Vorys Advises ATSG in its Agreement to Sell to Stonepeak Partners LP for $3.1 Billion
Vorys has represented Air Transport Services Group, Inc. (Nasdaq: ATSG) in its entry into a definitive agreement to be acquired by Stonepeak Partners LP in an all-cash transaction with an enterprise valuation of approximately $3.1 billion. This transaction, announced on November 4, 2024, is expected to position ATSG to further expand its global presence in the air cargo leasing market and enhance its service offerings to customers. Under the terms of the agreement, holders of ATSG’s common shares will receive $22.50 per share in cash, which represents a premium of approximately 29.3% over ATSG’s closing share price on November 1, 2024, the last full trading day prior to the transaction announcement. The parties expect to close the deal in the first half of 2025, pending approvals from regulators and ATSG stockholders.
About Air Transport Services Group
Air Transport Services Group, Inc. is a premier provider of aircraft leasing and cargo and passenger air transportation solutions for both domestic and international air carriers, as well as companies seeking outsourced airlift services. ATSG is the global leader in freighter aircraft leasing with a fleet that includes Boeing 767, Airbus A321, and soon, Airbus A330 converted freighters. ATSG’s unique Lease+Plus aircraft leasing opportunity draws upon a diverse portfolio of subsidiaries including three airlines holding separate and distinct U.S. FAA Part 121 Air Carrier certificates to provide air cargo lift, and passenger ACMI and charter services. Complementary services from ATSG’s other subsidiaries allow the integration of aircraft maintenance, airport ground services, and material handling equipment engineering and service. ATSG subsidiaries comprise ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc., including its subsidiary, Pemco World Air Services, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; LGSTX Services, Inc.; and Omni Air International, LLC. For further details, please visit atsginc.com.
About Vorys: Vorys was established in 1909 and currently has nearly 375 attorneys in 10 offices in Ohio, Washington, D.C., Texas, Pennsylvania, California, London and Berlin. Vorys currently ranks as one of the 200 largest law firms in the United States according to American Lawyer magazine. Learn more at vorys.com.
