NewsWhore
09-09-2008, 03:40 PM
Latin American Airport Holdings, a subsidiary of global private equity company Advent International, announced the purchase of the Aerodom airport operations company from the Hazoury Group, Vancouver Airport Services and other local investors on 9 September. The value of the transaction was not disclosed. This is Advent's first venture in the DR. The acquisition, funded with equity from Advent and debt financing from the Bank of Nova Scotia and ING Group, is the first leveraged buyout in the Dominican Republic. It also marks Advent's 13th deal in the airport sector.
The concession in the DR covers Las Americas airport in Santo Domingo (SDQ), Gregorio Luperon in Puerto Plata (POP), Samana and Arroyo Barril in Samana (AZS) La Isabela in Santo Domingo (JBQ) and Maria Montez in Barahona (BRX). Aerodom airports handled more than four million passengers in 2007, or about half of all airport passengers in the DR, according to the Advent release.
Aerodom's existing management and Vancouver Airport Services, its current operating partner, will continue to run the company. "Advent International has a long history of investing in Latin America, particularly in the airport sector, and we look forward to working closely with them as we embark on our next phase of growth," said Ken Hassard, Commercial Director of Aerodom. "In addition to increasing commercial revenue, we will pursue a number of value-creation initiatives such as improving car parking facilities, expanding infrastructure for private aviation, improving fuel services and expanding cargo operations."
Advent International is one of the most established and successful private equity investors in Latin America. Since it began operating in the region 12 years ago, the company has invested in 37 companies with a combined enterprise value exceeding US$8 billion.
More... (http://www.dr1.com/index.html#7)
The concession in the DR covers Las Americas airport in Santo Domingo (SDQ), Gregorio Luperon in Puerto Plata (POP), Samana and Arroyo Barril in Samana (AZS) La Isabela in Santo Domingo (JBQ) and Maria Montez in Barahona (BRX). Aerodom airports handled more than four million passengers in 2007, or about half of all airport passengers in the DR, according to the Advent release.
Aerodom's existing management and Vancouver Airport Services, its current operating partner, will continue to run the company. "Advent International has a long history of investing in Latin America, particularly in the airport sector, and we look forward to working closely with them as we embark on our next phase of growth," said Ken Hassard, Commercial Director of Aerodom. "In addition to increasing commercial revenue, we will pursue a number of value-creation initiatives such as improving car parking facilities, expanding infrastructure for private aviation, improving fuel services and expanding cargo operations."
Advent International is one of the most established and successful private equity investors in Latin America. Since it began operating in the region 12 years ago, the company has invested in 37 companies with a combined enterprise value exceeding US$8 billion.
More... (http://www.dr1.com/index.html#7)