PE Business KKR Buying Atlantic Aviation for Practically $4.5B

U.S.-based personal fairness organization KKR these days introduced that it is obtaining Atlantic Aviation, an FBO chain with 69 U.S. spots, from Macquarie Infrastructure Corporation (MIC) for virtually $4.5 billion. The deal, which is predicted to shut in the fourth quarter, arrives on the heels of the sale of Signature Aviation, the world’s premier FBO chain, to non-public-equity corporations Blackstone, GIP, and Cascade for $4.7 billion.

MIC is selling its Atlantic Aviation organization to KKR for $4.475 billion in money and assumed personal debt and reorganization obligations. Total, MIC expects to obtain $3.525 billion at closing. MIC purchased Atlantic Aviation and its 10 FBOs in 2004 for a claimed $238 million.

MIC experienced at first put Atlantic on the current market some months ago, but people endeavours ended up shelved amid the global Covid pandemic. A person industry expert observed that in the absence of the pandemic, the Atlantic sale would have concluded long prior to the Signature Aviation offer transacted and that, in the end, MIC benefitted fiscally from the fascination surrounding the Signature sale.

“We are proud of the strong expansion Atlantic Aviation has accomplished under our ownership, which resulted in strong curiosity from prospective potential buyers through the sale procedure,” claimed MIC CEO Christopher Frost. “We are delighted with the outcome of the sale process and the unlocking of further worth for MIC shareholders.”

Atlantic Aviation CEO Lou Pepper informed AIN that “KKR’s aim on delivering very long phrase capital mixed with our existing system for development will permit Atlantic to grow into important parts and to meet our customers’ requires now and into the potential.”