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.
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One Reply to “Stonepeak Finalizes $3.1B Acquisition of Air Transport Services Group”
What will Stone Peak do to make ATSG companies’ operating performance improve? All their aviation support equipment is broken down and ready to go to junk yards, you can only depreciate a turd so long before the IRS knows your a crook milking unsalvigable equipment to do aircraft maintenance. ATSG operates aircraft Fixed Cost lease with Amazon, If one piece of their lease plus incentives companies fails their relationship with Amazon gets weak. ATSG operates their IT dept. like Mayberry RFD, meaning they dont have anyone who understands Antilytics, they count on word of mouth aircraft maintenance. The company looks for handouts and free things like free fuel from Amazon to lower fuel expenses and abusing their Aircraft mechs. to fix aircraft under unsafe conditions. I hope their liability insurance is better then their management so when one of their Aircraft crashes and kills people they can pay court costs.