Fraport AG, which operates a number of airports around the globe in addition to Frankfurt Airport, was transformed under the leadership of Dr Wilhelm Bender from a loss-making state-owned entity to a fast growing, publicly listed company.
Completed in 2001, the company’s successful IPO paved the way to profitability and growth. Frankfurt Airport, with more than 80.000 people, is now the largest single-site workplace in Germany. “It’s the backbone of wealth in this state,” says Dr Bender, who ran the company as CEO for 16 years.
During his time at Fraport, Bender became a recognized business figure in Germany and abroad, with deep personal relationships across multiple sectors and geographies. But, when his tenure as CEO came to an end in 2009, he was ready for new opportunities. That’s when he received a phone call. Would he like to work with Advent International?
Explaining our philosophy
Fourteen years later, Bender remains active as an Operating Partner working closely with Advent’s Frankfurt-based team. He describes his role as exciting and diverse thanks to a variety of activities, which include supporting Advent in developing and assessing new deal opportunities, providing strategic advice to management teams, and assisting in due diligence processes. The Advent team highly appreciates Bender’s contribution over the last one and a half decades in helping to build the company’s reputation as an experienced and trusted private equity investor.
“In 2009, Advent in Germany was much smaller than it is now,” recalls Bender, joining from his home office in Frankfurt, where he resembles both business leader and professor with his white hair and circle-frame spectacles. “Private equity and the German Advent team were less well-known at the time. Looking back, I enjoyed most the numerous visits to family-owned companies and corporates, and being part of the broader Advent team when evaluating new deal opportunities.”
One of the differentiating factors of Advent is its strong and deeply rooted deal team in Frankfurt, which has a track record of executing large and complex transformations and carveouts. Bender has helped to build the company’s reputation as one of the leading private equity investors in Germany.
“It’s important to have a clear profile and credibility with key stakeholders,” he explains. “If they are considering bringing new equity partners on board, a strong track record and an excellent reputation with union and employee representatives, in particular in Germany, are important.”
He adds, “The key is to build a personal relationship with key decision-makers.”
Bender has assisted the Advent team by sharing his operational experience as part of due diligence processes. He has applied his industry knowledge to advise the Advent team on potential deals in the transport sector, and sits on the supervisory board of former ThyssenKrupp Elevator (TKE), which Advent invested in 2020.
“I knew I could help Advent colleagues in the acquisition of the company,” he explains, “and executing their value creation plan.”
A federal honor
Bender’s achievements have been recognized beyond the confines of Advent’s portfolio. Due to his contributions to Frankfurt’s business environment, and his philanthropic work, in May 2024 Bender was honored with the Federal Cross of Merit, First Class. He was presented with the cross by Hessen Minister President, Dr Boris Rhein (pictured, with Bender). The honor was bestowed on behalf of the Federal President, Dr Frank-Walter Steinmeier, at a ceremony in Frankfurt.
In his speech, Rhein referred to Bender’s career at Fraport, but also to his various chairman roles and honorary positions. For example, Bender is an honorary professor at the Johann Wolfgang Goethe University in Frankfurt, where he lectures on issues in aviation.
He also has an active interest in Vietnam, going back 15 years, when he was asked by the Minister for Science in Hessen to join the council of a new venture, the Vietnamese-German University in Binh Duong, Vietnam.
“Vietnam is a fascinating country with a young population and very impressive GDP growth,” he says. “I go once or twice a year.”
Bender’s interest in the country is not limited to teaching. He is also involved in providing employment opportunities for Vietnamese workers to come to Germany.
“Together with our Minister of Labor, we are trying to bring employees from Vietnam to Germany to work in hospitals and provide ground handling services at Frankfurt airport,” he says. He also sees opportunities in the hospitality sector – specifically hotels and restaurants – in which he has an active interest; he is Chairman of the supervisory board of Steigenberger Hotels.
Philanthropy
Bender’s has also deep rooted interests in sport. He was Chairman of the supervisory board of the Bundesliga football club Eintracht Frankfurt from 2010 to 2015 and retains good connections with the team.
He is also involved in various philanthropic ventures and participated in a recent charity event hosted by Advent for a local children’s hospital, in which members of Advent’s team organized a day of fun summer activities. Ex-Frankfurt Eintracht player Alexander Schur and current player Timothy Chandler also joined the summer party at the children’s hospital (see photo, below).
Bender is also Chairman of the board of trustees of the Society of Friends and Patrons of the Jewish Museum in Frankfurt.
A journey traveled together
Throughout his working life, Bender has built up relationships with decision-makers in business and government. As an Operating Partner, he has helped unlock significant growth for Advent’s team in Germany. Supported by his advice and connections, the team has come a long way since he took that phone call in 2009.
