Aviation Facilities Company Management, LLC (AFCO), a leader in the development, management, and operation of on-airport cargo facilities in the U.S., has announced a major ownership transition. Goldman Sachs Alternatives has entered into a definitive agreement to sell its stake in AFCO to Ardian, a global private investment powerhouse.
Headquartered in Dulles, Virginia, AFCO manages over 3.5 million square feet of airport infrastructure, encompassing 29 properties across 15 airports in the U.S. and U.K. These facilities include on-airport air cargo warehouses, aircraft aprons, ground support equipment maintenance hubs, aircraft hangars, and concession logistics spaces. With Ardian’s investment, AFCO is poised to leverage new resources and operational expertise to fuel its growth strategy, including targeted acquisitions.
Chuck Stipancic, President & CEO of AFCO, expressed gratitude for the partnership with Goldman Sachs Alternatives, citing significant achievements, such as innovative financing structures and strategic portfolio expansions. He added, “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.”
Stefano Mion, Co-Head of Infrastructure Americas at Ardian, highlighted AFCO’s potential, emphasizing the value of its management team’s three-decade experience in airport infrastructure. Ardian’s Managing Director, Leonarda Orani, noted the investment aligns with Ardian’s broader aviation and infrastructure strategy, reinforcing the firm’s commitment to expanding in the U.S. and globally.
Goldman Sachs Alternatives praised the resilience and success of AFCO, with Managing Director Teresa Mattamouros commending the collaboration and wishing the company success under Ardian’s stewardship.
The transaction is subject to customary closing conditions. Financial advisors for the deal included DC Advisory for Ardian, and RBC Capital Markets, LLC and Eastdil Secured, LLC for Goldman Sachs Alternatives. Legal counsel was provided by Gibson Dunn for Ardian and Fried, Frank, Harris, Shriver & Jacobson LLP for Goldman Sachs Alternatives.
Source: Swifteradio.com
