Macquarie Asset Management and Ferrovial have announced the sale of AGS Airports to AviAlliance. The transaction values the business at approximately £1.53 billion.
AGS Airports operates key airports in Aberdeen, Glasgow, and Southampton, serving over 10.8 million passengers annually. These airports contribute around £2 billion in Gross Value Added to the UK economy each year and support more than 30,000 jobs.
The joint venture between Macquarie and Ferrovial began in 2014 after acquiring the airport portfolio from Heathrow Airport Holdings Limited. This partnership facilitated a £250 million investment for improvements across the airports.
Significant investments include a £20 million expansion at Aberdeen International Airport, a £9 million infrastructure revamp at Glasgow Airport, and a £17 million runway extension at Southampton Airport.
During the COVID-19 pandemic, Macquarie and Ferrovial provided crucial support to maintain operations despite significant challenges.
Martin Bradley of Macquarie Asset Management stated: “Since 2014, we have worked in partnership with Ferrovial to support around £250 million of investment by AGS Airports aimed at delivering a better experience for passengers travelling via Aberdeen, Glasgow and Southampton airports.”
Andy Cliffe, CEO of AGS Airports, commented: "Over the past 10 years, Macquarie and Ferrovial have played a central role in unlocking our full potential."
Macquarie has invested over £60 billion in UK infrastructure over two decades and plans further investments across its portfolio.
The deal is expected to close by Q1 2025 following regulatory approvals.