AviAlliance, a prominent private airport investor and operator, has announced its acquisition of AGS Airports from Ferrovial and Macquarie for an enterprise value of £1.53 billion.

AviAlliance is the wholly-owned airports platform of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors. 

AGS Airports, established in 2014, operates Aberdeen, Glasgow, and Southampton airports, serving significant regions in the United Kingdom.

AviAlliance will assume £653 million in debt as part of the transaction.

The deal is expected to close in the first quarter of 2025.