US asset management giant Blackstone is taking a 22% stake in the owner of Glasgow, Aberdeen and Southampton airports for £235 million.
AviAlliance, one of the world’s leading airport investors and operators, will remain the majority shareholder in AGS with a 78% shareholding.
Blackstone’s investment “is intended to support the continued growth of the travel and tourism industries across the United Kingdom”.
AGS handles more than 11 million passengers a year across its three airports.
Blackstone Infrastructure Strategies chief executive Greg Blank said: “Transportation remains a key thematic focus area for Blackstone, given continued strong global growth in leisure travel.
“AGS has access to one of the most diversified airline mixes of any major UK airport, and the company’s recent capital improvements aimed at accommodating large aircraft pave the way for new routes and higher traffic growth.
“We look forward to partnering with AGS to support this important growth in the United Kingdom.”
AviAlliance managing director Gerhard Schroeder said: “We look forward to developing a constructive and long-term partnership with Blackstone for the benefit of AGS, its management and employees, as well as all other stakeholders at the three airports.
“Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”