Investment firm Lone Star has completed its acquisition of Alliance Ground International, finalising a deal that gives the US airport services provider a new financial backer for its next growth chapter.
Lone Star Funds had announced in January that an affiliate of Lone Star Fund XII had reached a definitive agreement to acquire AGI from Greenbriar Equity Group and Audax Private Equity. That transaction has now closed.
For AGI, the change in ownership marks what chief executive Jared Azcuy described as an important next step. He said the company’s commitment to safety, reliability and operational excellence remains unchanged, and that the new partnership strengthens its ability to support airline customers while reinforcing the value of the platform AGI has built.
Founded in 1987 and headquartered in Miami, AGI operates at more than 60 airports across North America and employs more than 12,000 people. Its core activity is air cargo handling, supported by passenger terminal services, ground handling and other aviation-related operations.
Lone Star said it intends to work with management to identify investment opportunities that can scale the company’s operations across several segments and help expand its offer in both current and new markets.
Speaking about the deal, Lone Star chief executive Donald Quintin said AGI has a strong service offer and an established track record across integrated operations. He added that the firm sees opportunities to continue investing in the business and its workforce so that AGI can further expand its capabilities and maintain a leading position in aviation services.
Last year, Azcuy told Air Cargo News that AGI ultimately wants to expand into Europe, Canada, Mexico and South America as it continues building out its business at growing US cargo gateways.
