Apollo acquires significant stake in $10bn Atlantic Aviation

Private equity firm Apollo and KKR have entered a strategic partnership centered around Atlantic Aviation, a US private aviation infrastructure business valued at nearly $10bn. Following the deal, Apollo-managed funds will take a significant stake in the company, while KKR will maintain a substantial shareholding. This allows KKR to continue its investment in Atlantic Aviation, which it has owned since 2021, while also gaining exposure to a new infrastructure investor.

Atlantic Aviation provides essential services such as aircraft fuelling, hangar space and other ground support to corporate and general aviation customers. The company operates a network of fixed-base operator (FBO) facilities across the US, leveraging long-term airport concession agreements to build a diversified presence in some of the country's busiest aviation markets.

The financial terms of Apollo's investment have not been disclosed. This transaction is seen as a continuation of KKR's investment in Atlantic Aviation rather than a full exit from the business. Since 2021, when KKR acquired Atlantic Aviation, the firm has supported growth through a mix of acquisitions and organic investment, expanding the company's footprint across the US and certain international markets.

KKR has also invested in operational enhancements and employee health and safety initiatives. Atlantic Aviation has developed one of the strongest safety records in the sector as a result of KKR's support.

For KKR, retaining a substantial interest in Atlantic Aviation provides continued exposure to the long-term growth of private aviation. At the same time, it allows the firm to bring in another large-scale infrastructure investor, further strengthening its position in the industry.