Stonepeak, a leading alternative investment firm, has successfully completed the acquisition of Air Transport Services Group, Inc. (ATSG) in an all-cash transaction valued at approximately $3.1 billion. This acquisition marks a significant milestone for ATSG, a global leader in medium widebody freighter aircraft leasing, air transport operations, and support services.
ATSG's stockholders approved the acquisition on February 10, 2025, and as per the definitive merger agreement, holders of ATSG’s common shares will receive $22.50 per share in cash. With the completion of the acquisition, ATSG’s common shares have ceased trading and will no longer be listed on NASDAQ.
Stonepeak's interest in ATSG is driven by the company's strong customer relationships and significant scale in global aircraft leasing. Following the acquisition, ATSG will now operate as a private company with the support of Stonepeak, positioning itself to enhance its capabilities and sustain long-term growth.
In terms of financial advisors, Goldman Sachs & Co. LLC acted as exclusive financial advisor to ATSG, while Evercore provided financial advisory services to Stonepeak.
ATSG's unique lease+plus aircraft leasing opportunity draws upon a diverse portfolio of subsidiaries including three airlines holding separate and distinct U.S. FAA Part 121 air carrier certificates. The company's subsidiaries comprise ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc., including its subsidiary, PEMCO World Air Services, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; LGSTX Services, Inc.; and Omni Air International, LLC.
Stonepeak, with approximately $72 billion of assets under management, specializes in infrastructure and real assets, aiming to create value for its investors and portfolio companies with a focus on downside protection and strong risk-adjusted returns. The firm provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate.
This acquisition signals a new chapter for ATSG as it looks forward to leveraging Stonepeak's support and expertise to fuel its future growth and success as a private company. Following these announcements, the company's shares moved 0.0%, and are now trading at a price of $22.48. If you want to know more, read the company's complete 8-K report here.
