Blackstone Infrastructure Strategies has agreed to buy a 22% stake in AGS, the operator of Southampton, Glasgow and Aberdeen Airports, from its new owner AviAlliance.
AviAlliance, which retains 78% of the shares, is selling the stake for £235 million.
AGS said the investment ‘is intended to support the continued growth of the travel and tourism industries across the United Kingdom’.
Blackstone Infrastructure Strategies, which handles investments for institutions and individuals, said transportation was one of its key focus areas due to strong global growth in leisure travel.
CEO Greg Blank said: “AGS has access to one of the most diversified airline mixes of any major UK airport, and the company’s recent capital improvements aimed at accommodating large 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.”
Southampton Airport completed a 164-metre runway extension 18 months ago, allowing it to handle larger passenger planes.
AviaAlliance Managing Diector Gerhard Schroeder added: “We look forward to developing a constructive and long-term partnership with Blackstone for the benefit of AGS, its management and employees, as well as all other stakeholders at the three airports.
“Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”
