Farnborough Airport acquired by MIRA
Macquarie Infrastructure and Real Assets (MIRA), via Macquarie European Infrastructure Fund 6 (MEIF6), has acquired Farnborough Airport from a consortium of private investors.
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Farnborough Airport is the only dedicated business aviation airport in the UK. The airport, which handles more than 30,000 air traffic movements each year, has facilities designed to maximise travel efficiency, reliability and customer experience for passengers travelling to London and the South East.
Farnborough Airport was the world’s first dedicated business aviation airport to receive carbon neutral status from Airports Council International, and its facilities and services have seen it named Europe’s best Fixed-Based Operator (FBO) facility since 2005.
Leigh Harrison, Head of MIRA EMEA, said: “We are delighted to announce our investment in Farnborough Airport. In addition to holding an important place in UK aviation history, the airport is known for its high-quality offering to customers. Drawing on our extensive experience managing airport infrastructure around the world, we look forward to partnering with Farnborough Airport to ensure it remains an important contributor to the local economy and a business aviation gateway to London and the South East.”
Brandon O’Reilly, CEO of Farnborough Airport, said: “The significant investment that has occurred at Farnborough Airport over the past two decades under the previous shareholders has been transformative. With a number of development projects already underway, we are excited to partner with Macquarie to further develop our offering to the business aviation market.”
Farnborough Airport is the birthplace of aviation in the UK. When opened in 1908, Farnborough Airport was the UK’s first airfield and the site of the country’s first powered flight. Internationally, the airport is known for being the site of one of the world’s premier events for the aviation industry – the Farnborough International Airshow.
MIRA is a leading global investor in airport infrastructure and FBO facilities, with approximately 72 million passengers using MIRA-managed airports each year. MIRA-managed funds are invested in 12 commercial airports across Europe and Australia, and 68 FBO facilities across the United States.
Macquarie has had a presence in the UK for 30 years, opening its London headquarters in 1989. Today, Macquarie is one of the largest investors in the UK, having invested and arranged more than £40 billion in infrastructure projects since 2005.
Shearman & Sterling LLP acted as external counsel to MIRA. J.P. Morgan Securities plc acted as financial advisers to the selling shareholders and Farnborough Airport and PricewaterhouseCoopers LLP also acted as financial advisers to the selling shareholders and Farnborough Airport. Cleary Gottlieb Steen & Hamilton LLP and Trowers & Hamlins LLP acted as external counsel to the selling shareholders and Farnborough Airport.
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