Wednesday, December 7, 2022
ICR Inc. and Tancredi Intelligent Communication are working the $676M deal that will take Turkey’s MNG Airlines, a cargo carrier and logistics provider, public via a merger with Golden Falcon Acquisition Corp. SPAC.
MNGA serves 15K corporate customers across the US, Asia and Europe with 3,500 flights per year. It is an approved supplier to the US military, NATO and the UN.
The company reported a 39 percent rise in revenue to $353M during the 12-month period ended September and net income of $61M.
Scott Freidheim, chairman of Golden Falcon, said the SPAC’s goal was to acquire “an established company in the Europe, Middle East and Israel region with a compelling track record, cash flow-generation, a clear transatlantic expansion nexus, a strong growth profile, and benefitting from secular market tailwinds.”
He believes MNGA meets those attributes.
ICR Inc.’s Michael Bowen represents MNGA, while TIC’s Salamander Davoudi handles Golden Falcon.