Investment firm Lone Star has now completed its takeover of US airport services provider and ground handler Alliance Ground International (AGI).
Lone Star Funds announced in January that an affiliate of Lone Star Fund XII, L.P. had entered into a definitive agreement to acquire AGI from Greenbriar Equity Group and Audax Private Equity.
The acquisition “marks an important next step for AGI”, said Jared Azcuy, who remains the chief executive of AGI.
“Our commitment to safety, reliability, and operational service excellence remains unchanged. This partnership strengthens our ability to deliver for our airline partners and reinforces that the platform we’ve built is not only proven, but positioned to lead the next phase of growth in our industry.”
Founded in 1987 and headquartered in Miami, AGI operates in over 60 airports in North America and employs more than 12,000 professionals.
AGI’s core business is air cargo handling, supported by passenger terminal, ground handling and other related services.
Lone Star now aims to work with AGI to target areas for investment to scale its operations across several of its segments and to expand its offering in new and existing markets.
Last year, Azcuy told Air Cargo News that AGI’s ultimate goal is to expand into Europe, Canada, Mexico and South America as it continues to build its business at growing cargo airports across the US.
“We are excited to partner with the AGI management team to drive the business forward,” said Donald Quintin, chief executive of Lone Star.
“The company has a superior service offering and a track record of success across its integrated operations. We see opportunities to continue to invest in the business and its people to continue to grow its capabilities and ensure it remains best-in-class in delivering for the aviation industry.”
