KKR has purchased Atlantic Aviation from Macquarie Infrastructure Corp. for $4.475 billion in cash and assumed debt and reorganization obligations. Atlantic Aviation is a fixed base operation in the U.S. providing a suite of services to the private aviation sector.
“Atlantic Aviation has an outstanding reputation as a leading operator of critical aviation infrastructure across the U.S.,” said Dash Lane, partner at KKR. “With our focus on providing long-term capital to support the growth of high quality and resilient businesses, we are excited to invest alongside Atlantic’s experienced team and strong existing platform which we believe is well positioned to capitalize on multiple avenues of future growth.”
“We are proud of the robust growth Atlantic Aviation has achieved under our ownership which resulted in strong interest from prospective buyers during the sale process,” said Christopher Frost, chief executive officer of MIC. “We are pleased with the outcome of the sale process and the unlocking of additional value for MIC shareholders. In addition to the timely closing of a sale of Atlantic Aviation our focus remains on successfully concluding the sale process for our MIC Hawaii business.”
Jefferies LLC served as financial advisor and Kirkland & Ellis as legal advisor to KKR. Lazard and Evercore acted as financial advisors and White & Case acted as legal advisor to MIC in connection with the sale of Atlantic Aviation.