Stonepeak, an investment firm based in New York, is in advanced negotiations to acquire Air Transport Services Group (ATSG) for approximately $3.1 billion, including debt. Sources close to the matter say the deal is poised to offer a 30% premium per share for ATSG, which may be finalized soon.
This potential acquisition underscores the critical role air cargo plays in modern logistics, especially with increasing online consumer demand from retailers such as Temu and Shein. ATSG, with a significant fleet and operations, including clients like Amazon, is seen as a strategic asset in this vital sector.
Originating from Airborne Freight Corporation, ATSG, now based in Wilmington, Ohio, still counts significant partnerships and infrastructure following its roots. Despite a recent dip in revenue, expectations are set for a rebound as market conditions improve. Stonepeak’s acquisition interest aligns with its broader strategy in infrastructure and logistics investments.