Air Transport Services Group Inc. has completed its $3.1 billion acquisition by Stonepeak, the companies announced Monday.
The all-cash transaction, first announced in November 2024, was approved by ATSG shareholders in February. Under the terms of the agreement, holders of ATSG common shares will receive $22.50 per share. ATSG shares have ceased trading and are no longer listed on NASDAQ.
“Today marks an important milestone in ATSG’s journey,” said Mike Berger, CEO of ATSG. “As a private company – and with Stonepeak’s support – we are well-positioned to enhance our capabilities and sustain long-term growth.”
Stonepeak is a New York-based investment firm focused on infrastructure and real assets. James Wyper, the firm’s senior managing director and head of transportation and logistics, said ATSG brings strong customer relationships and “an incredibly talented team.”
ATSG, based in Wilmington, Ohio, provides medium widebody freighter aircraft leasing and support services through its subsidiaries, including ABX Air, Air Transport International and Omni Air International.
Goldman Sachs & Co. LLC acted as exclusive financial advisor to ATSG, with legal counsel from Davis Polk & Wardwell LLP, Vorys, Sater, Seymour & Pease LLP, and Silverberg Goldman LLP. Stonepeak was advised by Evercore and represented by Simpson Thacher & Bartlett LLP and Hogan Lovells US LLP.
