M&A Deal Summary

Stonepeak Acquires Atsg

On November 4, 2024, infrastructure investor Stonepeak acquired transportation company Atsg from Red Mountain Capital Partners for 3.1B USD

Acquisition Highlights
  • This is Stonepeak’s 5th transaction in the Transportation sector.
  • This is Stonepeak’s 6th largest (disclosed) transaction.
  • This is Stonepeak’s 21st transaction in the United States.
  • This is Stonepeak’s 1st transaction in Ohio.

M&A Deal Summary
Date 2024-11-04
Target Atsg
Sector Transportation
Buyer(s) Stonepeak
Sellers(s) Red Mountain Capital Partners
Deal Type Going Private
Deal Value 3.1B USD
Advisor(s) Goldman Sachs (Financial)
Davis Polk & Wardwell
Vorys, Sater, Seymour and Pease (Legal)

Target

Atsg

Wilmington, Ohio, United States
Atsg is a provider of aircraft leasing and cargo and passenger air transportation solutions for both domestic and international air carriers, as well as companies seeking outsourced airlift services. Atsg was founded in 1980 and is based in Wilmington, Ohio.

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Buyer(S) 1

Buyer

Stonepeak

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 57.1B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 39 of 39
Sector (Transportation) 5 of 5
Type (Going Private) 6 of 6
State (Ohio) 1 of 1
Country (United States) 21 of 21
Year (2024) 3 of 3
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-26 Lineage

Novi, Michigan, United States

Lineage is a warehousing and logistics company built to deliver sophisticated, customized, and dependable cold supply solutions for a variety of customers worldwide. Lineage was founded in 2012 and is based in Novi, Michigan.

Sell -

Seller(S) 1

SELLER

Red Mountain Capital Partners

Investor

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Red Mountain Capital Partners is a private investment firm focused on investing in small cap public companies in the consumer and financial services sectors. Red Mountain Capital was formed in 2008 and is based in Los Angeles.

DEAL STATS #
Overall 5 of 5
Sector (Transportation) 1 of 1
Type (Going Private) 1 of 1
State (Ohio) 2 of 2
Country (United States) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 iRobot

Bedford, Massachusetts, United States

iRobot is a designer and builder of robots for consumers and businesses. iRobot's home robots help people find smarter ways to clean, its defense & security robots protect those in harm's way, and its remote presence robots enable virtual presence from anywhere in the world. iRobot was founded in 1990 and is based in Bedford, Massachusetts.

Buy -
Mergr

Product

Company

Legal