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Fraport Greece

Fraport Greece adopts Drooms for smoother due diligence process

About the case study

In 2017, following international tender processes, awards, and concessions by the Greek State, Fraport Greece launched a major €400 million infrastructure development program at the 14 regional airports across Greece, completed earlier than contractually agreed. This included the construction of new terminals, renovation of runways and the installation of state-of-the-art baggage handling and security systems. Thus, in January 2021, Fraport Greece significantly transformed the network of said airports.

€400 Million Infrastructure

Effective management of Fraport Greece’s €400 million budget for airport infrastructure development was facilitated by Drooms, ensuring budget adherence and timely completion.

Five-Day Robust Implementation

Drooms’ data room was fully operational in a mere five days, a testament to our swift and efficient setup. This rapid deployment allowed Fraport Greece to move forward without delay, a critical factor in time-sensitive financial operations.

Intuitive User Experience and Comprehensive Support

Fraport Greece required a tool that was simple, intuitive, and required minimal training. Drooms stood out with its user-friendly interface, ensuring a smooth transition for Fraport Greece’s team.

About Fraport Greece

Founded in 2015, Fraport Greece is the operator of 14 regional airports across Greece. Fraport Greece is responsible for maintaining, operating, managing, upgrading, and developing these airports and has been doing so for over 40 years. The shareholders of Fraport Greece are Fraport AG Frankfurt Airport Services Worldwide, Slentel Limited, belonging to the Copelouzos Group, and MARGUERITE airport Greece SaRL. For further information on FraportGreece, please refer to its website.

The Story of Innovation and Collaboration

In 2022, Fraport Greece decided to refinance the financing scheme regarding the 14 Greek airports. Evangelia Kounenou, Senior Legal Counsel at Fraport Greece, was among the members of the internal working group tasked with this project. A project of such a large scale would need an efficient and robust data room solution to manage all the documentation. Otherwise, Fraport Greece would bear the burden of repeatedly numbering, copying, re-copying, and sending documents to its external partners. This would be a significant drain on the company’s resources and daily business.

THE GOAL

Streamlining Complex Financial Operations for Fraport Greece
It was easy to upload and organise all documents and it (Drooms) is so intuitive that the teams wouldn’t need any excessive training to get up to speed.

Evangelia Kounenou

Senior Legal Council, Fraport Greece.

A simple and easy to implement tool

Evangelia, after an initial demo, was impressed with the product. “It was easy to upload and organise all documents and it’s so intuitive that the teams wouldn’t need any excessive training to get up to speed,” said Evangelia.

Making a great first impression

Since the process/project was time-critical, the onboarding and implementation of Drooms had to be fast. Fraport Greece’s data room was “It was easy to upload and organise all documents and it (Drooms) is so intuitive that the teams wouldn’t need any excessive training to get up to speed.” Evangelia Kounenou, Senior Legal Council,Fraport Greece.fully set-up in just five days. It was then time to invite external parties to the data room. “Inviting our partners to our data room was incredibly simple,” said Evangelia. “It took just a few clicks and I could even schedule when the invites went out”. With Drooms, admins can also track every action and visualise time spent on their documents. “We could also see exactly who had accessed which documents and when,” commented Evangelia. Members of the working group were particularly impressed by the user-friendliness of the tool. Even without prior technical knowledge, the use of Drooms and its various features was intuitive. In addition, Drooms’ Customer Success Team was available around the clock throughout the entire process to clarify questions and solve problems.

A world-class customer service

The onboarding process was very quick and seamless. The Drooms Customer Success Team assisted with uploading and organising all the documents required in a detailed index. In most cases the customer uploads documents directly to their data room on their own. Due to the large volume of documentation and the time constraints of this project, the Drooms Customer Success team assisted Fraport Greece with this process. “Having documents well organised is very important for due diligence. The Drooms team was extremely helpful and responded to all our requests promptly,” commented Evangelia. The Drooms team also set-up document permissions for Fraport Greece that determine who could view, upload and delete each document. This would guarantee an extra layer of control and security.

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