Deal Details

PS Is Acquired by Groupe ADP

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Summary

About

PS builds and operates private airport terminals serving commercial flights. It currently operates at LAX and ATL, with additional locations coming in Dallas Fort-Worth and Miami. With unprecedented access, PS has the only private partnership with both TSA and Customs and Border Protection, allowing PS guests to move seamlessly through arrivals and departures. PS has served nearly 50,000 unique customers since opening its first location at Los Angeles International Airport (LAX) in 2017. PS is headquartered in Los Angeles, California.

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $229 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate and market solutions, and their unique strategy is driven by collaboration, innovation and inclusion. TPG teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for their fund investors, portfolio companies, management teams and communities. TPG is headquartered in San Francisco, California.

Groupe ADP develops and manages 26 airports around the world, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2023, the group handled through its brand Paris Aéroport 99.7 million passengers at Paris-Charles de Gaulle and Paris-Orly, and 336.4 million passengers in airports globally. Boasting an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services; the group also intends to develop its retail & hospitality and real estate businesses. In 2023, group revenue stood at €5,495 million and net income at €631 million. Groupe ADP is headquartered in Paris, France.

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