Air Transport Services Group, Inc. (“ATSG”), a global leader in medium widebody freighter aircraft leasing, air transport operations, and support services, has announced the completion of its acquisition by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, in an all-cash transaction with an enterprise valuation of approximately $3.1 billion.
“Today marks an important milestone in ATSG’s journey,” said Mike Berger, Chief Executive Officer of ATSG. “As a private company – and with Stonepeak’s support, as a leading investor in transportation, logistics, and asset leasing businesses – we are well-positioned to enhance our capabilities and sustain ATSG’s long term growth. I look forward to focusing on delivering value for our employees, customers, partners, communities, and other stakeholders. Our employees continue to demonstrate they are the best in the business across all ATSG companies. That, very simply, is what separates us from the rest.”
“ATSG has proven itself to be a leader in global aircraft leasing, with significant scale, strong customer relationships, and an incredibly talented team across all of its businesses,” said James Wyper, Senior Managing Director, Head of Transportation & Logistics, and Head of U.S. Private Equity at Stonepeak. “We look forward to partnering with Mike and the rest of the team to support ATSG in its next chapter as a private company.”
The transaction was announced on November 4, 2024, and received approval of ATSG’s stockholders on February 10, 2025. In accordance with the definitive merger agreement, holders of ATSG’s common shares will receive $22.50 per share in cash. With the completion of the acquisition, ATSG’s common shares have ceased trading and will no longer be listed on NASDAQ.
Goldman Sachs & Co. LLC acted as exclusive financial advisor to ATSG. Davis Polk & Wardwell LLP, Vorys, Sater, Seymour & Pease LLP and Silverberg Goldman LLP acted as legal counsel to ATSG. Evercore acted as financial advisor to Stonepeak. Simpson Thacher & Bartlett LLP and Hogan Lovells US LLP acted as legal counsel to Stonepeak.
