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New minority investor announced at AGS Airports
AGS Airports, which comprises Aberdeen, Glasgow and Southampton airports, has a new investor.
Recently acquired in full by AviAliance earlier this year, Blackstone has come onboard to take a minority stake in the business.
Blackstone Infrastructure Strategies for individual investors will buy a 22% stake, with AviAliance holding the remaining 78%.
The deal is worth£235 million.
Blackstone’s investment, together with AviAlliance and PSP Investments, is intended to support further growth of UK air travel and tourism.
AGS\ three airports handle over eleven million passengers annually.
Greg Blank, CEO of Blackstone Infrastructure Strategies, said, “Transportation remains a key focus area for Blackstone, given continued strong global growth in leisure travel.”
AGS has access to one of the most diversified airline mixes of any major UK airport company, and the recent capital improvements for larger aircraft pave the way for new routes and higher traffic growth.”
“We look forward to partnering with AGS to support this important growth in the United Kingdom.”
Blackstone Infrastructure has a strong track record of transportation infrastructure investments.
This includes Mundys, the world’s largest toll road platform and manager of airports Roma Fiumicino and Ciampino, and private aviation terminal network Signature Aviation.
Sandiren Curthan, MD and Global Head of Infrastructure Investments, PSP Investments, said: “We are pleased to bring in Blackstone as a minority shareholder in AGS”.
“Both PSP and Blackstone are like-minded investors with long-term patient capital to support the development of AGS.”
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