Ardian has acquired an ownership position in Aviation Facilities Company Management (AFCO) from Goldman Sachs Alternatives’ infrastructure business. Financial terms were not disclosed.
Headquartered in Dulles, Va., AFCO specializes in the investment, development, management and operation of on-airport cargo facilities and other airport infrastructure in the United States.
AFCO’s business currently includes more than 3.5 million square feet of airport infrastructure, with 29 properties at 15 airport locations around the United States and the United Kingdom, including on-airport air cargo warehouses and aircraft apron, ground support equipment maintenance and concession logistics facilities, aircraft maintenance hangars, and a pipeline of new development and acquisition opportunities at key airports.
“This investment builds on our strategic initiative to expand into the infrastructure and aviation market,” said Leonarda Orani, managing director at Ardian.
