KKR has agreed to buy Atlantic Aviation from US-listed Macquarie Infrastructure Corporation (MIC) for $4.48bn (€3.7bn) in cash and to assume its debt and reorganisation obligations.
Atlantic Aviation operates at 69 US airport locations providing services to the private aviation sector.
KKR is making its investment in Atlantic Aviation primarily through its global infrastructure investors and core investments strategies.
“Atlantic Aviation has an outstanding reputation as a leading operator of critical aviation infrastructure across the US,” said Dash Lane, a partner at KKR.
Lane said KKR was focused on providing long-term capital to support the growth of high-quality and resilient businesses, and it would invest alongside Atlantic’s experienced team and strong existing platform to capitalise on “multiple avenues” of future growth.
Christopher Frost, chief executive officer of MIC, said that, under MIC ownership, Atlantic Aviation had achieved robust growth, and this had resulted in strong interest from prospective buyers during the sale process.
The sale of Atlantic Aviation is expected to close in the fourth quarter of 2021, subject to approvals.
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