use the proceeds to repay debt and reduce its annual run rate of interest expense by approximately $10 million, according to company executive v-p and CFO Ira Birns. “Longer term, this transaction should provide us with additional liquidity to invest in our core distribution platform and emerging sustainability offerings.”