Advent International closed the sale of Aeropuertos Dominicanos Siglo XXI to a subsidiary of Vinci SA. Terms weren’t disclosed. Advent acquired Aerodom, operator and developer of six airports in the Dominican Republic, in September 2008. Advent said that Latin American airport and infrastructure sector is a key focus, with the firm investing in the sector for 19 years and having backed 16 companies. In Latin America broadly, Advent has raised more than $6 billion from institutional investors and has invested in more than 50 companies there. Vinci, based in Rueil-Malmaison, France, has interests in concessions and construction.
Advent International completes sale of Dominican airport concessionaire Aerodom to Vinci Airports
MEXICO CITY, April 11, 2016 – Advent International, one of the largest and most experienced global private equity investors, today announced that it has completed the previously announced sale of Aeropuertos Dominicanos Siglo XXI (“Aerodom”), the leading airport group in the Dominican Republic, to Vinci Airports, the airport operating subsidiary of Vinci SA (EPA: DG).
Terms of the transaction were not disclosed.
“Our partnership with Aerodom over the past seven years has helped the company solidify its position as a world-class airport operator,” said Luis Solórzano, a Managing Director and Head of Advent’s Mexico City office. “We are proud of what we have achieved together and believe the company, along with its new partner Vinci Airports, is well positioned for its next phase of expansion.”
Advent acquired Aerodom in September 2008 and has since worked with Aerodom’s management to improve and grow the business significantly. Among the initiatives, the company formed a new route-development group to increase traffic to its airports and launched an energy cost reduction program, which lowered energy consumption by approximately 20%. Aerodom also repaved and expanded the runway of Las Américas airport, remodeled the Las Américas and Gregorio Luperón terminals and built 17 new hangars. In 2014, Las Américas received the prestigious ACI Airport Service Quality award for “Best Improvement” by an airport in Latin America and the Caribbean.
Advent’s Airport and Infrastructure Experience
The airport and infrastructure sector is a key area of focus for Advent in Latin America. The firm has been investing in the sector for 19 years and has backed 16 companies spanning a range of sub-sectors including airport and port concessions, travel retail, and food and beverage. In addition to Aerodom, investments in airport and port concessions have included Aeroplazas, the commercial developer of the Puerto Vallarta and Guadalajara airports in Mexico; AMAIT, the operator of Toluca International Airport in Mexico; Fumisa, the former operator of certain commercial areas at Mexico City International Airport; and TCP, Brazil’s second-largest container terminal. Advent’s travel retail investments have included Dufry, Brasif, Hudson News and Aeroboutiques. Its food and beverage investments have included Aerocomidas, Elior and International Meal Company, which merged four separate Advent portfolio companies.
Advent in Latin America
Advent is one of the leading private equity investors in Latin America, having raised more than $6 billion for investment in the region from institutional investors globally. Since 1996, the firm has invested in over 50 Latin American companies and fully realized its positions in 33 of those businesses. With 40 investment professionals working from offices in Mexico City, Bogotá and São Paulo, Advent has the largest dedicated private equity team in the region.