PS (formerly The Private Suite), a luxury terminal operator serving commercial flights, is set to be acquired by Groupe ADP. This deal marks a notable divestment by TPG, an influential global alternative asset management firm. Regulatory approvals and customary closing conditions still need to be cleared for the transaction to be finalized. Financial terms were not disclosed. PS currently operates at LAX and ATL, with new locations slated for Dallas Fort-Worth and Miami. Groupe ADP, which manages 26 airports including significant hubs in Paris, aims to expand its footprint in retail, hospitality, and real estate. In 2023, Groupe ADP transported around 336.4 million passengers worldwide, with considerable revenues and net income. Both PS and Groupe ADP intend to synergize their unique strengths for an upgraded passenger experience and expansive growth.
Aviation, Private Equity, Real Estate,United States, France, Global
https://www.tpg.com/news-and-insights/tpg-backed-ps-to-be-acquired-by-groupe-adp/