Tiger Infrastructure Partners has acquired a controlling stake in IC Alaska Airport. No financial terms were disclosed. IC Alaska Airport will be renamed NorthLink Aviation. The capital infusion will fund construction of an air cargo terminal at the Ted Stevens Anchorage International Airport.
ANCHORAGE, Alaska and NEW YORK, Nov. 4, 2021 /PRNewswire/ — Tiger Infrastructure Partners (“Tiger Infrastructure”) announced today the acquisition of a controlling interest in IC Alaska Airport LLC, which has secured a 120-acre, 55-year lease at the Ted Stevens Anchorage International Airport (“ANC”). ANC is the fourth busiest air cargo airport in the world and a vital conduit for trans-Pacific air cargo. IC Alaska Airport LLC will be renamed NorthLink Aviation (“NorthLink” or the “Company”). With equity capital from Tiger Infrastructure, NorthLink will develop and construct a purpose-built air cargo terminal located on the south campus of ANC consisting of:
11 hardstands designed to allow aircraft to power-in and power-out
Modern air cargo warehouse with temperature-controlled facilities
Dual-hydrant fueling system at each hardstand
Infrastructure to recover and recycle glycol used for deicing aircraft
LEED-certified office space for customers and operations team
NorthLink’s strategy is to construct and operate a world-class air cargo terminal and partner with service providers to ensure that air carriers can safely and efficiently refuel, deice and exchange cargos at ANC, capitalizing on the airport’s strategic location and unique commercial opportunities. As air cargo volumes continue to grow, NorthLink will provide an essential infrastructure solution for cargo airlines delivering high-value goods between Asia and North America.
Simultaneous with Tiger Infrastructure’s investment, NorthLink executed a 55-year lease with the State of Alaska for the 120-acre south campus property at ANC. Jim Szczesniak, ANC’s Airport Director commented: “By supporting projects that expand the infrastructure for cargo airlines, we are supporting Alaska’s economy. Air cargo volumes continue to grow and this important development project will keep ANC firmly in place as one of the top hubs for the industry.”
Emil W. Henry, Jr., CEO and Managing Director of Tiger Infrastructure, commented: “We believe that cargo volumes at ANC will continue to grow significantly, driven by factors such as the strong outlook for trans-Pacific air cargo, rising e-commerce volumes, increases in the share of cargo volumes carried by dedicated cargo freighters and ANC’s strategic location. We are delighted to have the opportunity to build world-class infrastructure at ANC which will address global logistics and supply chain issues.”
Sean Dolan has joined NorthLink as Chief Executive Officer in conjunction with Tiger Infrastructure’s investment in the Company. Sean brings decades of infrastructure experience along with a track record of working successfully with customers and strategic partners. Sean commented: “NorthLink Aviation is one of the most exciting infrastructure businesses I have seen in my career. I have known the leaders of Tiger Infrastructure for more than a decade and I am thrilled to have the opportunity to work with this team to build and operate a world-class air cargo terminal for customers, ANC and the Anchorage community.”
The original sponsor of the project is the Investment Company of Alaska LLC (a subsidiary of the C Change Group LLC), an Anchorage-based investment firm led by Dr. Russell Read, who previously served as Chief Investment Officer of the Alaska Permanent Fund and Dr. John Tichotsky, who previously served as Chief Economist for the State of Alaska. “We are pleased Tiger Infrastructure is making this investment. We were seeking a team with the experience in infrastructure and growth investments to develop this unique project alongside our local connectivity. I have known the Tiger team for over a decade and we found them uniquely qualified to succeed with this project.” said Russell Read, NorthLink’s Chairman. “For Alaska to achieve world-class growth rates, based on its locational advantage, all it takes is diligent business planning, structuring, and implementation with world-class global investors. This is a long overdue project that will benefit our State and the Nation,” said John Tichotsky, a managing member for the Investment Company of Alaska. “Tiger Infrastructure’s commitment to the environment and the local community is an essential feature for developing Anchorage’s world-class cargo hub,” added Tichotsky, who will be the Company’s Chief Strategy Officer.
As NorthLink moves forward with the development of the south campus air cargo terminal, the Company is proud to team-up with Anchorage-based businesses, including MCG Explore Design (for engineering and design) and Cornerstone General Contractors (general contractor).
Tiger and NorthLink are committed to building and operating the south campus terminal in a manner that promotes the highest standards of safety, service, environmental protection, stakeholder inclusion and responsible corporate practices.
ABOUT NORTHLINK AVIATION
NorthLink Aviation is developing a world-class air cargo terminal at the Ted Stevens Anchorage International Airport. For more information on NorthLink, please visit www.northlinkaviation.com