Apollo Global Management Inc. has agreed to acquire a co-controlling stake in Atlantic Aviation, a leading U.S. fixed-base operator, from KKR & Co. Inc. for nearly $10 billion, according to a statement released on Thursday.
The transaction values Atlantic Aviation at approximately $10 billion, with Apollo-managed funds taking a majority position while KKR retains a substantial minority stake. The deal follows KKR’s acquisition of Atlantic in 2021, during which the firm expanded the company’s footprint through both strategic acquisitions and organic growth across the United States and select international markets.
Atlantic Aviation operates as a fixed-base operator, providing fueling, hangar leasing, and other aviation services to corporate and general aviation customers. Its operations are supported by long-term airport concession agreements and a presence at high-activity airfields nationwide. KKR noted that it also invested in employee health and safety initiatives during its ownership period.
Apollo’s infrastructure platform has originated over $155 billion in transactions and financings across energy, transportation, digital, and industrial sectors over the past five years. KKR’s infrastructure business, meanwhile, manages more than $120 billion in assets and has deployed over $12 billion in the aviation sector since 2015.
Financial terms of the deal were not disclosed, and the transaction is expected to close subject to customary regulatory and closing conditions.
