KKR and Apollo’s Strategic Partnership to Support Growth of Atlantic Aviation

Cleary Gottlieb acted as antitrust counsel in the strategic partnership between KKR and Apollo to support the continued growth of Atlantic Aviation (Atlantic), one of the largest private aviation infrastructure platforms in the U.S.

Cleary advised KKR and Atlantic in the transaction.

Under the transaction, which values Atlantic at nearly $10 billion, KKR-managed funds remain a substantial shareholder, while Apollo-managed funds acquired a significant interest in Atlantic.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Atlantic is one of the leading providers of fixed-base operator services in the United States, with locations across the country serving corporate and general aviation customers. It provides infrastructure including aircraft fueling, hangar leasing, and other essential aviation services, supported by long-term airport concession agreements and a diversified footprint across high-activity airfields. Since KKR’s acquisition in 2021, Atlantic has expanded its locations through strategic acquisitions and organic growth throughout the U.S. and certain international locations, while enhancing its customer offerings and operational capabilities.

For more information, see the press release.

The Cleary antitrust team was led by partners Bruce Hoffman and Blair Matthews and associates Tobias Kraft and Ami Ishikawa.