Ardian, a world-leading private investment house, today announces that it has signed an agreement
for the acquisition of the ownership position in Aviation Facilities Company Management, LLC
(“AFCO”) previously held by the Infrastructure business at Goldman Sachs Alternatives. AFCO is an
independent industry leader in the investment, development, management, and operation of onairport cargo facilities and other airport infrastructure in the U.S.
Headquartered in Dulles, Virginia, AFCO’s business currently includes more than 3.5 million square
feet of airport infrastructure, with 29 properties at 15 airport locations around the U.S. and U.K.,
including on-airport air cargo warehouses and aircraft apron, ground support equipment
maintenance and concession logistics facilities, aircraft maintenance hangars, and a robust pipeline
of new development and acquisition opportunities at key airports.
Through this new partnership with Ardian, AFCO will have access to valuable resources and
operational expertise, enabling the company to advance its growth strategy, including through
targeted acquisitions.
“We are delighted to partner with AFCO and leverage the management team’s
experience, knowledge and the relationships they have developed over the past
three decades in the airport infrastructure space as we continue to build on the
company’s strong foundation and accelerate growth. On behalf of Ardian, we look
forward to working closely with the AFCO management team in this exciting next
chapter of partnership,”
● STEFANO MION ● CO-HEAD OF INFRASTRUCTURE AMERICAS AND SENIOR MANAGING DIRECTOR,
ARDIAN
“This investment builds on our strategic initiative to expand into the infrastructure
and aviation market. Ardian launched this initiative two decades ago and has since
held and exited investments in London Luton and 2i Aeroporti and, most recently,
made a significant investment in Heathrow to become the airport’s largest
shareholder. AFCO is the ideal partner as we continue to expand our industry footprint around the world, particularly in the U.S. and the broader Americas region,
and focus on acquiring strategic infrastructure assets with a proven track record.”
● LEONARDA ORANI ● MANAGING DIRECTOR, ARDIAN
“We are delighted to have partnered with AFCO since 2018 to support the company
as it accelerated its growth and strengthened its position as a leader in on-airport
cargo warehousing in North America, demonstrating resilient infrastructure
characteristics as the market environment evolved,” (…) “Our investment in AFCO,
sourced on a bilateral, proprietary basis, represents the unique access to compelling
infrastructure opportunities provided by our One Goldman Sachs franchise. We wish
the management team and Ardian success on the next phase of their journey.”
● TERESA MATTAMOUROS ● MANAGING DIRECTOR IN INFRASTRUCTURE, GOLDMAN SACHS
ALTERNATIVES
“We appreciate the supportive partnership we have had with Goldman Sachs
Alternatives over the past seven years. We have instituted a number of value
creation initiatives, including an innovative financing structure that has allowed us
to invest in existing facilities and strategically expand our portfolio through new
acquisitions and developments and create cost-effective solutions for our airport
and tenant partners” (…) “As we look ahead, we are excited about our new
relationship with Ardian and look forward to drawing on the team’s expertise as a
global player and international leader in essential infrastructure, including
transportation and aviation, as we continue to grow our company.”
● CHUCK STIPANCIC ● CEO, AFCO
The closing of the transaction is subject to customary closing conditions.
DC Advisory served as a financial advisor and Gibson Dunn served as legal counsel to Ardian. RBC
Capital Markets, LLC and Eastdil Secured, LLC served as financial advisors and Fried, Frank, Harris,
Shriver & Jacobson LLP served as legal counsel to Goldman Sachs Alternatives.
