AviAlliance announced yesterday the acquisition of AGS Airports from Ferrovial and Macquarie, for an enterprise value of £1.53 billion. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2025.

AGS Airports, founded in 2014, operates Aberdeen, Glasgow and Southampton airports, which contribute around £2 billion of gross value added to the UK economy each year, and support over 30,000 jobs in a sophisticated supply chain. Aberdeen was the UK’s 16th busiest commercial airport in 2023, handling 2.3 million passengers, while Glasgow handled 7.4 million, making it the ninth busiest. South of the border, Southampton was 22nd, handling just under 760,000 passengers.

AviAlliance, a wholly-owned subsidiary of PSP Investments, is one of the world’s leading private airport investors and operators. The company participates in global airport privatizations, and owns an international airport network with operating interests in Athens, Düsseldorf, Hamburg and San Juan, Puerto Rico. In 2023, these four facilities together handled 73 million passengers.

PSP Investments is one of Canada's largest pension investors, with C$264.9 billion in net assets under management as of March 31, 2024.