Blackstone will acquire a 22% stake in British airports group AGS Airports from AviAlliance for £235 million ($304.4 million), the company said on March 28, 2025.
AviAlliance, owned by the Public Sector Pension Investment (PSP Investments) will retain a 78% stake in the group. The company had acquired the group in November last year for $1.53bn from Ferrovial and Macquarie, and was completed in January this year.
Blackstone said its investment will support the “continued growth of the travel and tourism industries” in the UK. The airport group manages the Aberdeen, Glasgow, and Southampton airports.
“Transportation remains a key thematic focus area for Blackstone, given continued strong global growth in leisure travel," said Blackstone Infrastructure Strategies CEO Greg Blank. "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.”
“Both PSP and Blackstone are like-minded investors with long-term patient capital to support the development of AGS, which will benefit from the operational expertise of AviAlliance,” said PSP managing director and global head of infrastructure investments Sandiren Curthan.
“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," said AviAlliance managing director Gerhard Schroeder. "Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”