Australian investment company AMP Capital, which owns Newcastle Airport, has now taken control of Leeds Bradford from Bridgepoint Advisers, which has owned it for the past decade.
The Sydney-based fund has agreed to acquire 100% of Leeds Bradford, calling it a “compelling investment” and saying it had chosen to purchase the site “due to its excellent location and strong growth prospects”.
AMP has a worldwide presence and a track record of investing in airports for more than 20 years. In the UK, as well as owning Newcastle Airport, it has stakes in Thames Water and Angel Trains.
Leeds Bradford, which currently handles 4m passengers a year, was acquired by Bridgepoint in 2007 from the five councils of West Yorkshire that co-owned it. Bridgepoint then invested around £30m in projects including a terminal upgrade.
Partner Michael Davy also noted passenger numbers had grown by almost 40%, employee numbers has grown from 200 to around 460 and gross earnings had grown by more than 25% a year.
By courtesy of Business Travel News