Apollo Global Management Inc. has agreed to acquire a co-control stake in Atlantic Aviation, a leading U.S. fixed-base operator serving corporate and general aviation clients, from KKR & Co. for approximately $10 billion.
The transaction values Atlantic Aviation at nearly $10 billion, positioning the company among the largest FBOs in the United States. Apollo’s funds will hold a substantial stake in the business, while KKR will retain a significant minority position as a continuing shareholder.
Atlantic Aviation operates under long-term airport concession contracts and serves high-traffic airfields, providing services such as aircraft refueling, hangar rentals, and other aviation support. KKR originally acquired the company in 2021 and expanded its operations through strategic acquisitions and organic growth across the U.S. and select international markets, alongside investments in employee health and safety initiatives.
Apollo highlighted its track record in infrastructure transactions, noting it has originated over $155 billion in infrastructure financing and deals across energy, transportation, digital technology, and industrial sectors over the past five years. KKR’s infrastructure arm manages more than $120 billion in assets and has deployed over $12 billion in aviation-related investments since 2015.
The deal underscores Apollo’s push into aviation infrastructure while maintaining KKR’s exposure to the sector through a reduced stake.
