US investment firm Apollo Global Management is close to acquiring a majority stake in private aviation services provider Atlantic Aviation in a deal expected to be worth several billion dollars, according to reports.
The transaction would see Apollo purchase the stake from rival investment group KKR, which has owned the business since 2021.
Atlantic Aviation is the world’s second-largest fixed-base operator (FBO) network, providing services such as fuelling, hangaring and passenger facilities for private jets across more than 100 locations in the United States and the Caribbean.
Valuation set to rise
KKR acquired the company from Macquarie Infrastructure in a deal valued at $4.475bn, including around $1bn in debt.
Reports suggest the latest sale could value Atlantic Aviation at more than double that figure, highlighting strong investor interest in the growing private aviation sector.
The deal is expected to be completed in partnership with GIC, which would co-invest alongside Apollo.
Deal could be finalised soon
Atlantic Aviation has reportedly been on the market since last year, with the agreement potentially being finalised within days, subject to any last-minute delays.
Neither Apollo nor KKR has publicly commented on the reported transaction.
Analysts say demand for private aviation services has remained robust in recent years, with investors attracted by steady revenues from business aviation and premium travel markets.