Apollo Funds Buys Stake in Atlantic Aviation
Apollo Funds has bought a major stake in Atlantic Aviation from KKR, valuing the FBO network at almost $10 billion. KKR remains a significant shareholder.
Apollo Funds has purchased a major stake in Atlantic Aviation from private equity firm KKR. The transaction, announced on August 31, 2026, values one of the world's largest fixed-base operator networks at nearly $10 billion.
KKR will remain a substantial shareholder. Financial terms of Apollo's investment were not disclosed.
This deal arrives five years after KKR itself acquired Atlantic Aviation. That 2021 purchase from Macquarie Infrastructure was valued at nearly $4.5 billion. At that time, Atlantic operated 69 FBO locations across the United States.
According to Apollo, the network has since grown to 105 locations. More than 30 of these were added through acquisitions. The company provides fuel, hangar space, aircraft handling, and other services to business and private aircraft operators.
The near $10 billion valuation is more than double the 2021 price. This reflects both the company's physical expansion and continued strength in the private aviation market.
Expansion and Market Position
Apollo stated it sees further opportunities to grow Atlantic's network. It also plans to invest in its existing locations.
"Atlantic has built an irreplaceable infrastructure footprint across the nation's busiest airports, underpinned by long-term concession agreements and a customer base that values reliability and service above all else," said Apollo Partner David Cohen.
Cohen added that Apollo expects the current private aviation boom to continue. The firm plans to work with Atlantic and KKR on additional investment and expansion.
Atlantic is one of two major FBO chains dominating the upper end of the US business aviation ground-services market. Its primary competitor is Signature Aviation.
Recent Facility Developments
The company's recent growth includes new and upgraded facilities at several major business aviation airports. For instance, Atlantic began work in August on a second FBO at Nashville International Airport (BNA). This will supplement its existing location there.
Deal Context and Leadership
The Apollo investment had been anticipated for months. KKR had been exploring options for reducing its ownership position in Atlantic.
Atlantic CEO Jeff Foland will continue to lead the company following the transaction.
| Metric | 2021 (KKR Acquisition) | 2026 (Apollo Stake Deal) |
|---|---|---|
| Valuation / Price | Nearly $4.5 billion | Nearly $10 billion |
| FBO Locations | 69 | 105 |
| Locations Added via Acquisition | Not specified | More than 30 |
The table illustrates the scale of Atlantic Aviation's growth under KKR's ownership. The network expanded significantly in both physical footprint and overall value.
