Lone Star Funds announced that a subsidiary of Lone Star Fund XII, LP, has entered into a definitive agreement to acquire Alliance Ground International (“AGI”), a leading provider of airport services in North America, from Greenbriar Equity Group and Audax Private Equity. Financial terms of the transaction were not disclosed.
Founded in 1987 and headquartered in Miami, AGI operates in over 60 airports across North America and employs more than 12,000 people. The company provides essential outsourced services that ensure the efficient movement of cargo and passengers at major airport hubs. AGI’s core business is air freight handling, passenger terminal services, ground handling, and other related services. With its integrated service offerings, strategic airport presence, and long-standing customer relationships, AGI is a trusted partner for cargo carriers and airlines. The company supports airport operations and global trade flows.
Lone Star will collaborate with AGI to support its growth and target investment areas that will allow it to expand its operations across several of its segments and broaden its offering in new and existing markets. Together, Lone Star and AGI will focus on providing excellent service to their clients, while maintaining their commitment to security and fostering a corporate culture based on collaboration and respect.
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“We are delighted to have completed this acquisition agreement with AGI, a company that is a true leader today,” said Donald Quintin, CEO of Lone Star. “Lone Star has always partnered with companies like AGI, which provide essential services to key industries. We will work closely with AGI’s management team to drive growth, while continuing to ensure the high quality of service that its customers have come to expect.”
“This partnership with Lone Star marks a significant milestone in AGI’s continued growth,” said Jared Azcuy, CEO of AGI. “Thanks to our commitment to safety, reliability, and service excellence, AGI has been able to grow rapidly in the aviation industry. We are excited to continue our global expansion alongside Lone Star, to be at the forefront of technological innovation, and to continue improving the quality of service we provide to our airline customers.”
The transaction is subject to customary closing conditions and approvals.
Evercore is acting as financial advisor and Vinson & Elkins as legal advisor to Lone Star. BofA Securities is acting as financial advisor and Ropes & Gray as legal advisor to AGI.
SOURCE: BusinessWire


