Atlantic Street Capital has acquired a majority stake in GAT Airline Ground Support Inc, a provider of outsourced airline services at airports in the U.S. The seller is GAT CEO Boe Strange. No financial terms were disclosed.
STAMFORD, CT, May 2, 2017 – Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today that it has made a majority investment in GAT Airline Ground Support, Inc. (“GAT”), a leading provider of outsourced airline services at airports across the United States.
Founded in 1965, GAT offers a broad portfolio of services at 37 airports throughout the United States, including ramp services, passenger handling, and related ancillary services. The company employs over 2,000 people.
Atlantic Street Capital acquired its majority stake in GAT from the founding family. Boe Strange, Chief Executive Officer of GAT, will continue in that position and remain a significant shareholder in the company.
Peter Shabecoff, Atlantic Street Capital founder and Managing Partner, said, “Ground operations represent mission critical services for airlines from an operational efficiency and safety standpoint. Carriers select outsource partners with strong performance records, and GAT has one of the best track records in the business. We have looked at several ground services companies over the last several years and believe the great team at GAT is well-positioned to take advantage of the trends and opportunities in the market. We are thrilled to back one of the best companies in the industry.”
“Our company was built by delivering outstanding customer service and being a differentiated partner to our global customers,” said Mr. Strange. “Our presence is well represented in small and medium-sized airports throughout the United States and there is ample opportunity to follow our customers to new locations as they grow. We are also aligned with Atlantic Street in building on our winning formula by investing in our infrastructure to enhance our scale, broaden our services and allow us to grow rapidly without sacrificing our stellar track record.”
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $4 million and $15 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital’s investment team are hands-on investors who work closely with management to unlock their business’ underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital III, LP. For more information, visit www.atlanticstreetcapital.com.