AMP Capital, on behalf of investors in its global infrastructure equity platform, has acquired Leeds Bradford Airport from Bridgepoint Advisers Limited.
Simon Ellis, head of origination, Europe at AMP Capital, said, “With its strong underlying fundamentals including freehold ownership with well-invested infrastructure, a diversified airline mix and its catchment area in an economic hub of the North of England, Leeds Bradford Airport is a highly attractive investment and a great fit for AMP Capital’s global infrastructure platform, which includes the Global Infrastructure Fund.”
Leeds Bradford Airport is an international airport that serves the cities of Leeds, Bradford and the broader Yorkshire area, with 4 million annual passengers. A mix of low-cost, charter and major international airlines operate at the airport. The airport primarily offers international short-haul flights to customers as well as an established network of domestic destinations.
Michael Davy, partner at Bridgepoint, added, “Over the past five years of Bridgepoint ownership, passenger numbers have grown by almost 40 percent to over 4 million, £30 million [$39.5 million] has been invested in capex projects including a terminal upgrade, employee numbers have grown from 200 to around 460, and EBITDA has grown by over 25 percent per annum.”
International airports have seen an increase of investments, transactions and construction plans throughout 2017. In September, Denmark’s ATP pension fund purchased a 27.7 percent stake in Copenhagen Airports from Macquarie European Infrastructure Fund III, managed by Macquarie Infrastructure and Real Assets, for DKK 9.76 billion ($1.6 billion). In addition, The Edgemoor Infrastructure and Real Estate team had been selected by the KCI Selection Committee as its preferred partner to privately finance, design and build a new $1 billion single terminal at Kansas City International Airport. The FAA has awarded an immense about of infrastructure grants as well, including $151.1 million to 66 airports in 35 states across the United States in September and $282.6 million in airport infrastructure grants to 67 airports in 29 states in August.
