Investor consortium led by Oaktree, Centerbridge Partners to buy airport hospitality group
An investor consortium led by Oaktree Capital Management and Centerbridge Partners has plans to acquire OTG, a hospitality group that develops and operates restaurants, retail markets and food halls in airports throughout North America, for an undisclosed amount.
The consortium, which also includes Sculptor Capital, CPPIB Credit Investments III Inc. and Oak Hill Advisors, first partnered with OTG in October 2021 to provide the company with capital to fuel its growth. Under the latest transaction, the group would help advance OTG’s growth plan by providing it with new financing to support continued innovation, ongoing airport infrastructure investment and geographic expansion.
The consortium has extensive experience managing companies across the transportation, aviation, hospitality and infrastructure markets, including airports in North America and Europe, as well as decades of experience investing in hospitality, ports, railroads, and food and beverage.